Morneau raised the top personal income tax rate from 29 to 33 per cent.
taxes
If you tax all consumption without exception, you can get the same tax revenue with a lower rate.
Like all taxes, a carbon tax imposes its own burdens and amplifies the economic costs of all other taxes in the economy.
When federal and provincial/local revenue shares are combined, the tax revenue-to-GDP ratio is close to 40 per cent.
The 10.5 per cent small business tax rate on the first $500,000 of income creates an incentive for many Canadian firms to stay small.
Business owners must spend significant amounts of money on accountants and lawyers to navigate the tax code.
In the House of Commons on Tuesday, the prime minister admitted that many middle-class Canadians are now paying more taxes.
The Trudeau government is pressing ahead with contentious reform plans for small business taxation.
Canada’s economy has grown at or above 1 per cent in 18 different quarters since 2000.