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More than Canada’s tax system needs an overhaul — start with senior management


Frank Stronach makes some valid points and good suggestions. It is true that governments have nothing to spend that they haven’t already taken from citizens; it is also true that wealth must be created before it can be distributed.

As a business owner myself, I can see advantages to virtually all of the ideas posed in his column, including corporate profit-sharing. Unfortunately, until we have a government that isn’t obsessed with its own brand of socialism, we won’t see anything but more of the behaviour that helped get us here in the first place. The feds’ refusal to acknowledge a single failing, even when the Ethics Commissioner points them out, is proof enough of that.

So, while streamlining the tax system would very likely result in new and necessary tax revenue for governments, with zero controls over how it’s spent and absolutely no meaningful accountability for mismanagement, could Canadians really expect to benefit? I know I wouldn’t trust the likes of Justin Trudeau and/or Jagmeet Singh to decide the measures defining “large” financial institutions or corporations. And what government as self-interested as this one would even consider reducing its bureaucracy by any percentage, let alone five per cent per year? It’s a great idea, but ballooning the public payroll was responsible for over 86 per cent of the “new” jobs the Liberals claimed credit for between February 2020 and July 2022.

There is much more that needs reforming than just our tax system, and it starts with removing the senior management.

Source : National Post