“Ontario’s ‘rich tax’ risks making the country poorer”. This is front page news in the Business Section of the Star of June 14. The source of this information is the C.D.Howe Institute. You can find the Wikipedia article on this Institute here.
If you go to this link you will find that the institute is independent, and funded by “individual and corporate members”. If you happen to be a member of this Institute, please let me know. I can assure you that I am not so blessed.
The threat, to which they are responding, is a tax increase of 2% on incomes over $500,000. May I make a point with some personal numbers.
I believe the maximum combined individual tax rate in Canada / Ontario is now 48%. In about 1995 that maximum rate was 52%, and it cut in well below $100,000 per year. Some almost-ordinary people paid that rate. Today those making more than five times that income are balking at paying 50%, on the excess over $500,000.
If you follow the link given above, you’ll learn that this institute has proudly lobbied for lower business taxes, pension “reform”, and other social boons. It is, imho, a lobby group funded by and for the rich and their corporations.
I’ll bet some of their wonderful, independent ideas are part of the current Bill C-38, with its 450 pages of obfuscation and 70 changes to federal laws.
I think all publications that quote named, supposedly authoritative sources, should be forced to provide a sidebar describing that source.
You have a right to know whose opinion is being stated as fact.