| A better Tax Structure from before while Creating Canadian Industry.
Canadians should return to the golden era of the Highest Marginal Tax. We need to reinstate the Highest Marginal Tax at the levels seen in 1970. The removal of the Highest Marginal Tax stands as the largest taxation fraud in the history of Canada.
A Taxation Structure For Canadian Better Times
It has long been stated, and remains true today, that the establishment of new businesses requires substantial financial backing. However, the issue lies in the fact that the affluent are no longer fostering industries that provide fair wages to their employees. While corporate profits continue to rise, wages are on the decline. This troubling situation stems from the Canadian government eliminating the highest marginal tax bracket, resulting in billionaires paying the same tax rates as the average Canadian.
The Canadian Government's current tax structure has fostered corporate hoarding of funds, often at the expense of ordinary Canadians. We should promote a better standard of living rather than diminish it, by realigning our focus on Canadian priorities.
The government's assertion that they are safeguarding the middle class remains undefined. What exactly constitutes the Canadian middle class? What are the wages associated with this group? Here we find ourselves on the brink, while the government insists it has shielded the middle class.
Bringing Back The Highest Marginal Tax
When the Government of Canada offers tax breaks to the average worker, it is actually the wealthy elite who reap the benefits. In the 1970s, Canadian politicians abolished the highest marginal tax rate, effectively allowing billionaires to pay the same tax rate as those with far less income. There is no specific tax relief aimed at the middle class; instead, the focus has shifted to reducing taxes for the ultra-rich. By reinstating the highest marginal tax rate, Canada can redirect its tax system to support those who truly need it. The concept of Marxism highlights the division of wealth into the affluent and the impoverished, and this division is currently taking place.
Investment Export Tax
Maintaining a fair tax contribution to Canada from the wealth created within its borders is an essential aspect of Canadian identity.
Canadians require an Investment Export Tax. Those Canadians residing overseas should anticipate a 25% Investment Export Tax on funds withdrawn from Canada.
Moreover, there is an opportunity to establish Investment Export Tax credits for companies that deliver substantial advantages to the Canadian economy.
Resource Export Tax
The most lucrative resource export properties in Canada are dominated by a select few. Increased taxation would be imposed on highly profitable resource properties that generate substantial revenue.
Venture Capital Corporations
Once the government reinstates the highest marginal tax bracket, Federally controlled Venture Capital Corporations established by the government can provide a way for individuals in the highest tax bracket to reinvest in Canada and receive a venture capital tax break equivalent to their investment amount. This approach not only reduces the tax burden on high earners to current levels but also promotes increased investment.
Modify Tax Treaties or Scrap Them Entirely.
Tax treaties were established in Canada to prevent Canadians from being taxed twice. If an individual resides in a different country, they would pay taxes there instead of in Canada. The tax treaties with other nations need to be revised or eliminated. Canadians earning above the highest marginal tax rate must pay Canadian taxes, regardless of which country they reside in.
Majority Ownership of Canada's Business to be Canadian Controlled.
It is essential for Canadians to regain majority ownership of Canadian businesses. Foreign companies can seek exemptions based on the net benefits they provide to Canadians. Canada can draw foreign industries by providing incentives and exemptions, while ensuring that ownership of our industries remains with Canadians.
Government Industry Protection Legislation.
Businesses with substantial operations in Canada must not shut down without just cause. Legislation aimed at protecting industries will serve as a thorough legal framework, ensuring that those who choose to close their businesses or relocate to another country adhere to specific guidelines. Canada is committed to safeguarding and reinvesting in its citizens through successful enterprises, thereby guaranteeing freedom and liberty for everyone. |
