FOR IMMEDIATE RELEASE
October 4th, 2007
“Ontario families are Ontario's future. We ought to invest in our future.” says Bill Murphy, Family Coalition Party (FCP) candidate for Sault Ste. Marie. “Income splitting is one of the ways the FCP proposes to support families.”
“Raising my children is likely the most important job I will ever have.' says Murphy. “I believe most parents feel the same way. It is rewarding, but almost always calls for sacrifice, especially for families with low to middle incomes.”
“That sacrifice often inspires one parent to reduce their career commitments or surrender them altogether for a time, in order to care for infants and toddlers the way they want to. This is immensely valuable work and the government ought to recognize that rather than penalize it.”
A chartered accountant, Heather Gore-Hickman, recently compared four households with a total household income of $60,000 ... One couple that had two earners each making $30,000, paid tax of $6276. The last couple on the block, with only one earner making $60,000 while the spouse at home had no income, paid a tax of $8783. The last couple pays 42% higher tax than the first couple, even though they have identical total family income or 'ability to pay tax'.
Even if one parent is working part-time, they pay a premium in tax. “The fair answer to this” says Murphy “is to tax the households, not the individuals. Even two full-time working parents can benefit from income-splitting.”
Typically, those couples with only one income earner are those caring for young children. Thus the current system penalizes families for having and raising children. “If we truly care about working families” says FCP candidate, Bill Murphy, “then we should not minimize the work of thousands of Ontario parents who choose to care for their children at home.”
“I respect that choice” says Murphy “and I want more Ontario parents to have the economic freedom to choose how they want to raise their children.”
The Family Coalition Party believes that parents caring for young children should receive the same tax relief now given only to those who use day care. Policies are set forth in more detail at www.familycoalitionparty.com
“It's all about families.” says Murphy. “Strong and prosperous families are the foundation of a strong and prosperous Ontario.”
END RELEASE
Bill Murphy
FCP Candidate Sault Ste. Marie,
542-7606
Giuseppe Gori
FCP Party Leader
888-613-2645
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