A PROPOSAL FOR HIGHER TAXES ON THE WEALTHY
Proposed by Matt Fodor, Toronto
Date: 26/06/2011
For consideration for inclusion in the platform at the pre-election Policy Assembly
WHEREAS the increase in incomes of the top 1% of income earners has been the main force driving income inequality in Canada and other advanced capitalist countries;
THEREFORE BE IT RESOLVED that the Socialist Party of Ontario strongly supports increases on the very highest income earners and the creation of new tax brackets. The Socialist Party of Ontario will ensure that the combined federal/provincial income tax rate for incomes between $250,000 and $500,000 shall be 60%, for incomes between $500,000 and $1 million shall be 70%, and for incomes over $1 million shall be 90%;
and WHEREAS income from capital (such as dividends and capital gains) is taxed more lightly than income from wages and salaries;
BE IT THEREFORE BE RESOLVED that the Socialist Party of Ontario supports taxing income from capital at the same rate as wages and salaries, and will raise the provincial portion of taxes on capital to match the combined federal/provincial rates on wages and salaries.
If you have any proposals to be voted on by the membership for inclusion in the platform of the SPO, please email them to socialistpartyofontario@hotmail.ca
