Tax unfairness is hurting women
Wealthy business owners are prominent for leveraging tax loopholes to pay as little as possible; meanwhile poor Canadians, most of them women, are being hurt while paying their fair share. This consequence results from the government’s proposal in changing its tax policies, which mainly affect small businesses, and especially women.
Approximately 60 per cent of Canadian minimum wage earners are women, who receive only 74 cent per every dollar men earn. Tax cuts for corporations and large scale tax evasion leaves lower-earning women prone to the pressure of sustaining child care, senior care, social protection, and supports on education and health on their own. Politicians and executives argued that these tax cuts affiliate corporations to reinvest their hard-earned money back into the society. But it is still an unsolved myth: current federal budget is amongst the smallest in 60 years.
The redistribution proposal
A better redistribution model is proposed, as well as being debated, to ensure economic growth is shared amongst tax payers. Firstly, stopping income sprinkling plays a significant role. By discouraging high-earners, who are usually men in the household, to share their earning with their low-or-no-income partners at home, the movement is expected to encourage these people to participate in the labour market. Secondly, tax measures will not affect business owners making less than annual $150,000. With nearly two-thirds of Canadian businesses earning under $73,000 annually, female-owned businesses, which confront considerable revenue gap in comparison to male-owned ones, obtain an obvious advantage to remain competitiveness. And by applying these measures, Canada can be brought back to the UN top list of gender equality index; while bringing an additional of $250 million by halting income sprinkling.
Indication of something more
A caring economy enhances gender equality: women spend less time on child care, seniors are served in much better way, and overall employment and economic growth escalates. The proposal aims not only at covering the tax loophole, but it also represents the Canadian government’s effort to advance gender equality at home and abroad.