July 13th, 2021
REALITY CHECK: Global Tax Rate, A Liberal Gift to the Rich
The Liberals are celebrating that a global corporate tax rate is just around the corner. But in fact, this is just an entrenchment of the status quo — and once again letting the rich off the hook.
Fighting for greater tax justice is clearly not one of Justin Trudeau’s priorities. As proof, Liberals opposed our proposal to tax the excess profits Canada's large corporations have pocketed during the pandemic.
So while companies raked in millions in excess profits and abused government aid programs and paid rich shareholders millions in dividends, Liberals did noting.
Why aren’t the Liberals getting tough on these companies? History shows, they are in fact the champions of corporations over Canadians.
Between 2000 and 2006, Liberal governments cut the corporate tax rate by 7%.And, in the 2015 election, Justin Trudeau said he wanted to keep the corporate tax rate at 15% with “no plans to change the corporate tax rate."
While Justin Trudeau and his Minister of Finance celebrate their fight for a global tax rate, remember they are celebrating a status quo that has made the rich richer, and left ordinary Canadians behind.
Canadians deserve better.