Finally — a tax idea even worse than income-splitting

Rhys Kesselman / iPolitics

The federal government has delivered on the first of its two major tax promises from the 2011 election campaign. Income-splitting has been extensively assessed and widely criticized for its revenue cost, its tilt toward higher-income families, and its failure to accomplish anything beneficial for the economy.

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Doubling TFSA limits would cost billions, benefit the wealthy: Reports

Sheena Goodyear / QMI Agency

If the Tories go ahead with plans to double the contribution limit on tax-free savings accounts, it will cost the government billions of dollars and benefit only the very wealthy, two separate studies released Tuesday say.

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TFSA doubling would cost billions more than income splitting, more skewed to the wealthy: new study

OTTAWA—The existing Tax-Free Savings Account scheme is projected to cost the federal government up to $15.5 billion annually when it matures, and doubling the contribution limits would shift additional billions from tax revenues into the pockets of the already well-off, a new Broadbent Institute study has found.

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Tories’ TFSA promise would mainly benefit the wealthy: report

Bill Curry / Globe and Mail

A plan to double the amount people can put in a tax-free savings account is facing new criticism that – like income splitting – it would benefit mainly the most well-off Canadians.

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Doubling TFSA limit will only help wealthy, study argues

James Fitz-Morris / CBC News

A new study into tax-free savings accounts says there is no justification "on either economic or equity grounds" for doubling the contribution limit without conditions.

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Two studies warn against increasing TFSA contribution limits

Lee-Anne Goodman / The Canadian Press

OTTAWA - Two studies on tax-free savings accounts sound alarm bells about their long-term fiscal impact if the Conservative government keeps a 2011 campaign promise to allow people to park almost twice as much money in the popular savings vehicles.

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TFSA proponent warns against increasing limit

Peter O'Neil / Vancouver Sun

OTTAWA — Prominent B.C. economist J. Rhys Kesselman is horrified by the Frankenstein’s monster that has evolved from a tax policy idea he advanced in 2001.

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B.C. income growth worst in Canada: analysis

Peter O'Neil / Vancouver Sun

OTTAWA — B.C. experienced the worst income growth — in fact, incomes declined — of any province in Canada during the 2006-12 period, according to an analysis of Statistics Canada data by an Ottawa think-tank.

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Hamilton workers’ wages shrinking, think tank says

Hamilton Spectator

New research shows that workers across most of Ontario - including Hamilton - are becoming poorer, despite rising income levels across much of Canada.

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Toronto, Vancouver Among Cities Seeing Falling Wages

Daniel Tencer / Huffington Post Canada

You’ve probably read stories about how Canada’s wage growth is nothing to write home about, but new research from the Broadbent Institute adds a surprising dimension to the story: No fewer than 15 of Canada’s 32 largest metro areas saw incomes slide during 2006-2012.

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