Letter: Taxing the rich won’t make them pay


I see it is the silly season again, with politicians in Ottawa promising pharmacare and low-cost housing ­— the rich will pay. No they won’t.

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First, there aren’t enough rich to pay for everything. Second, the rich are mobile.

Remember Francois Hollande? He was going to introduce a 75 per cent income tax on the rich. The rich promptly moved to London, the tax disappeared and so did Hollande.

When Martin O’Malley was governor of Maryland, he increased the state income tax on millionaires. The next year, state tax revenue actually declined. A lot of millionaires had moved to Florida, which has no state income tax.

The next time you buy gasoline, look at the price we pay in B.C. compared to Alberta.

You will know who pays. It’s you.

Pat Kavanagh

© Kamloops This Week


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