For the province's top earners, each new dollar they earn is taxed at 53.53 per cent.
To boost their after-tax income by $100, workers at the national average income in New Brunswick must earn an additional $154.60 compared to only $139.30 in B.C.
Eighty-one per cent of middle-class families in Canada now pay higher income taxes.
When taxes on investment returns are very high, the negative consequences, compounded over time, can be dramatic.
The Wynne government’s budget raises most middle tax rates and adjusts income thresholds.
The Alberta government recently abandoned the province’s single 10 per cent tax rate on personal income in favour of a five-bracket system with a top rate of 15 per cent—a move that will reduce Alberta’s competitiveness and cause undue harm on an already struggling economy.