For a government that claims to want to cut taxes on Canada’s middle class, the Trudeau Liberals are doing a bang up job of increasing them.
personal income tax rate
The problems with the tax exemption for employer-paid health and dental benefits portend a larger problem with Canada’s tax system.
In 2013, the top 10 per cent of tax-filers earned 35 per cent of Canada’s total income yet paid 54 per cent of federal and provincial income taxes.
The province's new top personal income tax rate is now higher than B.C.'s rate.
The new Trudeau government plans to raise personal income taxes on the top one per cent of Canadian income-earners in order to fund a personal income tax decrease on the middle class.
After governments abandon fiscal prudence, they will soon search for any and all ways to tax people more. This is the reality playing out in Alberta where Premier Jim Prentice has floated multiple tax increase trial balloons.