Expenditures on housing comprise less than half of what the average family pays in taxes.
Between 45 to 50 per cent of all federal revenue comes from the personal income tax.
The bottom 20 per cent of income-earning families pay 0.7 per cent of all federal and provincial personal income taxes.
By raising top tax rates, the government discourages entrepreneurship and innovation.
The top 20 per cent of income-earning households paid 61.4 per cent of the country’s personal income taxes in 2022.
According to budget forecasts, the federal government will run a $40.1 billion deficit this year.
In 2023, the average Canadian family earning $140,106 will pay 46.1 per cent of their income in taxes.
Lower income tax rates incentivize people to work, save, invest and engage in entrepreneurial activities.