The Harper government had already planned to cut the small business tax rate to 9%. The Liberals promised the same, but then delayed the cut for two whole years while pushing new tax hikes instead.
Justin Trudeau and the increasingly desperate Liberal government are trying to distract from the growing backlash against their tax attack on Canadian small businesses. That’s why they announced that the Liberal government will cut the small business tax rate from 10.5% to 9% over the next two years.
There’s only one problem:
The Harper government had already set a course to cut the tax in their last budget. Additionally, Trudeau is now two years late in reducing the tax rate, since everyone expected it to happen in his first budget.
Instead of getting it done on schedule, Trudeau delayed and delayed, and then pushed devastating new tax hikes on Canadian small businesses. Now, facing a massive backlash, Trudeau has decided to follow up on what he promised years ago, in a desperate effort to distract from the opposition to his attack on Canada’s local businesses.
Trudeau has also backed down on a change to the lifetime capital gains rule, which was set to devastate family businesses as they were transferred from one generation to another. Of course, words and deeds are different things, and until there are more details, there’s no reason to trust what Trudeau is saying.
As noted by the Canadian Press, “Trudeau campaigned in 2015 on a promise to reduce the small business tax rate to nine per cent from 11 per cent over three years. But he announced in Budget 2016 he would freeze the rate at 10.5 per cent, cancelling in the process a legislated reduction to nine per cent instituted by the previous Conservative government.”
Clearly, Trudeau had no intention of reducing the small business tax rate, and is only doing so in a desperate attempt to salvage his declining popularity. While the tax cut is a good thing, it would have happened sooner if Trudeau hadn’t been elected in the first place. As a result, he deserves zero credit for it.
The elites want to hide their many failures behind political correctness, deception, and manipulation. We need to push back and spread the truth.
That’s why I write.
Building this website takes a lot of work, but it’s worth it, and there are two ways you can help:
2 – You can share this article