Comment 76406

By A Smith (anonymous) | Posted May 02, 2012 at 14:43:59 in reply to Comment 76395

From 1960-80, Ontario's top marginal tax rate averaged around 57%...

http://i49.tinypic.com/15x5z08.png

Productivity in Canada, from 1961-80, averaged 2.41%...

http://i49.tinypic.com/33ku5j6.png

Since 2000, the combined federal/provincial corporate tax rate has fallen from about 43%, to 27% and real welfare payments have been reduced...

http://www.budget.gc.ca/2008/images/chap3-9b-eng.gif

In that time, productivity has averaged 1.00%.

Household debt, which eventually has to be paid back, jumped from 30%/GDP to 37%/GDP, from 1969-85. This was an average increase of 1.1%.

Since 1985, household debt has jumped 36% to 90%, an average annual increase of 3.7%.

From 2000-11, Canadian corporations have averaged surpluses (profits-investment) of $47B/year. In that same period of time, households and small businesses have averaged deficits (spending-income) of $29.2B.

>> How much of other people's hard work do you folks feel that you are entitled to?

I would put it like this. If rich people and corporations want to spend their hard earned dollars, thus creating jobs for yacht builders, luxury car workers and granite tile setters, they should be taxed at a lower rate.

However, if all they want to do is hoard cash and kill jobs/production, then they should be taxed at much higher rates.

It simply isn't fair for the winners in our economy to take all the chips and leave the game, which is essentially what they are doing. Government issued money is meant to be spent, not hoarded.

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