I made this nifty chart. I love charts. #infoporn
You can see that Canada really doesn’t have that far to go. We’re no Denmark but we’re also a far cry from the inequality of the USA. This is because Canada’s government protects it’s citizens… mostly. A healthy middle class depends on lots of things; a solid education system, strong unions, and constant re-investment into the country from the government into public works and infrastructure. Canada has most of these things. Our unions have been under attack by international investor’s rights deals such as NAFTA for the past 30 years. Credit must be given to the government of Canada in not allowing these deals to bring us down too much. Reeducation (second career) programs, universal healthcare, and unemployment insurance are definitely major weapons in our investor’s rights deal survival chest.
You know the expression, “Shit rolls downhill”? Well, it’s true. Have you ever heard the expression, “Money rolls downhill”? No? That’s because it’s a bunch of bull—-! Here is my proposal; throw out the myth of “Trickle Down Economics”. You see where the top quintile is poking out above my goal? That is the failure of trickle down economics.
Lets put this in the context of shelter. This is obviously exaggerated for effect. Everyone falls into one of the following categories:
- You are homeless. You can’t find a job but just staying alive is work enough. Every dollar you get goes immediately back into the economy for someone with a higher income than you to scoop up.
- You rent. You work your butt off and a good chunk of the money you make immediately becomes someone else’s income when you pay them rent.
- You have a mortgage on a home. Good for you! You’ll be working it off the rest of your life and the bank will get a huge chunk of cash for taking absolutely no risk.
- You have paid off your home. Well done you! Now you can continuing working to keep giving the bank your money but now it’s for retirement!
- You bought your home outright. All the money in our system filters up to you with very little effort. This is the point at which money is making money.
I propose that we as a people should never be comfortable with wealth while one person sits on a street corner, feels hunger pain, or is without adequate clothing. I believe it is the government’s duty to redistribute the wealth from the highest to the lowest. Not only is this the right thing to do but the money will make its way back to the top anyway.
There are some easy fixes out there that won’t harm hardly anyone but the top 10%. Tax dividend income, capital gains, and the selling of stocks as income.
- You make $50,000 per year income and you’re taxed about 27%.
- You’re paid $50,000 through stock dividends. That’s taxed lower than income… wait, what?
- You sell a second property and make a $50,000 capital gain.That’s taxed lower than income… wait, what?
- You sell $50,000 in stock holdings. That’s taxed lower than income… wait, what?
This is what’s called corruption. I have a theory; the more complicated the tax code the more corrupted the government has been over time. I also don’t believe that any government should run a deficit… ever. Raise taxes and balance it off.
I can hear people freaking out already! If my ideas were covered on Fox or CNN it would be, “Class Warfare!” or, “He’s a communist!” but as you can see by my nifty wealth distribution chart… I’m not a communist. People who work hard should get more. The only things to consider are, 1) what constitutes work? and, 2) how much more should those ‘hard workers’ get?