Category Archives: Finances

De Clark: A Deep Dive into Neoliberalism

Manda Aufochs Gillespie/Folk U – On February 21, 2025, host Manda Aufochs-Gillespie was joined by De Clarke for a deep dive into neoliberalism—its history, impact, and the debates surrounding its influence on economics, politics, and society. How do current trends in US and Canadian politics affect us on Cortes?

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Would Universal Basic Income work in the SRD?

One of the most controversial ideas being considered in the SRD’s Poverty Reduction Plan is advocating for a Universal Basic Income (UBI). (A higher level of government would need to implement this.) There are numerous examples showing that UBI is an effective way to raise people out of poverty. The problem is too much of the financial impact may fall on the diminishing middle class ($50,000-$135,000 per anno in BC) rather than the rich who appear to be increasingly growing richer.    

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Round Two Of The Giving Well Program

The Cortes Island Community Foundation is running a second round of the Giving Well program that provides one-time tax free cash “gifts” of between $5,000 to $10,000 to individuals. 

Isabella McKnight, Executive Administrator of the Cortes Foundation explained, “The first round was extremely successful. We were able to give over $180,000 to 30 different individuals and families in need. So far, the feedback from that has been really great,  it was just the right amount at just the right time. The money went out right before Christmas, so that felt extra good as well.”

“We’ve got about $25,000 (each) for five categories to give out to families and individuals who are in acute financial need.” 

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Canada’s National Debt in 2023 (Includes Cortes and Area C data)

According to the Canadian Taxpayers Federation, the National Debt is now close to $1.21 trillion dollars, which amounts to $30,602 per Canadian. The government expects to pay more than $46.5 billion to service the debt for 2023/24. This exceeds 10% of the federal revenue threshold, recommended by David Dodge, former Bank of Canada Governor. A report from the Fraser Institute states: “In 2021, the average Canadian family (in which two partners are working) earned an income of $99,030 and paid total taxes equaling $42,547 (43.0%).” What does this mean on Cortes Island? Or in Area C?

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Canada’s emergency wage subsidy served as ‘blank cheque’ for companies: Canadians for Tax Fairness

By Natasha Bulowski, Canada’s National Observer, Local Journalism Initiative Reporter

Some of Canada’s biggest corporations received a pandemic subsidy intended to keep their employees on the payroll, but a new report finds that in many cases, these large companies actually reduced employment while padding the pockets of shareholders.

These findings, from a report by Canadians for Tax Fairness, should make Canadians angry and point to a double standard, the federal NDP’s finance critic Daniel Blaikie told Canada’s National Observer in an interview. It is “egregious” for the federal government to have the Canada Revenue Agency (CRA) “hound” some individuals who applied for and received financial support through emergency programs like the Canada Emergency Response Benefit (CERB) to return the money, he added.

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