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6.9% tax spike ‘will mean change in Torontonians’ lives’: Olivia Chow - Toronto | Globalnews.ca (globalnews.ca)

submitted 2 weeks ago by [email protected] to c/[email protected]

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“This proposed budget will mean change in Torontonians’ lives today. Change means libraries open seven days a week, transit fares frozen while TTC service increases and thousands more kids fed meals at schools and summer camps,” Chow told reporters at city hall.

“Pools open sooner and longer; renovictions prevented by taking housing off the market and more support for tenants; traffic agents to keep Toronto moving and emergency responders arriving sooner when you need them most.”

☝️Now that's how a politician should talk about taxes.

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[–] [email protected] 1 points 2 weeks ago (1 children)

But they're doing that by increasing taxes on wealth, capital gains, windfalls, luxury real estate, and income in the top 10%, right? They're totally not increasing taxes by even so much as one penny on working class citizens when there's so much obscene wealth controlled by a few.

Right?

[–] [email protected] 16 points 2 weeks ago (2 children)

But they’re doing that by increasing taxes on wealth, capital gains, windfalls, luxury real estate, and income in the top 10%, right? They’re totally not increasing taxes by even so much as one penny on working class citizens when there’s so much obscene wealth controlled by a few.

Municipalities in Ontario don't have the ability to tax those things.

[–] [email protected] 7 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

In addition, property taxes on a large house are much higher than the property taxes on a condo. So even though they can't target wealth very well, the property tax is somewhat progressive.

[–] [email protected] 1 points 2 weeks ago

Property tax isn't progressive (a more expensive property isn't taxed at a higher rate), but you're right, it's also not regressive, like sales tax (lower income people spend a higher percentage of their income on living expenses, so they are effectively taxed at a higher rate).

[–] [email protected] 1 points 2 weeks ago (2 children)

I think a municipal sales tax is technically possible.

[–] [email protected] 2 points 2 weeks ago* (last edited 2 weeks ago)

Sales taxes are regressive. They affect the poorest the most. The concern is that property taxes aren't targeting wealth enough. Sales tax fails on the same terms. In fact it might be worse than property tax. Someone has probably done the math in some study cited in Wikipedia.

[–] [email protected] 2 points 2 weeks ago (1 children)

Not as it stands. Sure, the Ontario government could allow municipalities to introduce sales tax, and it has come up a bunch lately. However, municipalities are creatures of the province, and as such, new provincial legislation would be needed to allow municipal sales tax.

[–] [email protected] 2 points 2 weeks ago

Offtopic but can you imagine Doug allowing TO to intro congestion pricing on the QEW?