Taxation just accentuates wealth gap

One should bear in mind that over 50 per cent of any salary is paid in income taxes.

In your article decrying the disparity in wealth amongst ordinary Canadians and highly paid CEOs one should bear in mind that over 50 per cent of any salary is paid in income taxes. And also that much of a CEOs theoretical pay packet may not be realized as it is comprised of stock options that may or may not come to fruition.

Having said that, you raise real issues of the gaps in wealth between the top and bottom or middle.

I don’t know what the solution is but I would suggest that the solution we currently embrace of higher taxes and more government spending is actually perversely designed to accentuate the problem.

The level of taxation on middle income Canadians is so high that it is very difficult for ordinary income earners to build any wealth and retirement is an increasingly remote option for most — other than our true upper classes composed of the aforesaid CEOs, together with those benefiting from government gold plated pensions schemes.

 

Mike Holmes

Cowichan Bay