Tax ‘extra income’ to assist with COVID-19 restoration, says NDP:
NDP Chief Jagmeet Singh is looking on the federal government to tax the surplus income of corporations which have elevated their wealth in the course of the COVID-19 pandemic.
The NDP help and are pushing for a everlasting Common Fundamental Earnings, as effectively! ❤
Simply to make clear how a 30% tax on extra income would impact, or “discourage” Loblaw’s for instance, taking 30% of 1.6 BILLION extra revenue leaves them with 70% of that revenue of their enterprise and pockets.
70% of 1,600,000,000 remains to be 1,120,000,000. They STILL GET 1.12 BILLION in extra revenue that they wouldn’t have seen with out the panic and misery and necessity this pandemic creates.
They nonetheless get MORE than one billion out of this. It hardly makes a dent in what they obtain, but including 480 million into the tax pool might assist make federal COVID-19 helps extra possible whereas we want it proper now.