More than 80 per cent of middle-class families have experienced an increase in their federal 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.
Canadian families in the top 20 per cent pay 55.9 per cent of all federal, provincial and municipal taxes.
In 2017, the average Canadian family with two or more people will pay $47,135 in total taxes.
No one really thinks there shouldn’t be any taxes. After all, how would governments fund important public services that form the foundation of our economy? Think of services such as protecting property, building infrastructure, upholding the legal system, to name a few.