Economic and Health System Comparison between U.S.A and Canada Essay

Economic and Health System Comparison between U.S.A and Canada - Essay Example The Canada Department of finance publishes tax expenditure estimates and projections belonging to personal and corporate income taxes. In addition, the department also brings into the public domain goods and services tax (GST) since 1994. Finance Department does the publication in two different documents. The first document is known as tax expenditures and Evaluations. The document provides for a broader definition of estimates and projections of tax expenditures. Besides tax expenditures, it also outlines analytical papers that address particular tax measures. Tax expenditure is the second document that outlines the objective of tax expenditure and describes the calculations of projections and estimations of tax. The Department of Canada prepares this document annually and makes it available to its website. However, tax expenditures in America and Canada show a lot of variations and differences though there are a few notable similarities. The two states have almost similar sectors in which they redistribute their tax expenditure, but comparing them reveals different priorities. Such priorities are more pronounced in the education, health, medical, military, Social Security among other sectors. US tax expenditure has been growing over time since its introduction in 1960’s with a focus mainly given to the defense department. However, in the recent past, the focus is shifting from defense towards health care and Medicaid. Canada has also shown the same trend in tax expenditure increase since 1994 to date, though with the focus on different sectors. Both America and Canada have comprehensive health or medical tax expenditure coverage. However, the two states have various contrasts in the amount and manner of acquisition. Both Canada and the US have shown gradual growth in the health expenditure over the years since their introduction. Canada, for example, divided its health tax expenditure into four