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Ralph Klein has gone and it is time to retire Ralph's World. Thanks to all of you who have supported this venture by contributing material and through your comments. It has been fun.
Should we get another blog underway? Let me know your thoughts by e-mailing me at johnnyslow@gmail.com.
John Slow
January 1, 2007
Friday, August 08, 2003
The Alberta Flat Tax. Am I missing something?
Can somebody help me out with this Flat Tax thing.
It costs our government about $1.5 billion each year in reduced tax take to implement the Flat Tax. They said they could afford it because resource royalties are very good in this province - about $5 billion a year give or take a few million (TD Five Year Forecast). So they give out $1.5 billion of this every year to the citizens. So far so good.
It's how they give it out that I don't get. Seems to me that this should be given out even steven. It's resource revenue right? It belongs to all of us right?
So why do those that make the most money get a bigger share of the resource windfall. Have a look at this Alberta Flat Tax Analysis on page 13. A single taxpayer making $11,800 a year gets $137 a year as her share of the $1.5 billion resource royalty. Someone making $120,000 gets $9246 as her share.
If you just split it up evenly, everyone in the province gets about $500 a year - taxpayer or not. Every man woman and child. As I tend to be on the looooow end on the income scale; more a $137 kind of guy than a $9246 kind of guy; I'd prefer the even steven approach.
Am I missing something?
It costs our government about $1.5 billion each year in reduced tax take to implement the Flat Tax. They said they could afford it because resource royalties are very good in this province - about $5 billion a year give or take a few million (TD Five Year Forecast). So they give out $1.5 billion of this every year to the citizens. So far so good.
It's how they give it out that I don't get. Seems to me that this should be given out even steven. It's resource revenue right? It belongs to all of us right?
So why do those that make the most money get a bigger share of the resource windfall. Have a look at this Alberta Flat Tax Analysis on page 13. A single taxpayer making $11,800 a year gets $137 a year as her share of the $1.5 billion resource royalty. Someone making $120,000 gets $9246 as her share.
If you just split it up evenly, everyone in the province gets about $500 a year - taxpayer or not. Every man woman and child. As I tend to be on the looooow end on the income scale; more a $137 kind of guy than a $9246 kind of guy; I'd prefer the even steven approach.
Am I missing something?
