Financial Post: Income splitting helps the poor, too
An opinion piece by Lawrence Solomon
"Many left-leaning advocacy groups and some on the right criticize the federal government’s income-splitting proposal as sops for the rich that offer nothing to 85% of Canadian households.
To the contrary, the middle class and especially the poor would be profound beneficiaries of income splitting, along with society as a whole.
Poor households are overwhelmingly dominated by the unmarried — just 12% of the households in the bottom quartile are married, compared to an 86% marriage rate for the wealthiest quartile, according to a study published this week by the Institute of Marriage and Family Canada. 'Because of the enormous economic advantages in marriage both to marrieds and society at large, tax reforms among other incentives are warranted,' says the study’s co-author, Philip Cross, formerly the Chief Economic Analyst at Statistics Canada."
Read the full article online here: http://opinion.financialpost.com/2014/02/27/lawrence-solomon-income-splitting-helps-the-poor-too/
