Outraged at the story that the CEO of Target who is getting a $70 million personal severance package that equals the total amount being offered to all 17,600 laid off Canadian employees? You aren't alone. Sadly the story gets even more outrageous than that. While regular workers pay tax on each and every penny of their severance, CEOs get a tax free pass on 50 per cent of income from stock options. We have to clean this up.
By owning 70 per cent of their own oil production and taxing oil revenues at close to 80 per cent, Norway is now saving about $1 billion per week. The so-called "Calgary School" of economic thought would say this stunning socialist success story is impossible in the same way that scientists used to believe that bumblebees cannot fly.
A new survey by the Broadbent Institute shows Canadians support no-nonsense changes to our tax system. Smart tax policy is one of the most direct ways of closing the ever-widening income gap. It is time for the Prime Minister to listen up.
Editor's Update: The Globe and Mail has published an editorial on the government spending taxpayers' money on income splitting ads. We've had lots of comments and support since we raised the issue earlier this month. There's no question - it has raised the ire of many Canadians.
Wise words from a great Canadian who believed in strength and compassion:
"We are thankful for these and all the good things of life. We recognize that they are a part of our common heritage and come to us through the efforts of our brothers and sisters the world over. What we desire for ourselves, we wish for all. To this end, may we take our share in the world's work and the world's struggles." J.S. Woodsworth
Today’s revelations that more senior tax auditors have received notices from the Canada Revenue Agency shows that the federal government has no intention of cracking down on Canadian multinationals who are shifting profits offshore to avoid paying their fair share of taxes.
Senior auditors with the Professional Institute of the Public Service of Canada (PIPSC) are among the 220 staff who have received the news that their positions are “affected” by the government’s continuing cuts to programs and services. Over the past several years, CRA has experienced more cuts than any other federal department.