This Old Economist: “Raise corporate and luxury taxes”

I stand by my title re raising taxes.

Sure, I’ll make my fair share of enemas. (That's right. I work at a medical supply center).

But based on a recent, short, economic blurb, I feel Canada and the US - by raising corporate taxes and income tax for big-rollers and taxes on luxury items - could slow runaway national debts, rope in growing budgetary deficits and beef up all-important educational programs for students and young adults caught in the grips of unemployment.

(Can the residents of Harperville hear me?)

Before you choke on your glass of Chateau Lafite 1787 (sold at Christie's London in 1985 for $160,000), here’s the blurb:


$359 billion - The amount rich Americans are forecast to spend on luxury goods in 2011, according to an American Express and Harrison Group (no relation) survey. That’s up 8% from last year. (Apr. 16, London Free Press)

Taxes are not nearly high enough on the upper crust of society. One less bottle of wine per year won’t hurt them.

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