Trudeau Budget Ignores Billions of Dollars in Potential Tax Revenue from Richest Canadians

Government offers the rest of us ‘Stale Crumbs’

From Rick Smith, Executive Director, Broadbent Institute

March 3rd, 2017 on Niagara At Large

I was on Parliament Hill this March 22nd while the Liberal government delivered its second federal budget.

The Trudeau government continues to leave the loopholes open for the richest of Canadians. Wonder how many of them contributed money to the federal Liberal’s last election campaign.

I’m sorry to report that the poorest and most vulnerable Canadians have been told to stand at the back of the line while the richest Canadians continue to unfairly benefit at the expense of the majority.

Budget 2017 explicitly recognizes income inequality as a concern but does virtually nothing to solve the problem. Rather than taking a bite out of the juicy tax loopholes that unfairly benefit the richest Canadians, the Trudeau government has offered up only a few stale crumbs.

Despite significant public attention, and overwhelming support for action, the 2017 budget completely ignores the inequitable tax treatment of stock options, capital gains and dividends, which are only available to the richest amongst us and which – every year – deprive the federal government of billions of dollars that could be spent to improve the lives of Canadians. In the area of income inequality, the Trudeau government has acknowledged the problem but failed to take action on a solution.

A progressive budget was possible in the age of Trump. Last week Andrew Jackson outlined how.

We need to hold the federal government accountable to their promises. Today’s budget makes clear that it’s only through sustained pushing that we will continue to make progress.

Here at the Broadbent Institute, we’re going to keep working everyday to change the game. Join us.

Rick Smith
Executive Director
Broadbent Institute

Who we are  – The Broadbent Institute is Canada’s leading progressive, independent organization championing change through the promotion of democracy, equality, and sustainability and the training of a new generation of leaders.
We are proud of Canada’s tradition as a diverse, fair, just, and inclusive society. These values matter to us today and they matter to our future. The vast majority of Canadians share these progressive values.
At the Broadbent Institute, we believe that the progressive principles and collective efforts that have made us who we are as a country can inform new ways of thinking and new approaches to government that equip us to address the challenges facing Canadians

For more on the Broadbent Institute, click on – broadbentinstitute.ca 

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 “A politician thinks of the next election. A leader thinks of the next generation.” – Bernie Sanders

 

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2 responses to “Trudeau Budget Ignores Billions of Dollars in Potential Tax Revenue from Richest Canadians

  1. When will we ever manage to stand up right and elect a government that is NOT TOTALLY, COMPLETELY AND ABSOLUTELY owned – lock, stock and barrel – by the so called ELITES of this Country?
    A young worker for a huge banking firm in “SWITZERLAND” amassed a list of thousands of TAX EVADING Millionaires and Yes Billionaires and passed the list or tapes on to the TREASURY of FRANCE who in turn passed the LIST on to the U.S.of A and CANADA…Well!! The U.S.of A. did something about these EVADERS collecting taxes that amounted to almost a Billion Dollars..CANADA also knew about this and how much did the Conservative Government of Mr. Harper collect? Under the Rug?

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  2. When only two people, David Thomson and Galen Weston Sr., are wealthier than the poorest 30 per cent of the country combined we have a huge social problem. Even more does the disparity prove obscene when we note that the Trudeau budget does little to tax the very rich and adds even more financial burdens on the poorer among us.
    One role of government is to redistribute wealth. Trudeau has been quite skilled at that. Just consider how he took from the rest of us to give more than $375 millions to Bonbardier. in addition to the more than a billion already handed out in corporate welfare to this poorly managed company, the heads of which continue to make huge salaries!
    We still have thousands of tax-evading wealthy members of our Canadian society — many in parliament — while more than 2000 vets go homeless. We owe less to the richest for our freedoms than we do to those who have sacrificed life and limb for our country.
    Seems that Mr. Trudeau — having failed to date to achieve virtually any of his campaign promises — really wasn’t ready! Nor was he committed to his promise to govern differently than did his father. The apple really does not fall far from the tree.

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