Posted by NationBuilder Support · February 04, 2014 4:19 AM
OTTAWA—As the Conservative government prepares to introduce a Mad Men-style tax giveaway after the federal budget is balanced, the Broadbent Institute today launched an information campaign against the proposed $3 billion handout for Canada’s wealthiest families.
"It’s absurd that the Conservatives plan to take a $3 billion surplus and spend it on a tax giveaway to high-income families — it’s as though the government is trying to recreate a society straight out of an episode of Mad Men," said Executive Director Rick Smith. "Today we are taking the first step in speaking out against the proposed Conservative family income splitting plan that will exacerbate inequality in Canada."
Under the Conservative plan, a two-parent family with children under 18 will be allowed to split up to $50,000 of their income for tax purposes.
"An analysis of the plan shows 86% of Canadians, including single mothers and low-income parents in the lowest tax bracket, will receive no benefit whatsoever from the scheme," added Smith. "And the top 5% of families would see more benefit than the bottom 60% of families."
As part of the campaign, the Broadbent Institute is launching a contest asking Canadians how they would invest the money lost to income splitting. "The Broadbent Institute will be making it a priority over the months ahead to draw attention to income inequality and the terrible ways income splitting threatens to make this problem much worse," said Smith.