Friday, August 31, 2012

A Sage Observation

Paul Kahnert of Markham has an uncommonly apt observation in this morning's Star, one that I'm sure the ideologues leading us both federally and provincially will choose to ignore:

Re: Canada’s idle threat, Business Aug. 25

It’s time to reverse corporate tax cuts. David Olive’s article was proof positive that tax cuts don’t work. Weren’t tax cuts for corporations supposed to make them “competitive” and create lots of job for Canadians? We’ve been conned. The only thing tax cuts created was massive wealth for corporations and the top 1 per cent.

Corporate tax cuts have been one of the main contributors to the $526 billion of profits sitting idle in their bank accounts. Right now provincial and federal deficits are running at about $65 billion a year. All governments are crying poor and say they can’t afford to pay for public services like health care, education and infrastructure like water, sewage roads and bridges. Baloney.

We don’t have a deficit problem. We have a distribution of wealth problem. Governments need to tax that money back and get on with the job of building this country with good jobs.

And all of us need to stop voting foolishly for politicians who keep promising us tax cuts.

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