Well that’s an opinion. I say you can do both. Cut the shit out of CP and tax the right.
I don’t believe a ton of small businesses are going to close, and yes union job will be lost. It sucks but that is the reality of an industry that is becoming less and less needed. And yes international couriers will most likely take over but they can handle it. So what.
Cut CP and tax the rich. Win win.
So easy to say "tax the rich".
According to a new Fraser Institute study, mentioned in today's Toronto Sun, the top 20% of Ontario's income earning families, those earning $261,620 or more, earn 49.9% of all income in the province, yet pay 56.9% of personal Federal and Provincial income taxes, plus 58% of total taxes collected by all three levels of government in Ontario.
The middle 20% of Ontarian families - those earning between $112,134 and $169,493 - earn 14.7% of total income, yet pay 10.3% of personal income taxes and 12.8% of total taxes.
The bottom 29% of Ontarian families, those earning less than $65,100, earn 4.7% of total income, yet pay 0.8% of income taxes and 2% of the total taxes.
So, not only do high-earning families pay the majority of all taxes in the province, they're also the only group to pay disproportionally more than their share of total income.
And that does not include people who work in cash businesses, such as some types of construction, or the sex industry, and who, despite earning decent incomes, often declare little or no income and pay little or no taxes. So they are, in effect, being subsidized by honest taxpayers.
I make a pretty good income, but with a high top marginal tax rate, my net income is just covering my monthly rent, personal expenses and much-needed assistance for one of my children who has a lot of prescription medicine needs not covered by OHIP, and can't find a full time job that pays a basic living wage. My son works in construction. If he gets laid off in the current new construction slump, I'll have to help him too.
The rich are taxed enough. Extreme taxation kills the incentive to work harder, or create more, when the government is clawing away much of people's income rewards for their above average hard work and efforts.
Part of the reason for the U.S. economy's relative success compared to Canada is the far lower personal income taxes they pay.
Jenesis, maybe you declare all your income, or maybe you don't. It's none of my business. But if you're not declaring your full income and paying the required income taxes, saying "tax the rich is" way too convenient and inappropriate.