If anyone doubts that the wealthy can afford to pay their share in income tax, consider these numbers. According to this year’s Canada’s Private School Guide, it costs up to $72,000 per year to send one child to a private school. The median income in Canada is $31,900.
A wealthy family with two kids that chooses to send their kids to private schools is paying up to $144,000 a year. That’s 4.5 times as much as most Canadians earn.
Obviously, people paying 4.5 times what most Canadians earn can afford to pay more in taxes. And if they do, we all, including those paying more in taxes, are better off.
Who benefits when people pay taxes: we all do!
When the wealthy and large corporations pay their share in taxes, public services are adequately funded. That means public schools are then better able to provide a high quality education for all children, regardless of how much their parents earn.
But it’s not just the wealthy parents who no longer need to pay expensive private school fees who will benefit from tax fairness.
When people from diverse backgrounds are all using public services like schools, it helps bring communities together. It reminds people how important it is that no one be allowed to fall through the cracks.
That’s how we build stronger communities. And it’s how we build a stronger country.