So…the province is willing to pay one of the big banks up to 22 million dollars to provide, what they say, is a possible 500 jobs….that’s all well and good…I have no issue with anyone providing jobs….but what I don’t get is why the government has to bribe these corporations to do so….said big bank, in 2014, was making an average profit of 26.4 million dollars….a day….or…$1,102,000.00 per hour….So I ask, why does the government feel the need to provide 22 million dollars in “job incentives” when the bank can cover the cost of these same incentives in less than a day? If I’m sitting at your kitchen table with $25,000.00 in my hand and I ask you to give me $2.00 for a bus ticket…would you? I’m pretty sure $22,000,000.00 could buy an awful lot of food, clothing, medicine, textbooks……. —Tired of mismanagement
This article appears in Mar 26 – Apr 1, 2015.
In the land of the bitch its rare to be able to give a concrete answer to a bitch.
It’s because they will go wherever it is cheapest for them. It’s the same reason Ben’s bakery is moving to NB, NB offered payroll rebates for job creation. No, RBC does not need the money, but it just makes business sense to go where its cheaper.
They really interesting/shitty thing about this will be seeing them leave when the payroll rebates run out in 10 years.
It’s called corporate welfare.
OB, here’s how it works….
Big Business gives money to the Political Party’s (usually all of them.)
the politically challenged then use this money to pay for , expensive travel. high end hotels, meals & let us not forget Per Diem & big party’s , & some gets spent to get them elected .
They then, as elected officials give the Big Business interests back their money , with interest. By paying them to ‘bring us job’s’, awesome breaks on their taxes …while we continue to pay for big parties, high cost travel, free meals , their cars, fancy hotels etc etc etc, for our wonderful elected officials who are doing their very best for themselv…. sorry typo I meant Us !
I really thought everyone knew this .
TASB is correct about this. The only solution would be for the provinces to all agree not to play the game of race to the bottom – i.e. how desperate am I to attract jobs and how much will I give up to get them. I don’t see this happening any time soon..
Not if…
the only question is when
http://www.madmaxmovies.com/mad-max-beyond…
^^^ I’m looking forward to the new Mad Max this year – “Fury Road”
http://www.imdb.com/title/tt1392190/
hmmm i paid 27k in income taxes this year…my property assessment went up from 168k to 237k in two years of owning the house, with subsequent property tax increases to boot…my wife works full time retail and i paid MORE in taxes than she earned in wages….i fucking hate this province…
Cuja,
If you paid 27k in taxes that means you made between 80 and 100K. I’m happy for you but I bet there are a lot of folks on this board who would love to have your “problem” of paying high taxes.
That said, here’s a chart comparing the taxes paid by province. http://www.taxtips.ca/taxrates/taxcomparis…
Yes. The taxes are lower in other places but not by that much. If you lived in Ontario or BC you would save around $3000 per year on taxes. But how much more would you spend on housing? And even if your net saving was a few thousand a year is that going to change your life?
There are lots of other reasons that one might want to relocate (career opportunities, being closer to family and friends, etc.) but, in my opinion, tax burden needs to be looked at in the context of cost of living and quality of life – not as an isolated defining issue.
Sure to buy a house in BC will cost you a lot more but rents (in Victoria anyway) are on par with Halifax and food is cheaper in BC.
Cuja, I’m guessing the property tax increase was mostly due to it being capped for the previous owner. If you paid close to the 168k for the house and didn’t challenge the assessments, that’s your fault. Actually, it’s your fault for not challenging those increases if you didn’t think they reflected the of your house.
My guess, you paid 220k+ for the house and thought you’d get the capped assessment value. Doesn’t work that way, and it’s only your fault. Challenge, or sell and rent.
It is discouraging when the government funds business that already make a lot of money. It would be better if the government did not fund them.
Don’t worry, they’ll probably get a break on their property taxes too. When it’s all said and done, those jobs they bring here won’t produce shit for the tax system and we’ll be the ones with higher taxes and less services.
Maybe we wouldn’t need to bribe corporations to create a few office jobs if every single frickin’ development proposal didn’t meet with opposition. The CAVEs (Citizens Against Virtually Everything) are at it again.
http://thechronicleherald.ca/business/1277…