1. Canada’s mixed economy
All economies are mixed to a degree because they use ideas from both market (supply and demand, competition) and planned economies (government intervention); however it is the degree of government involvement and the emphasis on equality.

2. Essential features Incentive of equality for all people
Public and private ownership of property
Private ownership = feeling of control, provides incentive
Public ownership = ideals of equality and economic strength is promoted (usually in areas of national importance, areas of high risk or to protect employment)
Joint ownership is often favored
Government controls and subsidies
Redistribution of wealth
social programs and progressive taxation, direct and indirect taxation (GST, airline fuel taxes)

3. Challenges Paying the price for social programs
Difficult to raise taxes and lower social programs during economic upswing (hurts middle class)
Large bureaucracies

4. Progressive Taxation (2008 rates)
Federal Taxes
Newfoundland and Labrador
8.2% first $30,215 of taxable income, +
13.3% on the next $30,214, +
16% on the amount over $60,429
Manitoba
10.9% $30,544 of taxable income, +
12.75% on the next $35,456, +
17.4% on the amount over $66,000
Ontario
6.05% $36,020 of taxable income, +
9.15% on the next $36,021, +
11.16% on the amount over $72,041
Alberta
10% of taxable income
15% on the first $37,885 +
22% on the next $37,884 +
26% on the next $47,415 +
* 29% of taxable income over $123,184 +

5. The top 1% of earners pay more, but what’s in it for them?

6. Health Care Public Health Care Private Health Care
Pro: everyone is taken care of, regardless of income; encourages a healthier populace (workforce)
Con: not all treatments are covered, wait times, bureaucratic waste
Private Health Care
Pro: competition encourages better treatment of patients
Con: profit motive encourages corporations to look at profits over patients, not all people can afford it, refusal for some treatments
Two Tier Health Care
Pro: those who can afford it get out of public system (reduced gov costs and wait times)
Con: treatment not universal, brain drain