Playing With Numbers

It's hard to believe the media is still talking about CEO pay and the top 1% of our income earners having too much money, and about how government should bring in regulations to control their cash. I thought this topic had been put to rest. In light of the fact that the top 1% (270,000), according to the 2011 National Housing Survey, make an average of $380,000, it's interesting to note, like any average, that it can be skewed by having a few extremely well paid earners. For instance, if you take out the top 0.1% from the 1%, the average drops to $167,000 for 267,000 of these earners. This is hardly the mega rich that the 1% are being made out to be by media and opposition parties. In fact, there is only a few income earners earning big money.

It appears that Canadian high income earners are being tarred with the same brush as American high earners. In the US, the richest 1% of Americans took home 24% of the national income in 2010 and it's climbing. In Canada, the income of the 1% peaked at 12%, declining to 10.6% in 2011 during PM Harper's tenure. In fact, Kevin Milligan, an associate professor of economics at the University of British Columbia says Canada is actually bucking the trend toward a widening income gap between rich and poor. You would think this was good news for Liberals and even better news that the top 10% paid over 50% of the Federal tax bill, which is clearly a redistribution of the wealth and something the Liberals dream about.

It's baffling as to why Canadians fall for this trickery put forward by the left, especially when Trudeau and gang all make $163,700, plus expenses, annually. That's the base salary for a member of Parliament. Trudeau gets an extra $73,000 as an opposition leader which clearly put’s him in the 1%. I don't care what our MP's make. In fact, I think they deserve every penny, considering it could be a very short carrer. But what I do have a problem with is Trudeau and his party complaining about the earnings of the CEOs and the 1% when they happily fit into the 1% club themselves. If they really feel that the 1% should divvy up more cash in taxes, they should step up to the plate and show Canadians an example. Of course, that would only happen when pigs fly.

In addition to the top 10% paying 50% of the federal tax bill, they also pay approximately the same for the provincial tax bills, plus municipal taxes paid.

The bulk of the folks in the 1% are more likely just successful people and some who got lucky. Frankly, the top .01% earners (CEOs, self-employed, etc.) who make the mega bucks, are only a few hundred of the total earners. Even if they make several million dollars a year, in today's dollars it isn't that much. Taxing them more isn't going to make a difference. The Liberals are just playing with numbers on this issue to confuse voters.

I guess Justin figured it worked for Obama, so why not try it out in 2015.

It's hard to believe the media is still talking about CEO pay and the top 1% of our income earners having too much money, and about how government should bring in regulations to control their cash. I thought this topic had been put to rest. In light of the fact that the top 1% (270,000), according to the 2011 National Housing Survey, make an average of $380,000, it's interesting to note, like any average, that it can be skewed by having a few extremely well paid earners. For instance, if you take out the top 0.1% from the 1%, the average drops to $167,000 for 267,000 of these earners. This is hardly the mega rich that the 1% are being made out to be by media and opposition parties. In fact, there is only a few income earners earning big money.

It appears that Canadian high income earners are being tarred with the same brush as American high earners. In the US, the richest 1% of Americans took home 24% of the national income in 2010 and it's climbing. In Canada, the income of the 1% peaked at 12%, declining to 10.6% in 2011 during PM Harper's tenure. In fact, Kevin Milligan, an associate professor of economics at the University of British Columbia says Canada is actually bucking the trend toward a widening income gap between rich and poor. You would think this was good news for Liberals and even better news that the top 10% paid over 50% of the Federal tax bill, which is clearly a redistribution of the wealth and something the Liberals dream about.

It's baffling as to why Canadians fall for this trickery put forward by the left, especially when Trudeau and gang all make $163,700, plus expenses, annually. That's the base salary for a member of Parliament. Trudeau gets an extra $73,000 as an opposition leader which clearly put’s him in the 1%. I don't care what our MP's make. In fact, I think they deserve every penny, considering it could be a very short carrer. But what I do have a problem with is Trudeau and his party complaining about the earnings of the CEOs and the 1% when they happily fit into the 1% club themselves. If they really feel that the 1% should divvy up more cash in taxes, they should step up to the plate and show Canadians an example. Of course, that would only happen when pigs fly.

In addition to the top 10% paying 50% of the federal tax bill, they also pay approximately the same for the provincial tax bills, plus municipal taxes paid.

The bulk of the folks in the 1% are more likely just successful people and some who got lucky. Frankly, the top .01% earners (CEOs, self-employed, etc.) who make the mega bucks, are only a few hundred of the total earners. Even if they make several million dollars a year, in today's dollars it isn't that much. Taxing them more isn't going to make a difference. The Liberals are just playing with numbers on this issue to confuse voters.

I guess Justin figured it worked for Obama, so why not try it out in 2015.