Low and middle income earners pay more in income tax while the very wealthy benefit
EDMONTON—On the day before the provincial budget, Public Interest Alberta is releasing figures that show that only the very wealthy benefit from Alberta’s flat tax system.“Albertans who believe the myth that we pay the lowest taxes in Canada will be surprised to see that they are paying more income tax than if they lived in BC or Ontario. At the same time, people in Alberta with very high incomes are paying tens of thousands less in income tax than in other parts of Canada,” said Bill Moore-Kilgannon, Executive Director of Public Interest Alberta.An Albertan with a taxable income of $1 million will pay $41,095 less than if they lived in BC and $75,157 less than if they lived in Ontario. However, an Albertan with a taxable income of $70,000 will pay $1434 more than if they lived in BC and $919 more than if they lived in Ontario.“It is vital that Albertans challenge the Redford government to establish a fair tax system that will allow us to save for our future needs and to move off a reliance on non-renewable resource revenues for core public services,” says Moore-Kilgannon. “The cuts to public services that are likely coming in tomorrow’s budget are going to negatively impact average families, while the wealthiest supporters of the PC and Wildrose parties will laugh all the way to the bank.”“Alberta’s economy is actually one of the strongest in the world, yet somehow the government and corporate elites have convinced us that we need to make cuts in vital areas, like post-secondary education, seniors care and family supports. There are better choices that should be made so that we can invest in the services needed by our growing population. Hopefully Albertans will see through the government’s myths and spin, and stand up for what matters to them and their families.”To see a comparison of Alberta’s flat tax to other provinces’ income taxes, click here
. -30-Bill Moore-Kilgannon will be at the Alberta Legislature for the release of the provincial budget tomorrow. He has accepted an invitation from the Wildrose Party to go into the budget lockup tomorrow, in support of the principle of transparency. Currently, it is the Director of Communications for the Ministry of Finance who decides who gets to see the budget in advance.