A step forward on tax fairness

Toronto, April 23, 2012

A step forward on tax fairness

 Statement by Doctors for Fair Taxation

Doctors for Fair Taxation is pleased the New Democratic Party and Liberal Party are acknowledging today that tax fairness should be part of the 2012 Ontario Budget. However, a short term surtax that is exclusively devoted to reducing the deficit does not address income inequality right now.  An agreement appears to have been reached between the two parties that will direct all revenue from a two percent “surtax” for Ontarians making more than $500,000 per year towards deficit reduction. That surtax will expire once the deficit has been eliminated. While the parties also agree to a one percent increase in welfare payments, this is still less than the rate of inflation.

There is wide popular support for a return to more progressive taxation. Strong evidence demonstrates that 20 years of substantial tax cuts have disproportionally benefitted wealthy citizens and corporations while contributing to growing income inequality. In this context, the agreement for a surtax is exceptionally modest but further heightens the need for a much broader conversation on taxes in this province and this country.

We therefore reiterate our call for Ontario’s Standing Committee on Finance and Economic Affairs to investigate options for fair revenue generation – including increasing corporate tax rates – and bring forward proposals in time for the 2013 Ontario budget.

Other jurisdictions have proven that fair taxation goes along with economic prosperity and social justice. Our message to all provincial parties remains clear: Tax us! Ontario is worth it.

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 About us

We are a group of doctors who believe unfair taxation has contributed to growing income inequality in Canada. We are working in collaboration with other groups and Canadians to shift the public discourse on taxes, encourage governments to adopt reasonable tax increases on their wealthiest citizens and to seriously study new revenue tools to help address income inequality. For more information please visit:

www.doctorsforfairtaxation.ca

For more information or to arrange an interview please contact:

Christopher Holcroft
Principal

Empower Consulting
416-996-0767
Chris_Holcroft@yahoo.com