Topp Proposes Plan to Restore Balance to Canada's Tax System

NDP LEADERSHIP CANDIDATE SAYS WEALTHY CANADIANS SHOULD CONTRIBUTE MORE TO PROMOTE EQUALITY AND PROSPERITY

TORONTO, Nov. 28, 2011 /CNW/ - NDP leadership candidate Brian Topp today released a detailed plan to reduce income inequality by restoring balance to Canada's tax system.

"Growing inequality is the central economic and moral issue of our time," said Topp. "I believe the NDP must show leadership on this issue. My plan says its time for those at the top to pay more so that Canada can make the important investments that will promote equality and long-term prosperity."

In a paper released today entitled "Bringing Balance and Fairness to Canada's Tax System",Topp argues that successive Liberal and Conservative governments have fostered levels of income inequality not seen since the 1920's by gearing the tax system to wealthy Canadians.

Topp makes three specific proposals to address this growing income inequality:

1. A new federal income tax bracket of 35% on incomes in excess of $250,000.

2. A new and better approach to taxes on capital gains and stock options.

3. A phase out of Stephen Harper's spending on tax cuts for profitable corporations.

For more information about each of these proposals please visit www.briantopp.ca to read the Restoring Balance to Canada's Tax System.

SOURCE Brian Topp

For further information:

Jim Rutkowski -- 250-812-1741

Julie-Maude Beauchesne -- 514-846-1398

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Brian Topp

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