Social Policy in Ontario

Raise rates on highest tax bracket

Posted on March 6, 2010 in Equality Debates

Source: Toronto Star — Authors: William Hayes

Tax cuts for the wealthy during the past 10 years have increased income inequality, beggared social programs and hampered our government’s ability to respond to the current recession.

The top 20 per cent of income earners in Canada have seen their incomes rise fastest and furthest in recent times. These people should bear the costs of recovery more than those who have gained least.

Approximately 180,000 Canadians make more than $250,000 a year and, on average, earn about $600,000. By increasing their tax rate from 29 per cent to 35 per cent, we could generate an extra $3.7 billion a year, which would enable doubling the National Child Benefit Supplement for low-income families, bringing the total child benefit close to $5,000.

William Hayes, Port Hope

< http://www.thestar.com/opinion/article/775150–raise-rates-on-highest-tax-bracket >

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