In Canada, 36.1 per cent of people in the top decile in 2017 were not in the top decile five years earlier.
More tax credits complicate the tax code.
McGuinty’s new top tax bracket was called the temporary “deficit-fighting high income tax bracket.”
Calgary households will see a $60 property tax increase, on average.
Motorists in Vancouver will see the gasoline tax increase by 1.5 cents per litre.
Ottawa has exacerbated the tax-rate gap between small businesses and employees.
By reducing the rewards of investment and entrepreneurship, governments in Canada have discouraged the very activity they profess to encourage.
More than six years after the recession of 2008-09, eight out of 10 provinces (including Alberta, which released its budget yesterday) are currently in deficit, and the newly formed federal government has committed to falling back into deficit.
With tumbling oil prices and resource revenues, Premier Jim Prentice had a choice when he delivered Alberta’s 2015 budget. He could emulate former premier Don Getty and raise taxes or follow the Ralph Klein playbook and reduce spending.
This spring’s mail-in plebiscite will essentially ask Metro Vancouver voters if they’re willing to pay $250 million more in sales taxes each year to fund the $7.5 billion expanded transit system proposed by a council of the region’s mayors.