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Making Waves

$15 Billion Of Our Tax Money Is Alive & Well And Living In Paradise

David

By David McLaren

Six people own more of the world's wealth that the poorer half of the world's population. A year ago it was 62. Now it's six. Meanwhile, over half of us in Canada are living paycheque to paycheque, always about $200 away from broke.

 

That's the thing about wealth – it's like oil; it's a finite resource. If the CEOs of big corporations raise their pay by 400% (and they have), that wealth has to come from someone – usually you and I. If Ontario's College Presidents want a 50% raise (and they do), one way to pay for that is to cut back on hiring full time teachers ... hence the strike ... hence 500,000 angry students. The wealth that Sears employees will lose come Christmas will go into the pockets of Sears execs and the company's creditors.

 

So when the rich and big business stash their cash in off-shore tax havens (and they do – big time) that's money out of our pockets. That's money that could have been used to grow a business instead of bankrupt it.

 

Canadians have over $170 billion in off-shore accounts. World-wide the number is a staggering $20 trillion – yes that's trillion with a capital T. If taxed, that's money that could be used to rebuild our aging bridges and railways, and provide universal daycare, and keep our health care system up to snuff.

 

Their only defence is that it's not against the law. Well, it oughta be. Over to you Mr Trudeau and Mr Morneau ... yeah, right, as if those guys will do anything about it.


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