NDP Leader Jagmeet Singh has thrown his weight behind a campaign fighting for better work rights for Kal Tire employees, joining a picket line of workers in Burnaby Saturday morning.
wealth tax, decreasing the capital gains exclusion rate to bring capital income closer to being taxed like normal income, windfall taxes on profiteering, increased social services (expanded medical care including eye care, dental, and mental), support for UBI
Do you have any more details or links on the wealth tax as well as the plans for UBI?
It feels like these things have been mentioned as parts of campaigns or proposals but I haven’t actually seen any full plans put forward. Probably the fault of media reporting tbh. I’d love to know more.
Partly media coverage and partly that these things come in waves around election time. Coverage from the 2019 election goes into some of their policies:
I can’t find sources verifying the claim but I remember that contemporary to the election the PBO assessed the NDP budget as being the closest to balanced between the major parties (based in part on that wealth tax).
The capital gains exclusion amount right now is 50% (which means that $1000 in capital gains is taxed like $500 in income) and the NDP platform would have taken that to 25% meaning it would be treated like $750 in income. You might be asking why working for your money means it’s taxed higher than investing for your money but that’s a bigger conversation.
As for UBI, it hasn’t been a part of their official platform in previous elections that I recall, but NDP members have expressed support and laid out plans for it and it’s far more likely to be tried and executed under NDP governments than Conservative and Liberal, though Liberals have run trials at the provincial level (though sabotaged by the cons as soon as they took power of course).
Next year will present an opportunity for a new platform but I expect many of these things to remain on it. I encourage you to look into all of the party platforms at that time. I occasionally check in on them off season as well, for example to find out what Conservatives are proposing for after they “axe the tax” (spoiler: nothing), but haven’t looked at the NDP recently.
No problem, I’m starting to think about what I’ll do next election so it’s a good push to start looking into changes since 2019 myself. A lot has happened to say the least.
CBC usually puts out a political compass quiz that’s a way to see where you land compared to parties on policy points. I’m looking forward to it.
I always find this quiz is a nice start to see what platforms you may agree or disagree with. I’d like to start my reading now as well. I always find the actual runup to elections are so full of BS from everywhere.
I much prefer to choose based on past promises and actions rather than future best wishes.
wealth tax, decreasing the capital gains exclusion rate to bring capital income closer to being taxed like normal income, windfall taxes on profiteering, increased social services (expanded medical care including eye care, dental, and mental), support for UBI
Interesting stuff!
Do you have any more details or links on the wealth tax as well as the plans for UBI?
It feels like these things have been mentioned as parts of campaigns or proposals but I haven’t actually seen any full plans put forward. Probably the fault of media reporting tbh. I’d love to know more.
Partly media coverage and partly that these things come in waves around election time. Coverage from the 2019 election goes into some of their policies:
https://www.investmentexecutive.com/news/industry-news/ndps-proposed-wealth-tax-would-generate-60-billion-over-five-years-pbo/
https://www.cbc.ca/news/politics/ndp-singh-health-policy-federal-election-1.5175899
I can’t find sources verifying the claim but I remember that contemporary to the election the PBO assessed the NDP budget as being the closest to balanced between the major parties (based in part on that wealth tax).
The capital gains exclusion amount right now is 50% (which means that $1000 in capital gains is taxed like $500 in income) and the NDP platform would have taken that to 25% meaning it would be treated like $750 in income. You might be asking why working for your money means it’s taxed higher than investing for your money but that’s a bigger conversation.
As for UBI, it hasn’t been a part of their official platform in previous elections that I recall, but NDP members have expressed support and laid out plans for it and it’s far more likely to be tried and executed under NDP governments than Conservative and Liberal, though Liberals have run trials at the provincial level (though sabotaged by the cons as soon as they took power of course).
Next year will present an opportunity for a new platform but I expect many of these things to remain on it. I encourage you to look into all of the party platforms at that time. I occasionally check in on them off season as well, for example to find out what Conservatives are proposing for after they “axe the tax” (spoiler: nothing), but haven’t looked at the NDP recently.
Thank you for the info. I look forward to researching this all when I’m free from work.
No problem, I’m starting to think about what I’ll do next election so it’s a good push to start looking into changes since 2019 myself. A lot has happened to say the least.
CBC usually puts out a political compass quiz that’s a way to see where you land compared to parties on policy points. I’m looking forward to it.
I always find this quiz is a nice start to see what platforms you may agree or disagree with. I’d like to start my reading now as well. I always find the actual runup to elections are so full of BS from everywhere.
I much prefer to choose based on past promises and actions rather than future best wishes.