Tuesday, October 25, 2011

NDP Might Reconsider the Whole "Inheritance Tax" Thing...

I wonder if this might be the reason why no one in the NDP has ever been passionate about death taxes:
An analysis of political contributions by The Canadian Press found the New Democrats have raised more money from estate donations than any other political party.

Fifteen people have bequeathed the party more than $400,000 in recent years.

Half that came from the estate of Ruth Millicent Hass. The long-time resident of the small town of Kaleden in British Columbia's Okanagan valley died in April 2010 at age 89 and left the NDP a staggering $210,000.


... The New Democrats also got big chunks of change from the estates of Anne Murray Powell, of Toronto, who left the party $85,000 this year, and Barbara Armitage, of Duncan, B.C., who bequeathed $39,000.
The article notes that the Liberal Party and the Conservative Party, those of the big-money, richy-rich donor fame, collectively received $66,500 ($56,500 Con, $10,000 Lib) - not even 20% of the amount the NDP rake in. The Communists receive just under $23,000, and the Greens about $22,000.

Really? I mean, I don't care what you do with your money when you pass on, and leaving it to political parties you support makes a certain amount of sense. But $400K in total? Yeesh. Some people are obviously committed.

5 comments:

  1. Most of that is from the one bequest I highlighted a year and a half ago. Nice to see CP catching up to PG.

    ReplyDelete
  2. That's sadly the fate of data-gatherers, right? You might do all the work, but it's the media that gets all the attention for it!

    ReplyDelete
  3. I personally agree with an estate tax, but only a chill U.S style where only people who are valued over 5 million pay the tax, and even then have so many lousy deductions so that most people pay nothing at all. In the end it brings maybe 4 billion in revenue a year. That could help pay for the conservative mess 4 years from now.

    http://www.theglobeandmail.com/news/opinions/opinion/bring-on-the-death-tax/article2194710/

    ReplyDelete
  4. Thanks vanillaman. I'm ideologically opposed to estate taxes, but there's an obvious fiscal advantage if done right. I just can't get over the idea that government shouldn't be taxing what someone has left to their children or other inheritors. Doesn't seem right.

    ReplyDelete
  5. The thing is that only 2% of Canadian deaths would be effected, and most people would get many lousy deductions that they would barely pay anything. I understand your ideological view on the death tax, but with a U.S style system that I have proposed only the very rich would be taxed and there children will still get an enormous amount of money to live on. No child will be left with nothing.

    ReplyDelete