The debate on taxing the rich is here to stay
One thing is for sure, the Tax the Rich debate is here to stay and our ability to invest in our future depends on its outcome.
One thing is for sure, the Tax the Rich debate is here to stay and our ability to invest in our future depends on its outcome.
We can hardly tackle obscene and rising levels of economic inequality if we are not prepared to see a sustained rise in wages at the expense of the capital share of national income, and a sustained period of wages growing at least in line with growing productivity.
Analysis suggests that capital has become far too strong to sustain a robust economy and that an increase in labour bargaining power should be welcomed rather than resisted.
Canada needs to look beyond the immediate crisis to identify the key building blocks of a new economy on a sector by sector basis.
Canada’s corporate bailouts need to cut out tax dodgers and profiteers, and show long-term commitments are attached to the money.
Now that we are collectively facing a health risk that is spreading across space, we’ve been given the opportunity for empathy with many people who individually confront risks that repeat over and over again during the course of their lives.
There should be no fiscal restraints on the needed response to the pandemic crisis, and we need to also ensure that we avoid another round of austerity when the economy recovers.
The sooner affected workers can make the financial decision to stay home from work, the more effective public health measures will be in slowing the spread of COVID-19.
Falling effective rates of tax on corporate profits have greatly undercut government revenues, with no overall economic gain.