CPAC proposes alternative budget
The Canadian Centre for Policy Alternatives released their alternativebudget yesterday and are hoping the new NDP government will breaktradition and adopt some of their proposals.
The Canadian Centre for Policy Alternatives released their alternative budget yesterday and are hoping the new NDP government will break tradition and adopt some of their proposals.
The CPAC budget focuses on progressive new taxes in order to correct what they see as a regressive tax trend.
While Nova Scotia’s GDP has grown 63 per cent in the last 25 years, CPAC’s numbers say only the top 40 per cent of families benefited with the top 10 per cent prospering.
“The benefit of the booming economies has not gone to average Nova Scotians,” said SMU management professor Larry Haiven, one of the budget presenters.
“So where has the money gone? It’s mostly gone to holders of capital and the richest 10 per cent of families in Nova Scotia. They’ve made out really, really well and in addition their taxes have come down.”
CPAC strongly opposes a two per cent sales tax hike, saying that would disproportionately affect the lower class.
It instead proposes a graduated income tax increase that would spare the bottom 40 per cent of earners and ramp up to nine per cent for the most wealthy.
“Politicians like to tell us we all have to tighten our belts. What we’re saying is low income people have never had their belts loose,” said retired Dal prof Michael Bradfield.