Written in response to a comment left at Francesbula.com
Hey rf, long time no hear!
Hmmm…where to begin? There’s a lot in MacDonald’s comment that’s ridiculous. First, let’s just get it out of the way and mention the equation of a political party that supports progressive taxation with Marxism, Maoist, etc, etc. One, it’s inaccurate. Words mean things, and Marxism and Maoism have definitions that the NDP past and present does not even remotely meet (Heck, Marxists don’t even like progressive taxation!). Two, it’s not very useful even as an insult. As each major political party supports progressive taxation, you’ve just labelled everyone…you know…a Marxist. It’s a bit of an own goal. But maybe he’s “exaggerating for effect”?
“[Premier Glen Clark] and his fellow travelers set about to make B.C. their very own socialist utopia, just like Cuba.”
Er…no, seems like he meant it literally! So that’s why we got fast ferries and the Millenium Line! Carbon copies of those in Cuba!
I could be quite wrong about this , but MacDonald’s comment comes off as an out of touch rich person whining to other rich people about the slim possibility they might have to share some of their table scraps with the peasantry. It’s not a message I think that would resonate politically, especially now.
Not to mention when speaking on the economic performance of BC under the NDP he’s completely wrong on the actual facts. Yes, that’s ex-NDP candidate Gabriel Yiu, but he brings the evidence. If you want to dispute with a reasoned supported argument, please do, but please don’t waste my time with airy dismissals. UPDATE: More on this here.
The misconception of the socialists is that someone making $150k (without a pension) is loaded.
They’re not loaded? Wow, that’s unfortunate….as according to the 2006 Census only 6% of the Canadian population earns more than $80k. So people earning $150k+ are fewer still. Canada must be a very impoverished place.
Let’s look at your other example, the “union worker” earning $70k. Only 3% of Canadians earn b/w 70k-79K and 4% earn b/w 60k-69k. Let’s add the 2 groups together to say your hypothetical union worker represents 7% of the population.
You’re two examples come from groups that represent only 13% of Canadians. The top 13%.
About the tax burden. I can’t vouch for the accuracy of this site, but it seems to jive with the Canadian Revenue Agency’s rates so I will use it and be prepared to stand corrected simply because I am terrible with math. So, according to this site our hypothetical $150k earning resident of BC has an after-tax income of $103,582, while our hypothetical $70k earning resident of BC – you seem to have forgotten they pay tax too – has an after-tax income of $55,214. Hmmm.
According to you you need to sock away an extra $35k/yr for your retirement so that leaves our $150k earner with $68.5k left over after-tax. That’s still $13k more than the $70k earner, and they get the free pension! Is it free? Wait…oh right…they have to contribute too. 6.99%/year if, as I suspect you are suggesting, they work for a municipal government. That 6.99% is off the gross if I’m not mistaken, so that’s $4900/yr and now they are down to $50,314. Still…where’s the incentive to work so hard to earn $150k when you can just lie back and earn a free $50k, eh!
Hmmm…I think we’ve forgotten CPP contributions, but I think you get the idea.
Now, does this $35k put aside for our hard up $150k sit under a mattress until age 65? Or…can it be invested…to earn income. A lot of it tax free. Oh right, all that. Next you’ll be telling me it that through the miracle of compound interest your $35k might be a very tidy sum in no time. One could even say it might end up giving them significantly more than $35k/yr. Of course our $70k earner can do the same thing and supplement their post-retirement income. But they get that 40k/yr too! If…according to my calculations…they earn $70k for their entire working career. Which, you know, is often not the case. Also, they contribute to it. Did I mention that?
It’s amazing how the NDP claims some sort of moral majority of working people….yet they’ve never had more than 23% of the federal vote.
Funny, I guess you haven’t read the news lately. I could also point out that the Tories also never seem to rise above 30-35% – this despite ruling like Grits for 5 year. Or put another way 65-70% of Canadians vote for parties to the left of the Tories. I believe you might have mentioned some of those hard-working stiffs.
“I would add the end of the age of oil to the list.”— (Yawn)
For someone complaining about how hard it is to live on $150k, you don’t seem to be worried about gas hitting $1.50/litre, which it’s forecast too very soon. At that price you don’t have to be a hippie to get out of your car and start thinking about another way to get to work. And it’s only going to go up. And up. And up. And this will affect everything. The way we commute. Food and consumer prices. Everything. But let’s stick our head in the sand and ignore the problem.