Canadians are incredulous at reports that shows Canada’s highest paid 100 CEOs’ compensation hit a new high of an average of $9.5 million or 193 times more than someone earning an average wage.
Even more maddening is the news that taxpayers are subsidizing those billion dollar salaries because Prime Minister Trudeau has failed to axe the stock option loophole that taxes only half the income from stock options. And now we’ve learned that the Prime Minister broke that election promise after some powerful corporate lobbying last year, just before the federal budget was tabled.
Here’s your chance to remind Justin Trudeau of his promises. Remind him that failure to keep his word is costing billions. He chose to keep this perk for wealthy CEOs while telling us we can’t afford Pharmacare, a childcare program or many of the other investments that would make Canada stronger. That’s just not right.
Caving to Bay Street lobbying to keep those perks in the last federal budget was a bad move. It let Canadians down.
It happened again in this year’s budget. But they said they are continuing to review tax loopholes and may close some more in the fall economic update or in next year`s budget.
Send a message to Prime Minister Justin Trudeau and Finance Minister Morneau to axe the stock option tax loophole.
Remind him that ordinary Canadian taxpayers are paying attention. Tell him to keep his promise to make taxes fairer.