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Canada's politicians should address unfair tax havens

3 0 2
15.03.2019

Politicians talk about what they want to talk about and not what’s necessarily important and relevant to Canadians. There are taboo subjects that no political party will address. Tax laws that legally allow affluent Canadians to use tax havens to avoid paying tax are highly relevant to all Canadians. They’re also at the top of the list of taboo topics political parties refuse to talk about. Canada’s tax regulations have created a two-tier tax system, one for the rich and one for everyone else. Some have called this economic discrimination.

It’s estimated by some experts that the annual lost government revenue due to the legal use of tax havens by individuals is $5 billion, or $25 billion over five years. These billions could fund numerous elections promises without adding to Canada’s deficit. This $5 billion represents 100,000 new jobs annually, each paying $50,000 – or half a million new jobs over five years. It represents the funding of a national Pharmacare plan and investments in growth industries, and environmental and social programs. This lost revenue would enhance the lives of all........

© Ottawa Citizen