I’ve been on Facebook for almost a year now and have a love-hate relationship with it. For connecting me with old friends, feeling the daily pulse of people I know through status updates, and being a means of coordinating an event or party, thank you Facebook. But I am increasingly disturbed by the callous attitude taken by Facebook with regard […]
Read moreMy recent paper that found the top 1% of earners actually pay slightly lower tax rates than the bottom 10%, and much less than those in the middle- to upper-middle range, seems to have touched a nerve with my proposal that the rich actually pay more in taxes. For the defenseless and concerned wealthy out there, worry not, because Randall […]
Read moreDown in Seattle, at the Sightline Institute, Clark Williams-Derry chews on those bones of cap-and-trade and carbon tax options. Clark gets it that the Devil is in the details when it comes to design of such instruments to avoid adverse distributional impacts. Carbon Taxes: The Good and The Bad Last week’s Washington Post carried an interesting op-ed that argued for […]
Read moreA dispatch from PEF member (and essay contest winner!) Nick Falvo in Toronto: Just last week, the United Way of Greater Toronto released a report entitled “Losing Ground: The Persistent Growth Of Family Poverty In Canada’s Largest City.” Some of the findings are very disturbing. -After-tax median family income in Toronto is $41,500 ($6,100 less than in 1990, in constant […]
Read moreNouriel Roubini takes a dig at the Bank of Canada: [Yesterday] the Bank of Canada started to get it by, unexpectedly, cutting its policy rate by 25bps; but 25bps is puny given the liquidity crunch in global markets that has also spread to the Canadian markets. 50bps or more was the minimum necessary to deal with a Loonie that is […]
Read moreGeorge Monbiot gives us a good briefing note for the UN’s climate change conference in Bali. While the issue’s should not be understated, I do wonder whether we really need 10,000 people FLYING to Bali to meet “face-to-face”? Surely there is a better technological answer than that. What is Progress? When you warn people about the dangers of climate change, […]
Read moreSeeing more downside to the Canadian economy compared to worries about inflation, the Bank of Canada lowered overnight interest rates today by a quarter-point. The Bank has apparently been reading the PEF blog, as we have been calling for a rate cut for more than two months. (This is also personally reassuring as I decided to go with the variable […]
Read moreI was a testator (if I was a woman I’d be a testatrix!) to the Senate Special Committee on Aging today, along with national treasure, Bob Evans, a couple reps from the Canadian Institute on Health Information, and UNB’s Joe Ruggeri. We all pretty much agreed that aging is not the issue it is made out to be. As Evans […]
Read moreCopyright lawyer Howard Knopf, writing in the Hill Times, summarizes what he expects from the Conservatives in updating the Copyright Act to attack file sharing, all to the benefit of a US entertainment industry that has been feigning injury better than any elite soccer player. Knopf also points out many areas where Canadian copyright law is better than its US […]
Read moreCarbon tax or cap-and-trade? Oh, my ass gets sore sitting on this particular fence. Each has its pros and cons, and for each the Devil is in the details of implementation. And maybe it does not have to be either-or. With data now telling us that things (like arctic ice cover) are worse than the most pessimistic scenarios of a […]
Read moreA lot of people assume that file sharing is a bad thing for artists and their recording labels. This independent study done for Industry Canada, by Birgitte Andersen and Marion Frenz, suggests exactly the opposite: file sharing increases exposure and can increase record sales. Below is the abstract, and after that some interesting post-study commentary – all of which is […]
Read moreIn business news, shares of Hells Angels Inc and Rock Machine SA soared on the introduction of the Conservative’s new “get tough on drugs” legislation. Industry sources report they are pleased with the new initiative that will push up prices and profit margins. This is seen as a welcome about-face from the federal government compared to the flirtation with decriminalization […]
Read moreOne of my colleagues likes to say, “if you throw a rock in a barn and hear a squeal, you know you’ve hit a pig.” So it goes with a National Post column attacking my tax incidence paper. I guess my study caught their attention, though I feel like I really deserved a rebuttal from a first-line player like His […]
Read moreThe ride of the Canadian dollar is on every good policy wonk’s mind. Labour is concerned about its impact on jobs. Manufacturers are concerned about what exchange rate volatility means for their bottom lines when their sales are in one currency and costs in another. (Note: like border line-ups, exchange rate volatility is a real cost of transacting across the […]
Read moreKen Rogoff gets off to a good start on the topic of inequality and the super-rich (by way of explaining the world to his 11-year-old son) in this Guardian column: The latest Forbes list of America’s wealthiest individuals showed that last year’s highest nine earners, whose ranks include New York City’s mayor, Michael Bloomberg, managed to increase their wealth by […]
Read moreHere’e a piece that I wrote with Caelie Frampton, the Campaign Coordinator of the STOP TILMA Coalition. No pick-up in the major dailies but The Tyee has promised to run it at some point: TILMA a Major Hurdle to BC Climate Action Plans By Marc Lee and Caelie Frampton Premier Gordon Campbell has positioned BC as a global leader on […]
Read moreSome of the knee-jerk commentary in response to my paper has been about what an ideal, or fair, tax system should really look like. These people question progressive taxation. To them, I quote Adam Smith from The Wealth of Nations (from Wikipedia): The necessaries of life occasion the great expense of the poor. They find it difficult to get food, […]
Read moreThe CCPA today released my paper, Eroding Tax Fairness: Tax Incidence in Canada, 1990-2005. The Toronto Star ran a front-page story on it that is quite good. This paper was a long time in the making – while it might seem fairly straightforward to calculate the share of taxes in income for different groups, there are many tricky data and […]
Read moreYay, we’re winning the war on poverty, says Margaret Wente. Her recent column is based around the fact that the poverty rate has fallen in recent years. Wente uses this to go on a latte-fuelled SUV romp over the bodies of people who work with (and give a shit about) the poorest in our society. The sum total of statistics […]
Read moreToday’s Globe features nothing but gushing praise for the Tory tax cuts, and complete antipathy towards obvious social spending measures that would actually improve people’s lives. This cave-in to the self-interested perspective of corporate Canada is really quite scary (I was going to say alarming or troubling, but hey, it’s Halloween). Those who favour tax cuts are fortunate to have […]
Read moreThe surprise Economic and Fiscal Update delivered today demonstrates how politically clever the Harper government is, and at the same time, how out of touch they are. At a time when there are major challenges facing the country, this update, as predicted, squanders the opportunity. Tax cuts will not build any affordable housing, they will not reduce poverty, they will […]
Read moreSwelling federal surpluses provide a real opportunity for the federal government to get serious about the priorities of most Canadians: for aggressive climate change action, including major new public transportation projects; fighting poverty and homelessness in our cities, including big investments in non-market housing; in building a world-class early learning and pre-school system. This opportunity will be squandered by the […]
Read moreA group of BC-based academic economists have joined together to call for a carbon tax in a letter to BC Finance Minister Carole Taylor. BC is taking suggestions towards a climate change action budget this February. I’m not holding my breath that a carbon tax is likely; from what I’m hearing out of Victoria this stage of the game is […]
Read moreGeorge Monbiot’s book about climate change, Heat, recommends a scheme of global emission reductions based on the principle of equity. That is, every person on the planet should have an equal right to emit a certain amount of CO2 per year, with some long-term total emissions cap that keeps the planet from getting too hot. I have seen a number […]
Read moreThe BC government has gotten religion on climate change, and has committed to a 33% reduction from today’s greenhouse gas emission levels by 2020. Some of the details of how we are going to get there are now coming out, and a rolling series of announcements is expected through the Fall, leading up to a “green budget” in February 2008 […]
Read morePerhaps the strangest thing about my reunion was coming to grips with my own status as an Old Boy, albeit disconnected from the Old Boys network. Those connections were quite apparent during the reunion but the clique-iness I remember from my school days was not really present at all – as Old Boys at a reunion we were cast in […]
Read moreI was asked to submit a dream statement for a conference this weekend called Dream Vancouver. Here is my contribution: My Vancouver dream is like those ones when you are there in your house and are doing stuff – but it is not really your house here on planet Earth. My Vancouver dream is a lucid dream; I am not […]
Read moreIt is hard to imagine the federal government falling on the basis of this Throne Speech. We’ll have to see what kind of chest-thumping this generates among the Opposition parties, but I do not think any of them wants an election, and my first pass at the text says Harper blinked. Plus since Newfoundland and Ontario just had elections with […]
Read moreI took the bus to Association Day, Upper Canada College’s annual “open house”, where the school teems with students, parents, Old Boys like me, and an striking number of blond teenage girls. Heading up Avenue Road, the clock tower looms up the hill (officially it is the Rogers clock tower, a donation from long ago by the Rogers family that […]
Read moreOne of my favourite things monitoring this blog stems from a post I made last year about Aeroplan disenfranchising its members who did not keep ponying up. Almost everyday lately I have been getting a comment from some furious person who lost their points. At some point along the way someone suggested the idea of a class action suit and […]
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