Tax Policy Advice to Christy Clark

Dear Christy Clark on this the day before budget day. I know it is hard but it is time to let the British Columbia Mining Flow-Through Share Tax Credit die. I know it only costs you $10 Million a year, but all your are doing is providing a tax advantage for high income individuals with no discernible economic benefit. I know the mining industry says otherwise, but its not their money that is being used. It is ours. And have you heard of the saying about putting the fox in charge of the chicken coop? It is like that. But then again, perhaps you don’t understand how it all works so let me explain. As you can see, there is no rationale for this tax expenditure and its time to end it. And if you don’t believe me, perhaps you’ll believe Jack Mintz.

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2 thoughts on “Tax Policy Advice to Christy Clark

  1. […] earners through its extension of the mining flow through share tax credit. I talked about that here and here. More people should be talking out against this tax credit since there is no evidence it […]

  2. “chicken coup”
    or chicken coop ?

    And this is telling

    In order for Mary to break even (ignoring inflation and other time costs of money), she only needs to sell the $10,000 investment for $4,888.03 (the adjusted cost basis of the shares is zero). If she sells for this amount, she will only pay $1,068.03 in capital gains taxes, leaving Mary with the initial after-tax cost of the investment ($3,820). In this scenario, the taxpayer is left with a $5,111.97 deficit.

    from deadfortaxreasons.wordpress.com/2014/01/10/stupid-tax-policy-mining-edition/

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