consumption taxes

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Ottawa’s ‘luxury tax’ will hurt the economy and Canadians

The top one per cent of earners paid 18 per cent of the income tax—double the combined income tax payments of the bottom 50 per cent of earners.

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If you tax all consumption without exception, you can get the same tax revenue with a lower rate.

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Today the personal income tax accounts for almost half of federal revenues.

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With oil prices plunging and provincial resource revenues expected to drop, Alberta’s red ink will rise. In response, Premier Jim Prentice has floated the notion of a provincial sales tax and/or hikes in other taxes.