Donald Trump announced Thursday the U.S. will charge a 35 per cent tariff on Canadian imports starting Aug. 1. In an open letter to Mark Carney that was posted on Truth Social, Trump said the U.S. would increase the percentage if Canada responded.
As far as the DST. I find it interesting that a tax we never collected is being framed as a loss we deserve compensation for.
I can explain that. While on the one hand I don’t really have a problem with attempting to level the playing field between international tech companies that don’t pay any corporate taxes in Canada and local Canadian companies who do, the big problem is that ultimately the pocket that those taxes will come from is “all of us” (at least those of us who use American online services). The companies weren’t going to take a loss — they were just going to jack up the prices they charge to Canadians.
And because the payment was intended to be retroactive to 2022, we’ve likely already been paying it. Again, big tech companies weren’t going to take a loss, and they’ve known about the payment date for years now, so they’ve been collecting it from us in the form of higher subscription fees and rates. And now that the DST is cancelled — they get to keep it. Oh, and as we’re now all used to paying the higher rates, they get to keep that too.
So that’s where the loss is. IMO the DST wasn’t all that great an idea to start with (taxing those companies sounds great until you realize they’re just jacking their prices up on us to pay for it), but having told companies to plan for it all these years and then yank it back has just put a ton of Canadian dollars into their coffers they don’t have to give back. And they’ll keep charging us the jacked-up rates we’re now used to and keep that as well.
I can explain that. While on the one hand I don’t really have a problem with attempting to level the playing field between international tech companies that don’t pay any corporate taxes in Canada and local Canadian companies who do, the big problem is that ultimately the pocket that those taxes will come from is “all of us” (at least those of us who use American online services). The companies weren’t going to take a loss — they were just going to jack up the prices they charge to Canadians.
And because the payment was intended to be retroactive to 2022, we’ve likely already been paying it. Again, big tech companies weren’t going to take a loss, and they’ve known about the payment date for years now, so they’ve been collecting it from us in the form of higher subscription fees and rates. And now that the DST is cancelled — they get to keep it. Oh, and as we’re now all used to paying the higher rates, they get to keep that too.
So that’s where the loss is. IMO the DST wasn’t all that great an idea to start with (taxing those companies sounds great until you realize they’re just jacking their prices up on us to pay for it), but having told companies to plan for it all these years and then yank it back has just put a ton of Canadian dollars into their coffers they don’t have to give back. And they’ll keep charging us the jacked-up rates we’re now used to and keep that as well.