By raising top tax rates, the government discourages entrepreneurship and innovation.
At 53.53 per cent, the province has the third-highest top personal income tax rate in Canada and the United States.
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.
The top 20 per cent pay nearly two-thirds of all federal and provincial income taxes.
Wealth inequality clearly declined in Canada during the pandemic.
In total, 48 U.S. jurisdictions have lower top PIT rates than every Canadian province.