What happened to our economy?

Re: Canadians falling backward — Oct. 10

A recent EKOS poll revealed that 43 per cent of Canadians identified themselves as middle class, down from 70 per cent who did so in 2002. And it indicated that only 13 per cent of these people believed things would be better for their children. What happened? Corporate tax cuts of 15 per cent in 15 years haven’t improved the economy or created more jobs. The income of CEOs has increased to 200 times more than the average salaried employee, plus bonuses, even when companies fail, while employees and creditors get nothing. Canada has more than one million millionaires, with the total projected to increase almost 50 per cent by 2021, according to a report from the Credit Suisse Research Institute.

The aforementioned is an indication of a systemic failure enshrined in greed, and empowered by the law to benefit the few, at the expense of the many.

What I think will help is to change the law — by electing MPs who run on this promise and are not a member of an existing party.

I suggest a 10 per cent flat tax on all earnings up to $1 million, 20 per cent on the second million, 30 per cent on the third million etc., no loopholes, no retail sales tax, no GST collected, and the taxes spent on infrastructure, alternative energies and farming initiatives. Neal Hammond Guelph