Canada’s employment rate has steadily declined since December 2017—from 62.0 per cent to 61.5 per cent.
The Trump administration has lowered business tax rates and introduced accelerated depreciation.
Canadian provinces comprise nine of the 10 jurisdictions with the highest combined personal income tax rates in Canada and the U.S.
Alberta tax changes have hurt the province’s investment attractiveness.
Ontario’s top combined marginal personal tax rate is 53.53 per cent.
The amount invested in Canada by foreigners declined 55.1 per cent.
The U.S. corporate tax rate is now significantly lower than Canada’s rate.
Lower business taxes tend to result in higher wages for employees.