The Harper crowd is on the road again, this time to convince Canadians that what this country of ours needs more than anything else is, tax cuts to business. The move to reduce corporate taxes is right in line with solid Conservative economic thinking. The way it is sold to the voters is that when business is doing well, everyone is doing well. Keep business happy and we'll all be happy.
I just can't imagine how governments think that we, the taxpayers will, swallow this load of crap. The problem is, that this idea of trickle down prosperity is a hoax. It is a hell of a theory, it should work but it all falls apart because historically, business doesn't keep up its end of the bargain. Corporate owners and executives pocket the extra profits and laugh all the way to the bank. .
When times are tough workers are expected to accept increases that fall below the rate of inflation to help keep business afloat. When the economy gets back on track, no matter how well they are doing, business never seems to thank the employees for their help by increasing compensation willingly.
The same businesses Harper wants to reward with tax cuts are the same corporations who have shifted their production off shore putting their Canadian employees out on the street.
They under fund employees' pension plans, reduce staff and, increase workloads.
Harper tells us things are tough for business but consider this:
Canada’s best-paid 100 CEOs breezed through the worst of the recession with earnings 155 times higher than the average Canadian income earner, says a new study by the Canadian Centre for Policy Alternatives (CCPA).
The study, Recession-Proof, looks at 2009 compensation levels for Canada’s best paid 100 CEOs and finds they pocketed an average of $6.6 million during the darkest period of the recession – a stark contrast from the total average Canadian income of $42,988.
“At this rate of reward, this handful of elite CEOs pocket the equivalent of the average Canadian wage by 2:30 pm on January 3 – the first working day of the year,” says the study’s author and CCPA Research Associate Hugh Mackenzie.
Does that sound fair to you?
Consider that in the 1950's government's tax income was split about 50 /50 between individual and corporate taxes. Today individuals carry the lion's share of the tax burden and if the Harper gang get their way, corporations will see their share decrease once again.
An on line CBC poll, which I know isn't the most accurate way to judge public opinion, shows that 75% of Canadians don't support this effort.
I'm going to write to the Prime Minister. I hope you do the same.
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