B.C. NDP promises new top tax bracket on income over $1 million to fund health care
Eby says the changes would raise about $1 billion a year and affect fewer than four per cent of earners.
NDP Leader David Eby promised on Sunday in Comox to tax income above $1 million at a rate of 24.5 per cent if re-elected, with the revenue used to help fund health care, CBC News reported.
Rates would rise by two percentage points in the current top two brackets, from 16.8 to 18.8 per cent on income between $190,504 and $265,545, and from 20.5 to 22.5 per cent on income between $265,545 and $1 million. Income over $1 million would be taxed at 24.5 per cent.
The NDP said the changes would apply to fewer than four per cent of earners and bring in an estimated $1 billion. "As we face an unprecedented attack on our economy and rising costs for working families, we'll ask the wealthiest to chip in a little more," Eby said.
The B.C. Conservatives said the plan would tax the doctors and specialists communities are trying to recruit. Green Leader Emily Lowan said taxing incomes misses the point because most of the ultra-wealthy do not get rich on paycheques.
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