Due to the new tax, financial capital will be used less efficiently and productivity will suffer.
The evidence suggests that workers pay more than half of any corporate tax.
The Biden administration plans to increase the U.S. federal corporate tax rate from 21 per cent to 28 per cent.
Alberta's corporate income tax rate will drop from 10 per cent to 8 per cent.
New government plans to reduce rate to 8 per cent.
Corporate income tax reductions benefit people throughout the economic spectrum, not just the affluent.
The U.S. federal corporate income tax rate dropped by 14 points to 21 per cent.
Private-sector capital spending in the U.S. picked up substantially after President Trump took office.
Cutting the corporate tax rate would help lower Canada’s overall effective tax rate on new investment.
Reducing Canada’s corporate tax rate will directly promote business investment.