(=_=)
2015-01-19 22:47:49 UTC
Not that long ago. From post WWII to mid 1960s. After that, rightwing
presidents started cutting that rate. To less than half - as little as 30%.
In the U.S.: Loading Image...
In Canada: Corporate tax rates were 52% in 1972; today they're between
11% and 15%.
Personal tax rates were 70% for the top brackets;
today it's only 39% to 48% for the very rich.
For the average persons, it's now between 48% and 50%.
http://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/PersonalTaxRates/federal-and-provincial-income-tax-rates-and-brackets-and-surtaxes-in-2015.pdf
Income taxes in Canada constitute the majority of the annual revenues of the
Government of Canada, and of the governments of the Provinces of Canada. In the
fiscal year ending 31 March 2009, the federal government collected nearly four
times more revenue from personal income taxes than it did from corporate income
taxes.
________________________________________________
CBC News Posted: Jan 19, 2015
Richest 1% will soon own 50% of all wealth, Oxfam warns
One in 9 people can't afford to eat every day, group says
The richest one per cent of people globally are poised to own more than half of
all wealth by next year, international inequality watchdog Oxfam warns in a
report released today.
The Oxfam was timed to coincide with the start of the upcoming Davos World
Economic Forum, an annual gathering in the Swiss city of influential
policymakers to discuss issues that affect the global economy.
The group's research shows the share of wealth owned by the richest one per
cent has increased from 44 per cent six years ago in 2009 to 48 per cent last
year. And the uneven distribution doesn't just spike at the very end — the top
20 per cent are still doing well for themselves.
1 billion people earn $1.25 a day
The poorest 80 per cent own just 5.5 per cent of the world's wealth. That means
four-fifths of everyone in the world have an average of $3,851 US to their name.
Although people tend to assume the cutoff to be included in the one per cent
would be a gargantuan amount of money, the reality is quite different: the
average wealth of the "one percenters" is $2.7 million.
Oxfam made headlines this time last year with a similar report, which found
that the world's 85 richest people had as much wealth as the poorest 50 per
cent — more than 3.5 billion people. This year, that group was even more
rarified — as few as 80 people now own more than the poorest half of all humans
on earth do combined.
"One in nine people do not have enough to eat and more than a billion people
still live on less than $1.25 a day," Oxfam said in a release.
"Do we really want to live in a world where the one per cent own more than the
rest of us combined?" Winnie Byanyima, Oxfam's executive director, said in a
statement. "The scale of global inequality is quite simply staggering, and
despite the issues shooting up the global agenda, the gap between the richest
and the rest is widening fast."
The group says a few simple policies could help tip the scales back towards a
more equitable solution. They include investing in things like universal health
care and education for everyone, ensuring global standards for child and elder
care, and closing the wage cap between men and women.
The group's paper outlines a few policies that the global community could work
towards to make a real dent in inequality. They include
~ Clamping down on tax dodgers by closing tax-evading loopholes that are
only available to multinational corporations and extremely rich individuals
~ Share the global tax burden more fairly by shifting the onus of taxation
away from consumption and income and on to capital and wealth.
~ Introduce minimum wage standards and work towards a living wage for all
workers.
The report cites a few sectors in particular for being major roadblocks to
inequality, by using their pre-existing power and influence to sway legislation
in their favour.
The health-care and financial services industries spent almost $900 million to
lobby the U.S. government for favourable legislation in 2013, and more than
$200 million was spent on lobbying in the EU, Oxfam said.
"A small number of people are capturing political power, they have the power,"
Oxfam's executive director Julie Delahunty said in an interview with CBC News.
"The amount of lobbying that's done to ensure that they continue to have that
advantage and make that amount of money is part of what the problem is."
============================================================================
Loyalty to the country always. Loyalty to the government when it
deserves it. ~ Mark Twain
============================================================================
presidents started cutting that rate. To less than half - as little as 30%.
In the U.S.: Loading Image...
In Canada: Corporate tax rates were 52% in 1972; today they're between
11% and 15%.
Personal tax rates were 70% for the top brackets;
today it's only 39% to 48% for the very rich.
For the average persons, it's now between 48% and 50%.
http://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/PersonalTaxRates/federal-and-provincial-income-tax-rates-and-brackets-and-surtaxes-in-2015.pdf
Income taxes in Canada constitute the majority of the annual revenues of the
Government of Canada, and of the governments of the Provinces of Canada. In the
fiscal year ending 31 March 2009, the federal government collected nearly four
times more revenue from personal income taxes than it did from corporate income
taxes.
________________________________________________
CBC News Posted: Jan 19, 2015
Richest 1% will soon own 50% of all wealth, Oxfam warns
One in 9 people can't afford to eat every day, group says
The richest one per cent of people globally are poised to own more than half of
all wealth by next year, international inequality watchdog Oxfam warns in a
report released today.
The Oxfam was timed to coincide with the start of the upcoming Davos World
Economic Forum, an annual gathering in the Swiss city of influential
policymakers to discuss issues that affect the global economy.
The group's research shows the share of wealth owned by the richest one per
cent has increased from 44 per cent six years ago in 2009 to 48 per cent last
year. And the uneven distribution doesn't just spike at the very end — the top
20 per cent are still doing well for themselves.
1 billion people earn $1.25 a day
The poorest 80 per cent own just 5.5 per cent of the world's wealth. That means
four-fifths of everyone in the world have an average of $3,851 US to their name.
Although people tend to assume the cutoff to be included in the one per cent
would be a gargantuan amount of money, the reality is quite different: the
average wealth of the "one percenters" is $2.7 million.
Oxfam made headlines this time last year with a similar report, which found
that the world's 85 richest people had as much wealth as the poorest 50 per
cent — more than 3.5 billion people. This year, that group was even more
rarified — as few as 80 people now own more than the poorest half of all humans
on earth do combined.
"One in nine people do not have enough to eat and more than a billion people
still live on less than $1.25 a day," Oxfam said in a release.
"Do we really want to live in a world where the one per cent own more than the
rest of us combined?" Winnie Byanyima, Oxfam's executive director, said in a
statement. "The scale of global inequality is quite simply staggering, and
despite the issues shooting up the global agenda, the gap between the richest
and the rest is widening fast."
The group says a few simple policies could help tip the scales back towards a
more equitable solution. They include investing in things like universal health
care and education for everyone, ensuring global standards for child and elder
care, and closing the wage cap between men and women.
The group's paper outlines a few policies that the global community could work
towards to make a real dent in inequality. They include
~ Clamping down on tax dodgers by closing tax-evading loopholes that are
only available to multinational corporations and extremely rich individuals
~ Share the global tax burden more fairly by shifting the onus of taxation
away from consumption and income and on to capital and wealth.
~ Introduce minimum wage standards and work towards a living wage for all
workers.
The report cites a few sectors in particular for being major roadblocks to
inequality, by using their pre-existing power and influence to sway legislation
in their favour.
The health-care and financial services industries spent almost $900 million to
lobby the U.S. government for favourable legislation in 2013, and more than
$200 million was spent on lobbying in the EU, Oxfam said.
"A small number of people are capturing political power, they have the power,"
Oxfam's executive director Julie Delahunty said in an interview with CBC News.
"The amount of lobbying that's done to ensure that they continue to have that
advantage and make that amount of money is part of what the problem is."
============================================================================
Loyalty to the country always. Loyalty to the government when it
deserves it. ~ Mark Twain
============================================================================