Wednesday, September 25, 2019

Liberals Still Catering to 'Morneau-Class' Canadians

Unless you're very, very rich this isn't about you. It's about the HPPs, 'higher purpose persons,' Canadians at the top 1% of the income scale. It's about those who gross just shy of half a mill per year. Morneau-class Canadians.
The incomes of Canada’s top one per cent grew at a faster pace than everyone else in 2017 – and, overall, they saw their taxes edge down, says a new study. 
Statistics Canada has found that in 2017 the average total income of all tax-filers rose 2.5 per cent to $48,400 compared to the previous year. 
The average income growth of the bottom half of tax filers increased 2.4 per cent to $17,200. 
But those in the top one per cent saw average income growth that year of 8.5 per cent to $477,700. 
And biggest surge in income growth was seen by those who made even more money. 
Tax filers in Canada’s top 0.1 per cent, who made at least $740,300 in 2017, took home 17.2 per cent more income than in 2016. People in the top 0.01 per cent, who made $2.7 million or more, saw their incomes rise 27.2 per cent – making for the fourth-biggest annual increase in the last 35 years.
But what about the other end? Oh.
The overall effective tax rate, however, for those in the top one per cent declined to 30.9 per cent in 2017, down from 31.3 per cent the year before, the study says.
I know, I know. A drop from 31.3 to 30.9 sounds like peanuts but when you're in the top one per cent, every extra penny helps.


Anonymous said...

Libs, Tory the same story. Parties of, or rather for the rich.
This is the very reason for not doing electoral reforms.
Hapless populace has no real choice.

the salamander said...

.. anonymous has a point re 'hapless populace' ..

We must find a way to empower the populace
get elected and unelected 'public servants' doing our bidding
or fire them via snap town hall plebiscites riding to riding

Going to take some doing.. some cleansing, disinfecting

The Mound of Sound said...

There is a way, Sal. Trudeau promised last time he'd see to it. Then he screwed every Canadian. We have a broken democracy and there isn't a Conservative or a Liberal who would have it any other way.

Trailblazer said...

Perhaps! one day the debate or conflict will be between those that believe in Anthotologic climate change and those that do not.
Perhaps the battle fought on the plains of Armageddon will be between the deniers and the greedy bastards club?