Modify Canadian tax policy to encourage more lower-income people to participate in corporate growth through capital markets rather than employment markets, suggests an opinion piece by UWindsor professors Imran Abdool and Richard Douglass-Chin, published Monday in the Globe and Mail newspaper.
Abdool, an instructor in economics and for the Odette School of Business, and Dr. Douglass-Chin, a professor of English, along with collaborator Kal Juman of IndustryLabs, argue that the corporate shift from manufacturing to technology limits job opportunities for workers.
“Poorer households in Canada often live paycheque to paycheque, making investment in capital markets a hard choice,” they write. “Participation in capital markets is unlikely for these households; therefore, strong incentives such as increasing the dividend tax credit … should be considered.”
Read the entire article, “We need to steer lower-income Canadians toward capital markets.”