The Canadian political scene have gotten more interesting recently.
The first notable change is it is apparently possible that the NDP may be able to break the decades long conservative hold on the province of Alberta. Im thinking that the world wide slide in oil prices (and the shit kicking that has caused on that provinces biggest industry) has a lot to do with that.
Frankly, good. Such a situation affects many, but that is what happens when you throw all your economic eggs into one volatile basket. Either way, we will see by tonight how that turns out.
But the most recent news to make the Canadian political landscape a whole lot more interesting, came from the Liberal party today. Justin Trudeau has openly declared that he is running on a platform of cutting taxes on the middle and lower classes, and raising taxes on the highest earners in the nation, Canada’s 1%. In truth, apparently they number to a little less then 1%, but the result is the same.
The current tax rate of 22-per-cent for those with taxable annual income totaling between $44,701 and $89,401, would be cut to 20.5 per cent. A new tax bracket of 33 per cent would apply to those with taxable incomes over $200,000 a year. The current top bracket of 29 per cent would continue to apply to those earning between $138,586 and $200,000.
Along with this, there will be restructuring of the current system of child tax benefits. All families with children under the age of 18 with an annual income of below $150,000 (or 90 per cent of Canadian families) would receive more then they currently receive. This is in direct contrast to the current Harper scheme of parental income splitting, which many say only benefits maybe 15% (likely less) of families in Canada. And most of those fall into the higher taxation brackets.
It is certainly an ambitious plan. But considering that economic inequality is in worse shape in Canada then even in the US, this is also a good counter measure.
In fact, the Democratic Party should take a note from this play book. Do not alienate your progressive heavy weights like Bernie Sanders and Elizabeth Warren. SHOWCASE THEM!
We will see what interesting things come along for this upcoming election cycle. If the Liberals under the leadership of Justin Trudeau keep taking very ballsy stances on topics of importance to most Canadians (such as their economic well being and the legalization of marijuana) they will become a force to be reckoned with.
Even with the soon to start bombardment of anti-liberal tax payer funded propaganda from the Conservative party. My recycling bin awaits.