For this year’s Canadian Federal Election 2015, the four major parties: The Conservative Party, The Liberal Party, The New Democratic Party and The Green Party has promote different plans aiming to improve and enhance a better Canada. Each party has a different focus on their plans: The Conservative Party aiming to protect the economy and create jobs; The Liberal Party focusing on investing the future, helping the middle class and creating an honest and open government; The New Democratic Party promoting quality childcare, strengthening the health care system, making a better environment by ensuring the responsibility of the polluters and creating good jobs; and lastly The Green Party envisioning a strong, secure and sustainable Canada. Although
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To protect and strengthen the economy, the major focus of the Conservative Party is to staying the course and keeping the taxes low. One of the plans is the family tax cut; Steven Harper, the leader of the Conservative Party, has focused on income splitting, which can be applied to families that have children under 18. This is a tax policy in which the spouse with a larger income will assign part of his or her income to the lower earner for tax purposes. For this policy, only families with children under 18 with two parents in different tax brackets will benefit from. The Conservative Party estimated that income splitting will benefit around 1.8 million families, and with this policy, it provides a more generous amount of pay cheques to parents and doubling the maximum contribution to their Tax Free Saving …show more content…
One of the biggest tax measure that the New Democratic Party promotes for the enhancement of the economy is by cutting taxes for Canada’s job creators by reducing the small business from 11 percent to 9 percent, and raise corporate taxes. Tom Mulcair, the leader of the New Democratic party, plans that this policy can spur job creation in the economy at the small business level, which also includes the country’s biggest employers. Even though The New Democratic Party proposed a raise for the corporate tax rate, they also promise that the corporate tax rate competitive by ensuring that it is always below the United States federal corporate tax rate. This policy will benefit the middle class by offering more job opportunities and create an incentive for Canadians to start small
To protect and strengthen the economy, the major focus of the Conservative Party is to staying the course and keeping the taxes low. One of the plans is the family tax cut; Steven Harper, the leader of the Conservative Party, has focused on income splitting, which can be applied to families that have children under 18. This is a tax policy in which the spouse with a larger income will assign part of his or her income to the lower earner for tax purposes. For this policy, only families with children under 18 with two parents in different tax brackets will benefit from. The Conservative Party estimated that income splitting will benefit around 1.8 million families, and with this policy, it provides a more generous amount of pay cheques to parents and doubling the maximum contribution to their Tax Free Saving …show more content…
One of the biggest tax measure that the New Democratic Party promotes for the enhancement of the economy is by cutting taxes for Canada’s job creators by reducing the small business from 11 percent to 9 percent, and raise corporate taxes. Tom Mulcair, the leader of the New Democratic party, plans that this policy can spur job creation in the economy at the small business level, which also includes the country’s biggest employers. Even though The New Democratic Party proposed a raise for the corporate tax rate, they also promise that the corporate tax rate competitive by ensuring that it is always below the United States federal corporate tax rate. This policy will benefit the middle class by offering more job opportunities and create an incentive for Canadians to start small