The federal government is expected to introduce an austerity budget on March 29 that will cut vital public services and many of the public sector jobs that deliver them. This approach will lead to more unemployment, lower tax revenue, dimished social programs, and could even push the Canadian economy back into recession.
But there is an alternative to cutbacks as a way to reduce the deficit.
The Alternative Federal Budget 2012, released March 15, shows how the federal budget could create over 300,000 jobs, reduce poverty, protect the environment, implement a national pharmacare plan, introduce a child care initiative, and still reduce the deficit.
One of the keys to achieving this is a tax fairness plan that includes:
- Increasing tax rates on top incomes;
- Reversing the race to the bottom with corporate tax cuts;
- Eliminating unfair tax preferences, closing tax loopholes and access to tax havens;
- Applying financial activities or transactions taxes;
- Introducing an inheritance tax on large estates;
- Starting to introduce smart — and progressive — green taxes.
These tax measures and the elimination of subsidies to oil companies could raise an additional $50 billion a year that could go towards reducing the deficit and implementing new programs such as a pharmacare plan, child care, climate change action plan and a poverty reduction plan.
Send a message to Finance Minister Jim Flaherty and your Member of Parliament calling for tax fairness rather than cutbacks.
Find out more about the Alternative Federal Budget: A Budget for the Rest of Us.
Try your hand at creating a federal budget. Check out the Alternative Federal Budget calculator.
Send a message to Finance Minister Jim Flaherty and your MP to let them know you support tax fairness alternatives to deep budget cuts.
Help spead the word that cutbacks are unneccesary and ill-advised. Post your views on social media and send a letter to the editor of your local newspaper.
There is a better way to slay the deficit without killing the economy.