Taxes Going Up

Prime Minister Justin Trudeau speaks in Ottawa on Thursday, Dec. 14, 2017.Justin Tang / Canadian Press

Prime Minister Justin Trudeau speaks in Ottawa on Thursday, Dec. 14, 2017.Justin Tang / Canadian Press

A new Fraser Institute reportThe Effect of Canadian Families of Changes to Federal Income Tax and CPP Payroll Tax — says more than 90% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025. The first of seven increases to CPP tax — which all workers much pay — begins Jan. 2019. The study’s co-author, Charles Lammam, talks about the impact on middle-class families.

What was the most surprising thing you found in the report?

“Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they’ve already put in the case, we’ve found that’s not true for the vast majority of middle class families. But then there are major tax changes set to come into effect, starting next year, particularly the payroll tax hike to fund the Canada Pension Plan expansion. We found that plus what has already been implemented will result in over 92% of all families with children in Canada paying higher taxes and they’ll be paying on average $2,200 more per year.”

[…]

See Also:

(1) So much for Trudeau’s pledge: Middle-class families now pay more taxes

(2) ‘I share that anger’: Trudeau responds to townhall heckler angry over $10.5 million Omar Khadr settlement

(3) Stop No. 2 on Justin Trudeau’s Reputation Reclamation Tour

(4) Canada spends $29B a year on business subsidies — and half of it is wasted

(5) Trump looms over Trudeau’s arrival

(6) The Federal Government Is Corrupt

(7) U.S. cites Trudeau’s progressive trade agenda as barrier to progress on NAFTA

(8) U.S. plaintiffs fire back at Khadr defence over damages-award enforcement

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donpear
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donpear

The more I see of this incompetent the prouder I am of his being our P.M. (sarc. off)

BTDT
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BTDT

Taxes going up?  Man, the jokes on us huh?  Well, at least 39.5% of us.    How’er you bunch that sat at home and would have voted against Trudeau if you’d had enough smarts and concern for your country’s future to get off your media manipulated lazy fat asses to prevent this?   Taxes going up?   Well, guess what?  Given the state of the world, our indefensible borders, the lack of ability and preparedness of our defense systems (emergency measures/military/police) to protect us then you had better figure this out.  This is our biggest problem at this moment in time and for (at least) the next couple… Read more »

FredR
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FredR

Don’t worry.  Our budgets will balance themselves.