Fall 2015 – Election Update Does My Vote Count?

By November 24, 2015Uncategorized

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Who are you voting for on October 19th? Does it even make a difference?

Here are some of the basic policies of each party as per the official party platforms (source links provided).

I have not provided my personal opinion or commentary below. If you would like to hear my opinions on the different taxation policies of each party, please contact me at neal@winokur.ca or 416-722-1543 or post comments on the facebook post and we can discuss.

Please also read this article which details the actual spending amounts that will be required to keep all of the election promises of each party: http://www.taxpayer.com/news-releases/ctf-releases-2015-federal-election-spending-tracker

If after reading this, you still do not know who to vote for, then complete this quiz to find the political party that best fits your views. http://canada.isidewith.com/political-quiz

Liberal Party: (http://www.liberal.ca/costing-plan/)

  1. Cancel child benefit cheques for millionaires

  2. Increase marginal tax rate on Canada’s top one percent so that we can cut taxes for the middle class

  3. Target tax loopholes that particular benefit Canada’s top one percent

  4. Run modest deficits for three years so that we can invest in growth for the middle class and credibly offer a plan to balance the budget in 2019

Conservative Party:

  1. Lower the EI premium rate from $1.88 in 2016 to an estimated $1.49 in 2017 – a reduction of 21 percent. (http://www.conservative.ca/oliver-highlights-conservative-plan-to-cut-payroll-taxes-2/)

  2. Expand the Home Buyers’ Plan from $25,000 to $35,000

  3. Maintain the 2015 enhancement to Tax-Free Savings Accounts that allows annual contributions of up to $10,000

  4. Establish a permanent Home Renovation Tax Credit for home renovation expenses between $1,000 and $5,000. (http://www.conservative.ca/harper-aims-to-add-more-than-700000-new-canadian-homeowners-by-2020-2/)

NDP: (http://www.ndp.ca/plan)

  1. Reduce the small business tax rate from 11% to 9%

  2. Create a million childcare spaces at no more than $15 a day

  3. Return eligibility for old age security to 65 from 67

The Libertarian Party of Canada: (https://www.libertarian.ca/platform/)

  1. Reduce federal income taxes to a maximum rate of 15% and increase the personal income tax exemption amount to $17,300 from $11,500

  2. Eliminate all tax credits, and replace them with 4 additional exemptions, valued at $4,000 each (Child, Senior, Disability, Student)

  3. End all forms of corporate welfare

  4. Audit the Bank of Canada’s effect on inflation and gradually phase out government control over the money supply

Green Party
(http://www.greenparty.ca/sites/default/files/platform_english_web.pdf)

  1. Abolish tuition fees for college and university education

  2. Expansion of the Canada Pension Plan (CPP)

  3. Implement a national pharmacare plan for prescription drugs

  4. Reverse spending cuts to the CBC