Doctors’ Capitalist Ethos and the Fight for a Fairer Tax Code

Doctors’ aggressive opposition to a more equitable tax code reflects a capitalist ethos that’s often been at odds with public health.

The Canadian Medical Association, Coalition of Ontario Doctors, Ontario Association of Radiologists, Canadian Association of Radiologists and Ontario Medical Association all joined the newly formed Coalition for Small Business Tax Fairness. The Canadian Chamber of Commerce, Canadian Taxpayers Federation and Canadian Federation of Independent Business are also part of this large coalition established to scuttle a government initiative to lessen tax advantages for wealthy small business owners and remove loopholes that incentivize incorporation for high paid professionals (two thirds of doctors have a corporation to reduce their taxes).

The government’s proposal would restrict business owners’ ability to lower their tax rate by sprinkling income to family members — who do no work for the firm — in lower tax brackets. The changes would also limit certain companies’ investments in stocks and real estate and the ability to convert a corporation’s regular income into capital gains, which are taxed at a lower rate. The government says the proposed changes would have almost no impact on anyone making under $150,000 a year, but doctors often make $300,000, $500,000 or more and the higher the income the greater the savings under the current rules. According to a summary of the 2014-15 fiscal year, 500 Ontario doctors received…

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