Comment 77078

By A Smith (anonymous) | Posted May 17, 2012 at 11:25:48 in reply to Comment 76946

>> Downtown streets are supposed to be full of life, commerce, people and vibrancy.

And without cash in the pocket of residents, how can it be so? Since 1980, federal corporate tax rates have fallen from 38% to 15%, while welfare now barely covers rent.

From 1970-80, the top tax rates in Ontario averaged over 60%, while worker productivity averaged 1.85%/year. In the past decade, productivity has averaged only 0.8%.

In the past decade, Canadian corporations have added half a trillion to their balance sheets, while household debt has risen from 60%/GDP to 93%. In the eighties, household debt averaged about 45%.

Any area where people line up at food banks, regardless of the street configuration, is not going to have a vigorous commercial sector.

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