DOING THE MATH ON LIBERAL TAX CUTS: GUESS WHO WINS AND WHO FOOTS THE BILL?
December 9th, 2015 - 12:31pm
Prime Minister Justin Trudeau’s promise to make Canada a fairer place hit its first stumbling block. Under his proposed tax cut plan for the middle class, two thirds of Canadians will be left behind, while those doing very well will benefit. For example, if you make between $90,000 and $200,000 you will get tax relief, but if you are making $40,000 or 50,000 a year you get nothing.
Charlie Angus says Trudeau has a strange notion of what constitutes the struggling middle class.
“If you’re a Member of Parliament, you will get a nice tax break. If you work as a construction labourer or as a cashier you get zip except for the bill. How does this pass any test of fairness?”
Angus points out that the Liberal plan will blow a big hole in government revenues.
“Mr. Trudeau promised that a tax on the wealthiest 1% would cover off this gift that turns out is for the upper middle class. But when we crunch the numbers it turns out that that the Liberals come up with a billion dollar plus shortfall. The Liberals just can’t do math. So we have a tax benefit from the super well to the very well off that leaves ordinary Canadians footing the bill.”
New Democrats have called for tax relief for the first level of income earners in order to ease the cost of living for families.