Sentences with phrase «of more tax revenue»

«There may be economic benefits in terms of more tax revenue and money spent in neighborhoods.

Not exact matches

Look for more money to be given to the Canada Revenue Agency to fight offshore tax evasion, an investment that has so far helped the CRA reap millions in extra tax dollars while at the same time achieving the aim of discouraging tax evasion by Canadians.

However, a couple years later, as the business began to earn more revenue, Turner was shocked by the amount of taxes he was paying the IRS.

Indeed, the Prostitution Information Centre in Amsterdam reports that only 5 % to 10 % of the Netherlands» more than 8,000 prostitutes actually pay taxes on the estimated US$ 800 million in annual sex revenues.

If real GDP were to increase at 10.3 % instead of 2.5 % in 2015, then the government should receive, at a minimum, an extra $ 6.6 billion in tax revenue thanks to economic growth (this calculation assumes that nominal GDP grows at the same proportion as real GDP; it is more likely that nominal GDP would rise even higher as such quick economic growth would be inflationary, pushing that $ 6.6 billion figure even higher).

Though Canada's provincial revenue volatility troubles have much more to do with resource royalties than personal income taxes, Alberta and Newfoundland could perhaps learn a thing or two from the trials and tribulations south of the border — and how the smartest states are trying to fix the problem.

And all of them argue that the proposed tax cuts, estimated to reduce federal revenue by more than $ 1.4 trillion, won't increase federal deficits, an assertion that's been contradicted by Congress's official tax scorekeeper.

In 2009, General Motors killed its Pontiac line of vehicles, which was named for the city, and then announced the closure of two local plants, putting more than 2,000 people out of work and costing the city a huge chunk of tax revenue.

I was CFO of a successful software company that had to show average returns of more than 25 percent of revenue to the bottom line after taxes, growth of more than 50 percent per year for five years and an excess of $ 20 million in annual revenue before the bank would release the owner's personal guarantees.

With more square miles (kilometers) than Manhattan, Boston and San Francisco combined, Detroit didn't have enough tax revenue to reliably cover pensions, retiree health insurance and buckets of debt sold to keep the budget afloat.

The above - referenced editorial also points out that 48 % of state and local revenues collected in N.J. come from property taxes, which is off - the - charts high: «No other state derives more than 41 percent of its revenue from that source; the U.S. average is 33.1 percent.»

Cuts to the highest per - capita spending in Canada will doubtless be part of the budget Premier Alison Redford unveils on March 7, but a shortfall on the revenue side, namely oil and gas royalties, has prominent Albertans calling for a more stable source of funding: a provincial sales tax.

As part of the explanation as to why Europe gives proportionately more ODA, Gunzburg noted that countries with bigger welfare states — like those for which the Scandinavian nations are famed — tend to pay higher taxes, leading to more government revenue that can be spent on aid.

Corporations Tax revenue tends to grow more slowly than corporate profits due to tax provisions, including the carry - forward of losses for up to 20 yeaTax revenue tends to grow more slowly than corporate profits due to tax provisions, including the carry - forward of losses for up to 20 yeatax provisions, including the carry - forward of losses for up to 20 years.

Budgetary revenues as a share of GDP are projected to decline from 14.8 per cent in 2015 - 16 to 14.4 per cent in 2025 - 26, as higher personal income taxes, resulting from the progressivity of the tax system, are more than offset by stability or declines in the other taxes.

In addition to the aforementioned reasons (to finance governmental spending and make up for lost tax revenue), the Treasury has wanted to hold a more robust cash - balance position as a matter of prudent policy in order to protect against a potential interruption in market access.

More than half of revenue from the tax goes to schools.

Matt Yglesias raises an important point here about conservatives who can't abide any increase in tax rates but will entertain raising more tax revenues through reductions of tax expenditures — that cool trillion or so we forgo in tax revenue each year through various favored activities in the tax code, like the mortgage interest deduction or the... Read more

The replacement of the federal manufacturer's sales tax with the Goods and Services Tax in 1991 removed economic distortions and provided the government with a more reliable and stable revenue sourtax with the Goods and Services Tax in 1991 removed economic distortions and provided the government with a more reliable and stable revenue sourTax in 1991 removed economic distortions and provided the government with a more reliable and stable revenue source.

Financial Aid: In 2017, for the first time ever, America's public universities received more revenue from tuition than they did from tax dollars — a funding model that places a higher burden on students and their families and risks widening economic inequality, even as the population of would - be students becomes more diverse.

a director (or an immediate family member of a director) serves as an officer, director or trustee of a tax exempt organization, and the Company's contributions to the organization, in any single fiscal year, are more than the greater of $ 1 million or 2 % of that organization's consolidated gross revenues, provided that such contributions do not exceed the limits set forth in Paragraph A. 5 (c) above and that disclosure is made in the Company's annual proxy statement;

While falling oil prices spurred discussion of a provincial sales tax to help plug the hole in the province's royalty revenues, Alberta needs to consider more consequential measures.

Of the year - over-year improvement, budgetary revenues were up by $ 11.4 billion, primarily due to higher personal and corporate income tax revenues, while program expenses were up by $ 0.4 billion, as lower other transfer payments and employment insurance benefits were more than offset by higher transfers to provinces / territories, elderly benefits and other direct program expenses.

Higher - than - expected corporate income taxes and lower - than - expected «other transfers» should more than offset shortfalls in any of the other revenue components.

A lower tax on land rents leaves more to be capitalized into bank loans, and hence inflates the price of housing — while government revenue is balanced by burdening labor and industry with income and sales taxes.

You think that a good economy would generate more tax dollar revenue, and rising interest rates are a reflection of a stronger economy.

Indeed, looking at two nearly - identical tax reform packages, the Joint Committee on Taxation estimated in 2011 that one producing $ 600 billion of net revenue would generate about one - third more growth over the long run than a revenue - neutral tax reform with the same structure.

In fact, noting that 50 % of the MSP premiums have already been eliminated (with the impact being absorbed in «general revenues»), the new payroll tax collected will more than make up the remaining MSP revenue shortfall, and is a material contributor to achieving the balanced budgets that are forecast.

Proponents of full expensing also suggest that bonus depreciation is a tax cut that pays for itself, citing dynamic revenue estimates that show increased economic activity will bring in more revenue than the provision costs.

«A focus on supporting innovators will help the government generate more revenue than its proposed tax changes contemplate,» says John Ruffolo, CEO of OMERS Ventures and Vice-Chair of the Council of Canadian Innovators.

Even though federal corporate tax rates have fallen by more than half over the past 30 years, corporate income tax revenues have continued to fluctuate around two per cent of GDP.

By 1946, direct taxes accounted for more than 56 per cent of federal revenue.

On the revenue side, CBO projects individual income tax revenue will remain relatively steady at about 8.3 percent of GDP through 2021, rise gradually to 8.7 percent by 2025, and then rise more rapidly to 9.8 percent of GDP by 2028.

The federal Budget changed the rules a bit re the taxation of passive investment income in private corporations, but falls well short of what was promised in terms of extra revenues and more tax fairness.

A revenue - neutral tax reform that shifts the balance of taxation more toward consumption and recurrent residential property taxes could thus strengthen the growth of output over the medium term.»

Additional stabilization from unemployment insurance, although smaller in total magnitude than that from the tax system, is estimated to be eight times as effective per dollar of lost revenue because more of the money is spent rather than saved.

Indeed, looking at two nearly identical tax reform packages, the Joint Committee on Taxation estimated in 2011 that one producing $ 600 billion of net revenue would generate about one - third more growth over the long run than a revenue - neutral tax reform with the same structure.

Detroit has more than $ 18 billion in debt and unfunded liabilities and doesn't have the revenues to meet those obligations and provide an adequate level of services to its people, who pay the highest taxes per capita in Michigan.

Subsequent tax incentives in the 1980s (such as Section 1042 of the Internal Revenue Code) allowed owners of privately held businesses to defer their capital gains taxes when they sold more than 30 % of C corporations to the employees and managers through ESOPs or eligible worker cooperatives.15 Often, retiring entrepreneurs would sell 100 % in stages so that they could fully retire if they had no heir to operate the company or the family wished to cash out on their stake.

The federal review of tax expenditures was announced in last year's budget alongside a pledge to give the Canada Revenue Agency more money to fight offshore tax evasion.

That suggests that weak domestic demand is becoming an increasingly significant source of disinflationary pressure, adding to the impact from falling world energy prices and the end of a period of administered price rises as governments sought to repair their finances by increasing revenue from sales taxes and charging more for services such as health care.

A 2014 study by Towson University's Regional Economic Studies Institute found hydraulic fracturing in that area of the state could generate more than 3,000 jobs and at least $ 5 million in tax revenue each year during peak drilling.

What's more, government forecasts show corporate income tax revenues climbing by roughly a third between now and 2015 - 16 — at which point they will account for 12.2 per cent of total federal budgetary revenues.

Plus it takes the government more than 20 % of tax revenue each year just to pay INTEREST on its debt — and that's at a time when rates are actually NEGATIVE.

«If they were at the same 21 percent share of corporate profits as they had averaged in the two decades before these cuts, the federal government would have about $ 25 billion more in corporate tax revenues annually.

These may have lessened the fall in Canadaâ $ ™ s corporate tax revenue losses, but not by much. Even worse, this tax shifting makes the overall net impact even more negative as any revenue gains from income shifting come at the expense of even greater revenue losses elsewhereâ $» and fuel a race to the bottom with tax cuts.

Steven Nivin, chief economist of the SABER Research Institute, estimated the celebrations would create 1,300 new jobs, bring 263,000 more visitors in 2018, $ 4 million in tax revenue for Bexar County and the City, $ 8 million in in - kind media coverage, and $ 45 million worth of generated wages and benefits.

Barrick's Pueblo Viejo project in the Dominican Republic provides work for 2,000 people and has spawned more than 200 new local companies, while generating 45 per cent of the nation's corporate tax revenues since it opened in 2013.

It's that time of year again when tax collectors at the Canada Revenue Agency, at the behest of their political masters, siphon more from the pay stubs of Canadians while giving corporations a New Year's bonus.

Progressives will be expecting the government to deliver on its ambitious social agenda, and will note that this could be easily funded on the revenue side by implementing a modest corporate tax increase, by scaling back the so - called middle class tax cut, and by setting more ambitious targets for the promised Liberal review of tax loopholes for the most affluent.