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Progressive Tax Options for BC -Reform Ideas for Raising New Revenues and Enhancing Fairness

Progressive Tax Options for BC -Reform Ideas for Raising New Revenues and Enhancing Fairness

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"A decade-plus of tax cuts has left us in a budget crunch and failed to deliver on promised economic benefits," says Seth Klein, co-author of the study and BC Director of the Canadian Centre for Policy Alternatives.
"A decade-plus of tax cuts has left us in a budget crunch and failed to deliver on promised economic benefits," says Seth Klein, co-author of the study and BC Director of the Canadian Centre for Policy Alternatives.

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Categories:Types, Research
Published by: Langley Teachers' Association on Jan 29, 2013
Copyright:Attribution Non-commercial

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01/29/2013

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by Iglika Ivanovaand Seth Klein
JANUARY 2013
Progressive TaxOptions or BC
Reorm Ideas or Raising NewRevenues and Enhancing Fairness
 
1400 – 207 West Hastings Street Vancouver BC V6B 1H7604.801.5121 |ccpabc@policyalternatives.ca
PROGRESSIVE TAX OPTIONS FOR BC:REFORM IDEAS FOR RAISING NEW REVENUES AND ENHANCING FAIRNESS
By Iglika Ivanova and Seth KleinJanuary 2013
 ACKNOWLEDGEMENTS
The authors would like to thank Lynell Anderson, Marcy Cohen,Shannon Daub, Marc Lee, Ben Partt, Claire Young and our anonymous peer reviewers or their helpul commentsand suggestions on an earlier drat o this report.This research was carried out as part o a broader CCPA project on taxpolicy. The project is supported by the individual members and donorswho contribute to the CCPA’s core unding, the BC Government andService Employees’ Union, BC Teachers’ Federation, Hospital Employees’Union, Canadian Federation o Students, BC Nurses’ Union, BC RetiredTeachers’ Association, and Canadian Union o Public Employees.The opinions expressed, and any errors, are those o the authors, and donot necessarily refect the views o the publishers or unders o this report.
Copyedit and design: Nadene Rehnby,www.handsonpublications.comISBN 978-1-77125-051-1
 
Contents
SUMMARY:PROGRESSIVE TAX OPTIONS FOR BC ............................................................5PART 1:INTRODUCTION ..............................................................................................11 PART 2:THE CASE FOR PROGRESSIVE TAX REFORM ......................................................13 The High Price o Tax Cuts ...................................................................................13The Erosion o Tax Fairness ..................................................................................16BC’s Income Taxes are Well Below the National Average ......................................19The Public is Ready or a Thoughtul Conversation About Taxes ...........................21PART 3:OPTIONS FOR RAISING NEW REVENUES AND REDUCING INEQUALITY ............22 Personal Tax Options ...........................................................................................22Corporate Tax Options ........................................................................................31Other Tax and Revenue Options ..........................................................................34PART 4:RESPONDING TO THE CRITICS ........................................................................36 PART5:CONCLUSION .................................................................................................39  APPENDICES Appendix 1:Current Provincial Income Tax Payable by Province ..........................40  Appendix 2:Impact o Tax Increases on Overall Eective Tax Rates ......................42  Appendix 3: Technical Appendix ..........................................................................45

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