Mr. Speaker, by the time our country's top CEOs are sipping their morning lattes on New Year's Day, they have already earned more than the average Canadian worker makes in an entire year.
To add insult to injury, companies can write-off those stratospheric salaries against their business taxes. That means average Canadians who work hard, who play by the rules but are nonetheless struggling to make ends meet, are actually subsidizing the salaries of the wealthiest CEOs.
Will the Prime Minister close this outrageous tax loophole and amend the Income Tax Act so that salaries in excess of $1 million can no longer be deducted from business taxes?