A report by Canadians for Tax Fairness Bay Street and Tax Havens revealed how over 90% of Canada’s largest corporations have subsidiaries in tax havens.
"There hasn't been any prosecution against KPMG for their role promoting this tax dodging scheme."
Ottawa (17 May 2019) In its weekly newsletter, Canadians for Tax Fairness has reported that, according to the Auditor General of Canada, Canadian businesses are at an "unfair disadvantage" because the tax system has not kept pace with the digital economy. While Canadian companies are required to collect and remit sales tax on top of income tax, foreign e-commerce corporations such as Netflix and Facebook are not.
“These tax loopholes overwhelming benefit high incomes earners and the wealthy, allowing them to pay lower rates of tax than ordinary Canadians do on their employment income” — Toby Sanger, executive director of Canadians for Tax Fairness
"The revenue from our taxes goes to paying for the quality public services and programs that, as individuals, most people could never afford on their own. Our public services are a epitome of our commitment to care for each other." — Larry Brown, NUPGE President
These alternatives would bring down the deficit and leave most Ontarians better off than the cuts the Ford government is proposing.
When money gives the wealthiest 1% that kind of power, the rest of us are second-class citizens. Stopping the wealthy from buying their way to the front of the line means reducing income inequality. And a crucial step to reducing income inequality is ensuring large corporations and the wealthy pay their share of taxes.
Many of those objecting to the message that the wealthy should pay their fair share in taxes have been involved in schemes to allow large corporations or the wealthy to avoid taxes.
Alexandria Ocasio-Cortez's proposed top tax rates are also consistent with those recently proposed by one of Canada’s most prominent economists.
The secrecy that accompanies privatization schemes also makes it a lot harder to figure out when there are serious problems.