Taxing the Topp Earners

Brian Topp reaches out to steal someone's wallet. Image via Topp's Flickr.

Yes, I made a Brian Topp pun.

This week, the Commie-Pinko candidate announced his new plan to redistribute the wealth and punish rich people. His press release of Communism details his quest to destroy Canada (in three parts!)

A new federal income tax bracket of 35% on income in excess of $250,000

A new and better approach to taxes on capital gains and stock options

A phase out of Stephen Harper’s spending on tax cuts for profitable corporations

This plan is completely insane. Brother Topp may say that he wants ‘fairness,’ ‘balance,’ and ‘equality’ – but what he really wants is to take marginally more from people who can afford it and use it to pay for things.

Unacceptable.

Everyone knows that the best way to cover the federal government’s spending is to cut taxes. Cutting taxes means more revenue. Or maybe it doesn’t. That’s irrelevant.

The point is that taxing people doesn’t actually mean revenue for the government. It leads to Marxism or something.

Anyway, the plan is dumb.

As Kelly McParland put it very eloquently last month in the National Post, Topp is really just out to hurt average working class folks,

Topp may feel he’s safe in supporting higher income taxes only on the “wealthy.” Except in Canada you don’t have to be very rich to be classified as “wealthy.” The annual “sunshine” lists put out by various governments are stuffed with everyday working stiffs making good money. The Toronto Police Services section of the 2011 list has 69 people making over $100,000, and that’s just the names starting with ‘A’.  A subway ticket-taker can get on the list with a bit of overtime.

Ignoring the fact that if Toronto transit employees are making a hundred grand, they’re probably running a grow op on the side, Brian Topp really just hates working people.

Finance minister Jim Flaherty also threw in his two cents (which would only be one cent, under Comrade Topp’s tax plan)

“It’s just one of those dreamy ideas that people think about that don’t make any sense,” Flaherty said at a news conference in Ottawa, adding that he felt Canada’s tax system was already progressive.

“If anyone thinks in the United States, Canada and Europe you can tax the 1% or 0.5% and raise a lot of money, it’s nonsense. It doesn’t produce the volume of revenue you need in order to run a country.”

Yeah! Governments shouldn’t try to do things if they only raise a little bit of revenue.

Or as Mike Moffatt put it on Twitter,

Is there any reason why we should raise taxes on people earning 250K, but *not* on people earning 132K-250K? There may be, but what?

Yes, because there’s nothing at all arbitrary about our current tax system. Everything is formulated by tax monkeys.

I think all know that the Taxman can’t. We should be very leery of people who try to balance the budget by increasing revenue in a moderate way. Next thing you know, Brian Topp will set up an Occupy camp in the House of Commons.

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Categories: NDP Leadership Race

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