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It is a statistic that should disturb even the most unflappable among us. It is also a window through which we see the bald lie in the Harper claim that his government is the best one to manage the nation's economy.
An RBC survey has revealed that three-quarters of Canadians are imprisoned by debt, exclusive of their mortgages, to the tune of an average $16,000.
That number reveals a myriad of truths. It reveals that good jobs are becoming increasingly scarce. It reveals that the precariat is extensive, and hardly limited to university grads carrying heavy debt and contending with contract work. The statistic attests to a world in which minimum wage jobs are proliferating, new jobs being created are largely part-time ones. food bank use is rising. and increasing numbers are facing retirement with little or no savings.
But of course, the wily Harper has a secret weapon at his disposal: people's greed and self-interest. Because deficit reduction continues apace, it is doubtlessly his strategy to go into the 2015 election with it eliminated so that he can make good on his promise to allow income-splitting for parents with children under 18; under the proposal, people would be allowed to split up to $50,000 of income with their partner. It is a scheme, as pointed out by Andrew Jackson and Jonathan Sas, that
will further shrink the federal tax base with little economic or social gain for most families. What it will achieve is the hamstringing of future federal governments, whose ability to make needed public investments and fund critical social programs like child care, parental leave, good pensions, or world-class public health care will be blunted.
As well, the authors go on to cite this study:
A detailed analysis for the C.D. Howe Institute calculates that 40 per cent of the benefits of family income-splitting would go to families earning more than $125,000. David Robinson of the Canadian Centre for Policy Alternatives calculates that 61 per cent of the benefits would go to families earning more than $100,000.
And, as Thomas Walkom points out in today's Star, while the spectacle of the Prime Minister giving non-answers to Thomas Mulcair's probing inquiries about the Senate scandal is diverting, it masks a deeper rot which the Prime Minister refuses to acknowledge: his inept handling of our economy.
Quite a legacy the man will leave, when he is finally forced from office.
