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Albertans, Did You Know You Are Supporting Foreigners On Corporate Welfare?
Corporate Motto: Think Green
What Were You Thinking?
Have you ever thought that our loyal government here in Alberta supports industrial development far more than providing income support for the poor? Less than 50% of the amount spent on corporate subsides is spent on welfare for the poor. Can we, as moral and responsible citizens justify this?
Why is it, that our province feels that it is necessary to give subsidies to the rich oil and gas industries which are mainly foreign investors? Do they really need it? The oil and gas industry can easily pay for any development in this province. On top of this, the amount of corporate tax collected by the Alberta government was a lot less than the total cost of spending on industrial development. Our royalty rates are lot lower than what other countries set for industrial development. The taxpayer’s investment in what is errightfully theirs no longer applies. The government is basically giving away our natural resources to foreigners. And they return little to Albertans.
Shouldn’t this be called corporate welfare? Albertans, who are struggling to make ends meet must still support some of the biggest and most powerful businesses in the province. Alberta gives some of the biggest tax breaks to corporations and their tax rates are the lowest in Canada, giving industries a greater control over Alberta’s natural resources.
Why should we, the taxpayers, support this huge conglomerate when we get nothing in return? The royalties and corporate taxes should provide basic necessities for Albertans a basic income for people on welfare, educati9n, health care and transportation.
Over the last couple decades, our “good-intentioned” government decided to make cuts in public services – closing schools, hospitals, cutting staff in many government offices. We wouldn’t need to reduce our public spending; if and only if, the government charge reasonable corporate taxes and reduced the subsidies.(Have them tighten their belts a bit, everyone else has)
The oil and natural gas corporations have been supported by governments that accept oligopoly and provide a wide range of economic assistance. Thus the oil industry has never operated in a free market. The government has provided numerous monetary breaks to the multinationals. Yet, you would think that the government should have the responsibility for controlling and using non-renewable resources. The government has a moral responsibility to ensure that future generations benefit in some way.
The government has missed opportunities to look at other alternatives besides supporting a very risky and short-term oil and gas industry. When the price of oil went well above $100/barrel, the government should have increased corporate taxes and royalty rates and encourage capital investment in alternative energy ventures. When the price of oil goes up (and it will go up), the government better capitalize on the opportunity to change directions – for the benefit of all future generations. Oh, by the way, alternative energy industries will create jobs!