« Home | The Rise Of Right Wing Nationalism In Canada » | Two 73 year old veteran CFL players brawl at Grey ... » | Why Does Stephen Harper Exempt Suncor From Syrian ... » | We've Lost One Of The Good Ones .... Sask Blogger ... » | Rob Anders - Conservative MP - Caught On Camera Fa... » | Ethical Asbestos - How Canada's Conservative MP's ... » | Saskatchewan's New Democrats Select Interim Leader... » | Stephen Harper Is Prepared To Take Canada Into War... » | Maybe We Should All Yell 'FU@K'!! » | Federal Conservatives Stand Behind Our Veterans ..... » 

Monday, December 05, 2011 

Thanks To Guys Like Stephen Harper And Brad Wall - Canada's Rich Still Getting Richer While Working Families Struggle

Canadian Prime Minister Stephen Harper and his good friend, Saskatchewan Premier Brad Wall, both adhere to the flawed 'trickle down' economic theory. They firmly believe that if you stoke the rich and corporate sector of the economy, the lower working class rung will benefit.

They are wrong. Their suppression of wages for working people and massive tax cuts for the rich have failed to bring any degree of economic equity for Canadians.

"The wage gap between the top and bottom income earners in Canada is widening, largely due to tax policies, a new report from the Organization for Economic Co-operation and Development said Monday.

The report found that the top 10% of Canadians in 2008 earned $103,500 on average, 10 times higher than the bottom 10%, who made an average of $10,260.

This is up from a ratio of 8 to 1 in the early 1990s.

The top 1% of Canadians, meanwhile, saw their share of the country’s total income increase to 13.3% in 2007 from only 8.1% in 1980.

And the very richest of Canadians, the top 0.1%, had their share of income more than double, to 5.3% from 2%.

The results suggest Canada needs to update its tax policies as taxes and tax benefits in particular have become ineffective in wage redistribution, the OECD said.

“The growing share of income going to top earners means that this group now has a greater capacity to pay taxes,” the report said. “In this context governments may re-examine the redistributive role of taxation to ensure that wealthier individuals contribute their fair share.”

The top federal marginal income tax rates declined markedly in the past 30 years, falling to 29% in 2010 compared with 43% in 1981.

As well, tax benefits now only offset less than 40% of wage inequality, compared with more than 70% before the mid-1990s.

“Taxes and benefits reduce inequality less in Canada than in most OECD countries,” the report said. “Benefit rates fell and benefits became less targeted. Changes in income tax rates played less of a role.”

Financial Post

-Here's what I'm Talking About .....

Well, wages are growing faster in Saskatchewan than elsewhere. And average wages in Saskatchewan are second only to Alberta.

http://www.leaderpost.com/business/Saskatchewan+leads+country+average+wage+growth/5763523/story.html

"Canadian Prime Minister Stephen Harper and his good friend, Saskatchewan Premier Brad Wall, both adhere to the flawed 'trickle down' economic theory. They firmly believe that if you stoke the rich and corporate sector of the economy, the lower working class rung will benefit."

No they don't. They just pretend to, because admitting they're just fine with hosing most of the people of Canada so their buddies can get even richer wouldn't be very popular. They're lying like rugs.

Let me translate Leo's comment: "When you feed a bushel of oats to the horse, the greedy little sparrows get more than their fair share at the other end of the horse." Leo ... your point does not relate to the topic in my original post. The gap between RICH and POOR is expanding. The fact that the wage earning sector get some crumbs from the table does not change the fact that the gap between RICH and POOR is expanding PERIOD!

Nice deflection though :)

Post a Comment



Follow leftdog on Twitter




About Me

BANNED FOR ABUSIVE BEHAVIOR

  • -Carmichael-
  • Things I Read

    • -Canadian Political Viewpoints-
    • -ZAG-
    • -Next Year Country-
    • -Huffington Post: Canada-
    • -LEFTIST JAB-
    • -Let Freedom Rain-
    • -Informed On Information-
    • -Wellington Post-NDP-
    • -Trapped In A Whirlpool-
    • -Larry Hubich's Blog-
    • -ROGERISM-
    • -Leftdog's Daily KOS Blog Page-
    • -RIDER PROPHET-
    • -Dipper Chick
    • -Ideagist -
    • -Al Barger's MORETHINGS.COM-
    • -Canadian Cynic-
    • Saskatchewan Progressive Bloggers
    • *NEW DEMOCRATIC PARTY*
    • My Zimbio
      Top Stories
    • Blogarama - The Blog Directory
    • Politics Blogs - Blog Top Sites
      View blog authority
    • Display Pagerank
    • Canada's NDP
Powered by Blogger
and Blogger Templates