If you tax something less, you’ll likely get more of it.
If passed in its current form, the Republican tax bill may result in US$1 trillion in tax cuts for U.S. businesses over the next 10 years.
The budget creates a new, higher top personal income tax rate of 16.8 per cent.
The current federal government raised the top federal personal income tax rate to 33 per cent.
The NDP and Green Party both want to raise B.C.’s top personal tax rate.
In 2015, the Notley government scrapped the single-rate personal income tax.
A one percentage point drop in the combined corporate tax rate would increase the average wage of Canadian workers by up to $390.
In Ontario, the top combined federal-provincial personal income tax rate is now 53.5 per cent.