pman
Senior Member
If Wikipedia is your preferred source, here’s a Wikipedia link confirming Canada well behind the US and Australia using three different data sources. I focused on these countries because they are good comparators for what Canada might be expected to achieve. But doesn’t.
As for socialist, the 7 point increase in the top marginal personal income tax rate to 53.5% at around CAD 220k taxable income in Ontario, courtesy of Wynne and Trudeau, is certainly confiscatory. If that’s not socialism, I’d hate to see the real thing. Meanwhile, the Australian government just introduced a budget that would cut income taxes for all brackets. And while the top marginal rate in high-tax US states can be around 50%, it kicks in at much higher levels of taxable income than ours does. I get that for anyone making 50k a year, taxing the “rich” until they squeal (or quietly leave the country as two of my adult kids have done and I’m considering) is immensely satisfying. Class war has certainly been rewarding electoral politics for the LPC. But the overall economic result is unlikely to be pretty in the lifetime of most of this site’s readers.
List of countries by GDP (nominal) per capita - Wikipedia
en.wikipedia.org
As for socialist, the 7 point increase in the top marginal personal income tax rate to 53.5% at around CAD 220k taxable income in Ontario, courtesy of Wynne and Trudeau, is certainly confiscatory. If that’s not socialism, I’d hate to see the real thing. Meanwhile, the Australian government just introduced a budget that would cut income taxes for all brackets. And while the top marginal rate in high-tax US states can be around 50%, it kicks in at much higher levels of taxable income than ours does. I get that for anyone making 50k a year, taxing the “rich” until they squeal (or quietly leave the country as two of my adult kids have done and I’m considering) is immensely satisfying. Class war has certainly been rewarding electoral politics for the LPC. But the overall economic result is unlikely to be pretty in the lifetime of most of this site’s readers.