Friday, August 17, 2012

Corporations: Invest or Pay Back

Email to the Toronto Star, August 3 2012. Unpublished

In his Opinion Piece, Reid Rusonik raised many significant points (Where bullets won't fly this summer, Aug. 2). I was particularly distressed to learn that corporations which were given tax concessions are merely sitting on the extra income. These corporations now have cash holdings equal to our national debt.

It was these same corporations that once begged and pleaded that lower taxes would motivate them to invest. Canadians are waiting for those investments. This money must be invested or returned to taxpayers for whom such concessions amount to subsidies, that is, corporate welfare. This money can be recouped by a 100 per cent claw back on the amount of the lowered tax. 

In the hands of citizens, this same money would immediately circulate through the economy, resulting in expansion and lower unemployment.

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