Trudeau won’t crack down on his elitist buddies, so he’s going after the middle class instead.

Under current Canadian tax law, many CEOs and senior executives benefit from a loophole that requires payment of taxes on only 50% of earnings from stock options offered as part of a compensation package. Those packages are especially lucrative for CEOs of massive corporations, as stock options often form a large part of their compensation. This allows some of the wealthiest CEOs (including many top bank executives) to dramatically lower their tax bill.

So, if a government wanted to increase “tax fairness” without hurting the middle-class, closing the stock option loophole would be a key place to look. Of course, many of Trudeau’s top donors and supporters, and the true power brokers in the Trudeau government are members of the corporate elite. That’s who Trudeau really serves, and they want to keep their tax breaks.

As a result, Trudeau decided to target his “tax fairness” campaign at middle-class small businesses, trying to steal more money from family farms, entrepreneurs, and small businesses across the country. Yet, even as the hypocrisy becomes clearer and pressure mounts on the Trudeau government to close the stock option loophole, they’re refusing to do so. When recently asked about it, Joel Lightbound – the Parliamentary Secretary to Moneybags Morneau – said “that I can’t tell you right now.”

It’s ironic that a big tax loophole used by the elite remains untouched, but the government is trying to ram through a tax attack on small businesses. This should eliminate any remaining doubt that Trudeau is actively seeking to enrich his fellow elites at the expense of Canada’s middle class.

Spencer Fernando

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