Fraser Institute study reveals that Trudeau’s tax policies will mean almost every family in our nation will be paying more, with an average increase of $2,218 per year. It’s a total violation of his promise to cut taxes for the middle class.
A new study by the Fraser Institute has shown beyond doubt that Justin Trudeau is raising taxes on Canadians, a far cry from his campaign promises.
Here are some key points:
“However, a recent study found that when all the Trudeau government’s major changes to the personal income tax system are properly accounted for (including the elimination of income splitting and other tax credits), income taxes have been raised, not lowered, on the vast majority (81 percent) of middle income Canadian families.”
“In addition to enacting changes to the personal income tax system, the federal government has also announced other significant tax changes that will take effect in the coming years. For instance, payroll taxes will be increased to fund an expansion of the Canada Pension Plan (CPP), with the first increase taking place in January 2019. The dramatic increase in the CPP payroll tax, which was a joint venture with the provinces but initiated largely by the federal government, will be fully implemented in 2025. This raises the prospect of even more middle income families in Canada paying higher taxes beyond what the changes to the federal income tax system would alone indicate.”
“It finds that once fully implemented, virtually all (98.8 percent) of middle income Canadian families with children (with incomes ranging from $77,839 to $110,201) will pay higher taxes. And they will pay, on average, $2,260 more tax each year.”
“In fact, when looking at all 2.988 million families with children in Canada (excluding those in Quebec), 2.756 million, or 92.2 percent, will pay higher taxes—$2,218 more, on average, each year. Indeed, once the increase in CPP payroll taxes is fully implemented, nearly all Canadian families—regardless of where they stand in the income distribution—will pay higher taxes.”
As we can see, this is the opposite of what Trudeau promised Canadians. His entire campaign was built around middle-class tax cuts.
We know that if Trudeau had been honest and told Canadians that almost every family would be paying higher taxes, he would have been soundly defeated.
As a result, he was clearly elected under false-pretenses.
Not only that, but the way in which the tax hikes are being imposed is clearly designed to hide the truth. He made small reductions in one area, and raised taxes in other areas that get less attention. It’s incredibly deceptive, and that doesn’t even include the carbon tax.
With the carbon tax included, the tax hikes are even higher, and are going up every year.
It’s no wonder that people are feeling that it’s getting tougher and tougher to make ends meet. Under Trudeau, the government is taking more and more out of our pockets every chance they get.