Time for high income earners to educate themselves
Re: “High Income earners are the victims in Canada”, (Citizen, March 29)
Ms. Milward seems to think that high income earners are deserving of their money because they have “earned it”. Our society has jobs that pay various rates but that doesn’t mean that the 20 per cent-plus of the population that makes less than $20,000 a year have worked any less hard than the 10 per cent that have made over $100,000. Not everyone can be a doctor, lawyer or CEO of a corporation. In fact our society could not function without those that stock shelves, set our appointments or make us a latte.
There are plenty of statistics out there that show that those in the higher tax brackets end up paying less as a percentage of their income in overall taxes due to things such as maxing out CPP payments and per cent of wage that goes to property taxes. High income earners are also able to use tax reduction strategies such as RRSP contributions, which lower earners could only dream of using.
If a high income earner works more than a regular work week that is ultimately their choice. There are plenty of low income workers who are juggling two or more part-time jobs in order to make ends meet. Add on commute times to these jobs and who is putting in more hours?
If one does not feel rewarded by a promotion than one needs to educate themselves that for every dollar they received in a promotion they still take home over 50 per cent. Even the highest tax bracket (over $202,800) rate is 47.7 per cent. There is no such thing as losing it all to taxes or making less than before. If you don’t understand this then see an accountant, learn how tax rates work and be thankful for your promotion!
As to paying for most of it — personal income taxes are just one of several revenue sources that pay for the benefits we Canadians enjoy. Get off your high horse and open your eyes to the realities of your neighbours.