Recession or not, Canada's rich keep getting richer
It takes money to make money -- especially in a recession, according to the Canadian Business 2009 list of the richest Canadians. It shows that the rich kept getting richer despite the economic downturn that has cost 400,000 Canadians their jobs in the past year.
But if I were to suggest that raising the marginal tax rate on the wealthiest Canadians would be one way to help deal with debt and deficit, it would be greeted in some circles as if I had suggested we put arsenic in the drinking water.
I believe the phrase "class warfare" will be trotted out.
And bring back significant corporate taxes as well. The share of all taxes paid has plummeted, not just for wealthy income earners, but especially for our wealthiest corporations. David Lewis's "Corporate Welfare Bums" of 1972 are having a field day in which the richest Corporate Executive Officers now get two hundred and fifty nine times (259X) what an average Canadian worker earns!
Illustrative video from the Canadian Centre for Policy Alternatives (CCPA) here: 'Canada's Growing Gap Explained'