Friday, March 23, 2012

MDs propose tax increases for wealthiest Canadians, starting at $100,000

TORONTO - A group of doctors is calling on federal and provincial governments to raise income taxes levied on high-income Canadians.  They are launching a campaign to get support for the idea, using the slogan "Tax us. Canada's worth it." Doctors for Fair Taxation are proposing new surtaxes that would tax any income over $100,000. People who earn between $100,000 and $170,000 would pay an extra one per cent on the income between those two figures and income between $170,000 and $640,000 would be subject to an extra two per cent levy. Income over $640,000 and less than $1.85 million would be hit with an additional three per cent and income over $1.85 million would be subject to an additional surtax of six per cent. The group estimates that the federal government would earn an extra $3.5 billion a year and Ontario would raise an extra $1.7 billion. One of the organizers of the campaign, Dr. Michael Rachlis, says more than 50 doctors have signed the petition so far. A website hosting the petition will go live Thursday afternoon.

Though the campaign has been started by doctors, anyone earning over $100,000 who supports the proposal can sign the petition.
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