Tax revenue collected from the top one per cent in Canada fell by $4.9 billion in 2016.
personal income tax rate
Eleven out of 23 urban areas in the province have not recovered from the last recession.
Ontario raised its top personal income tax rate by 3.1 percentage points, preventing up to 2,158 new businesses from starting.
An estimated 2,158 new businesses will not startup in the province due to the higher tax rate.
B.C. recently raised its top personal income tax rate from 14.7 per cent to 16.8 per cent.
An estimated 1,374 new businesses will not startup in the province due to the higher tax rate.
More than 80 per cent of middle-class families have experienced an increase in their federal income taxes.
The rate of small business startups in Canada has declined by almost 13 per cent since the early 2000s.
The top combined tax rate in Ontario is 53.53 per cent, the second highest combined rate in Canada and the United States.