Tax reform is in the air. The Liberal government in Canada and the NDP in Alberta are raising taxes in 2015 and 2016. While proposed to target the wealthy 1% of Canadians, experts agree that the middle class will incur some of the greatest impact. The proposed Pfizer and Allergen merger ($156B deal) will provide the combined entity with considerable tax savings and an offsetting loss of tax revenue in the US. Of course this has spurred much political commentary and a rallying cry for corporate tax changes. There is an adage that as much as things change, they remain the same.

This statement written during the Depression in 1931 rings true today….
“You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half the people do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my friend, is about the end of any nation. You cannot multiply wealth by dividing it.”

– Dr. Adrian Rogers, 1931

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