Mr. Speaker, the finance minister has said repeatedly that he will make the taxation system fairer by increasing taxes on the rich. Here is a Canadian tale that contradicts him.
Two students did equally well in high school. One went to work at age 18. He had a good time, attended the rallies of the peace generation and spent all he earned. The other went to university and graduate school, worked during the summer, lived frugally and invested wisely. He held his first full time job as a professional at age 28.
Both men are now 50. The first makes $30,000 and pays 14 per cent of it as income tax. The second makes over $51,000. He belongs to the top 10 per cent of Canadians who pay 50 per cent of all income taxes.
This so-called rich person insists that fairness requires he pay less income taxes, not more as the minister suggests. I agree.