This is an archive of news stories and research from the National Union of Public and General Employees. Please see our new site - https://nupge.ca - for the most current information.
"Our work has told us that income inequality is only made worse through tax loopholes like the one for stock options. Canadians are fed up with the government line of "there's not enough money." They know that the wealthy and corporations are still benefiting from a tax system structured to maintain their wealth." — Larry Brown, NUPGE President
Ottawa (13 Jan. 2017) — Canadians for Tax Fairness (CTF) is calling on Canadians to help remind Prime Minister Trudeau of another promise he made during the election campaign. Trudeau took the opportunity many times to tell people that he would create more tax fairness by closing stock option tax loopholes
Why are taxpayers subsidizing million dollar salaries?
As the CTF reports, Canadians are incredulous at the fact that total compensation for Canada’s highest-paid 100 CEOs’ hit a new high of an average of $9.5 million or 193 times more than someone earning an average wage. This report was published by the Canadian Centre for Policy Alternatives.
Even more maddening, CTF says, is the news that taxpayers are subsidizing those billion dollar salaries, because Prime Minister Trudeau has failed to axe the stock option loophole that taxes only half the income from stock options. And now it has learned that the Prime Minister broke that election promise after some powerful corporate lobbying last year, just before the federal budget was tabled.
Tax loopholes drain much-needed revenue for Canada
The National Union of Public and General Employees (NUPGE) has been a strong proponent of tax fairness. "We agree with our friends at CTF that the Prime Minister needs a reminder of this very important promise," said Larry Brown, NUPGE President. "Our work has told us that income inequality is only made worse through tax loopholes like the one for stock options. Canadians are fed up with the government line of "there's not enough money." They know that the wealthy and corporations are still benefiting from a tax system structured to maintain their wealth."
"I'd like to see all of our 370,000 members send Trudeau a reminder of his promise. With the revenue we're missing because of these tax loopholes, we could create a pharmacare program or have a national system of child care. These are doable things if Trudeau keeps his promise," Brown said.
Remind Trudeau to fulfill his promise to close stock option loophole
Remind Trudeau that ordinary Canadian taxpayers are paying attention. Tell him to keep his promise to make taxes fairer.
To send a message, go to the website of the Canadians for Tax Fairness and fill out your information. CTF has provided a generic letter to send, but you can add your own voice to it, too.
Let's make sure that the Liberal government makes this change in the upcoming budget. For all of our sakes.
NUPGE
The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 370,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE