It took a global pandemic to expose the crisis in Canada’s #LTC homes. Here’s why it’s essential to remove profit from care. THREAD: #CDNpoli#LTCs
1. At 69%, Canada has had the highest number of #COVID deaths in long-term care among G7 countries.
2. Decades of underinvestment + privatization has broken Canada’s #LTC system, leading to higher costs, lower staff to residents ratio & fewer resources.
3. Residents in for-profit #LTCs receive fewer hours of direct care than residents in not-for-profit homes–a result of fewer hires and under-resourcing.
4. Acc to a study published in @CMA_Docs, for-profit #LTC homes in Ontario had worse COVID outbreaks and more deaths than non-profit and municipally-run LTCs. cbc.ca/news/canada/to…
5. A @TorontoStar investigation in Aug 2020 found that the largest operator of private nursing homes received $21M in wage subsidies, which it gave to its top shareholders as dividends. thestar.com/news/canada/20…
6. Currently, the top priority of for-profit homes is being accountable to their shareholders - they will always direct money away from internal operations that would improve residents’ quality of life if management views those expenditures will reduce their shareholders’ ROI.
7. In our Medicare 2.0 report, we lay down recommendations to reform Canada’s LTC system, and give our seniors the care they deserve. broadbentinstitute.ca/medicare_2_0
8. Recommendations include:
👉Bringing LTC into the public healthcare system, following the Canada Health Act to fund them the same way we fund hospitals/physicians.
The LIBs have promised a $9 billion investment in #LTC over 5 years, while the NDP have promised to take profit out of LTC and include it in the Canada Health Act. #elxn44#CDNpoli
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1. A wealth tax is foreign to Canada
Canada already has this: The property tax, imposed on almost all wealth held by low/middle income Canadians-their homes. A wealth tax extends this tax to include other forms of property above $20M, like stocks/bonds-mostly held by the wealthy
2. A wealth tax hasn't worked in other countries.
"Wealth taxes in many European countries were badly designed. They had low thresholds, so they taxed many people who were not ultra-rich, just well-off. Today’s proposed wealth taxes only target those who are undeniably wealthy."
The winners: 1. Canada’s top grocery stores earned $721 million in profits in only 3 months of the pandemic.
- Loblaws: $342 million
- Metro: $187 million
- Empire Company Ltd. (owns Sobeys): $ 192 million
2. Billionaires:
- Canada’s top 20 billionaires amassed $37 bn in 2020.
- The top five billionaires increased their wealth by $5.5 bn
A list of countries that have a #WealthTax and how they work. THREAD:
#Norway has a wealth tax of 0.85% on individual stocks worth more than $170,000. Of this, 0.7% goes to municipalities, and 0.15% goes to the central govt. In 2017, the wealth tax made up 1.1% of all Norwegian tax revenue.
#Spain has a progressive wealth tax between 0.2% and 3.75% on stocks above $784,000.
The lived experience of the Chinese community globally and here in Canada has been harmed tremendously by #COVID19. #IDERD
From a mother berated by hate after venturing to the grocery store for some fruit, to the doctor rapidly losing patients, the Chinese community has weathered a startling amount of hate and xenophobia amid #COVID19: globalnews.ca/news/6602754/c…
The increase in racism and xenophobia has led to acts of violence across Canada. Canadians who are considered visibly “Asian” are being stabbed, like this 44 year old Korean man: