Happy Valentines Day readers!!! Not that you should share your love on this particular day alone, but it should be a reminder to share love everyday of the year. Besides, the restaurants are over-booked and over priced as they respond to the madness.
It seems that last weeks article has caused a bit of a stir, which by the way is absolutely wonderful, so I thank you all for your past comments and I hope to inspire additional debate today. This past week has opened some new doors it seems as a result of my “unconventional” ideas being presented.
Thanks to Sue, a new acquaintance via LinkedIn, I was introduced to the writing of Professor Neil Brooks who has taught tax law and policy at Osgoode Hall Law School for over 35 years and is the Director of the Graduate Program in Taxation. His research interests include tax law and policy, corporate and international tax, and financing the welfare state. He has published extensively on income tax issues and has been the editor of Canadian Taxation, Osgoode Hall Law Journal and the Canadian Tax Journal. In a 2005 paper entitled “The Share of Income Tax Paid by the Rich” , subtitled “The Business Press Gives another Lesson on How to Deceive with Statistics” Professor Brooks writes a very eye-opening and interesting view on progressive taxation and how that impacts both rich and not so rich taxpayers. This is a read worthy of your time, especially if you have an interest in this type of thing, and I would love to delve into and comment on many of the points Professor Brooks makes in his article, however, space in this column is very limited. Perhaps, if there is enough reader commentary, you could coax me into writing more on this paper after the
RSP season comes to an end.
This new information of course leads my curiosity in another new direction and I come across a book written by Linda McQuaig and Professor Brooks titled “The Problem with Billionaires” . In a book review by Earnest and Jest, March 2011, they state that “McQuaig and Brooks bring the best in hard statistics together with convincing ethical analysis to show not only that countries which place greater financial constraints on their upper class tend to
have generally better quality of life, but also that the upper class really has no good ethical reason to demand that they be able to hang onto their wealth at the expense of society at large.” WoW, this is very interesting and I am going to read this book too!
My one question for all of this, is simply “Why has nothing been done about it?” Canadian tax payers need to know!!!
Copyright 2013 Richard M. Kiernicki. All Rights Reserved.
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