How to reduce Income Inequality

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An honorable member of the Coffee Shop Has Just Posted the Following:

RESTORE FAIRNESS IN OUR TAX SYSTEM
Our tax system is a mish-mash of deductions, exemptions, credits and transfers that benefit the wealthy and result in an estimated $100-billion of forgone revenue annually. Let's simplify the tax code and restore fairness in our system so funds can be targeted to households that most need assistance.

MULATE GERMANY’S APPROACH TO SKILLS TRAINING
The country with the strongest growth has much higher rates of apprenticeships and on-the-job training and its private sector works closely with post-secondary institutions to produce grads with skills the economy needs. It has one of the best-trained work forces in the world – and a low youth jobless rate.

BOOST SUPPORT FOR THE WORKING POOR
Give more money to the working poor and reward them for participating in the job market by enhancing the federal government’s Working Income Tax Benefit, an earnings supplement for low-wage workers. This will reduce financial strain among low-income families and help kids move up the economic ladder.

ENHANCE EARLY CHILDHOOD EDUCATION
Providing high-quality, affordable, accessible care to pre-school kids has proven long-term economic benefits, most importantly boosting the ability for people to improve their standard of living. It's an approach being adopted in Prince Edward Island – and in Sweden, which has been honing its system for 40 years.

CREATE A NEW “SOCIAL CONTRACT”
Temporary and part-time employment is growing, particularly for younger workers. In order to adapt, we should introduce broader social supports that guarantee health benefits and pension plans to those in less stable work. It’s a costly move – but would result in a more prosperous country for everyone.


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