Background here. h/t: NationalNewswatch.com
There is no excuse for Ontario to have high taxes, including high corporate taxes.
Ontario desperately needs to have her taxes cut if she wants to avoid becoming a have-not province.
It's laughable that Ontario wants extra money from Ottawa so as to attempt to artificially, temporarily boost, via corprate welfare, its automotive and other industries while refusing to do its part to help businesses by slashing their punitive, competitiveness-killing tax burden.
There is no debate, really. High taxes kill jobs. Tax cuts stimulate their creation. I could go on and on, but I'd urge skeptics and self-evident-truth-deniers to take a couple of introductory economics courses at university or at least go and buy the textbooks those courses use and make use of them for their own enlightenment. It's that easy! I'd just hope that the particular textbooks wouldn't be written by "progressives".
Federal Finance Minister Flaherty is correct to advise Premier McGuinty to slash corporate taxes. The Premier is well-advised to heed this advice or run the risk of destroying his economic credibility and being blamed for a recession in Ontario.