Trudeau gave exemptions to big corporations, but smaller and medium size Canadian companies will be slammed with the full tax, and they’re worried they can’t handle the cost.
A new survey shows that small and medium-sized companies are concerned that they won’t be able to pass on the cost of the tax to consumers through price increases, meaning that slashing jobs and wages is all they’ll have left.
According to BNN Bloomberg, a survey of 3,527 members of the Canadian Federation of Independent Business found “About 80 per cent of the respondents said they didn’t think it would be easy for them to forward costs on to their customers. The poll found 55 per cent of those surveyed didn’t expect to pass on any of the additional costs, while 25 per cent said they would only be able to pass on less than 25 per cent of the extra costs.”
The CFIB pointed out the obvious consequence of that:
“These findings should be deeply worrisome to public policy makers. It means small firms will be forced to find the resources to pay the tax from the business itself, which means it may come at the expense of wages, jobs or future business growth.”
This was all predicted long-ago.
The Trudeau Liberals claim their so-called ‘rebate’ will make up the costs, but the reality is that it won’t even come close to making up for the increased cost of living.
And worse, the government obviously hasn’t accounted for the economic damage of price hikes, wage cuts, and lost jobs, because people like Trudeau and McKenna don’t care about real Canadians.
Of course, Trudeau is giving an exemption or lower tax rate to his big elitist corporate friends, but small and medium-sized Canadian businesses don’t get those same benefits. And since small businesses create the most jobs in Canada, the damage of the carbon tax will be immense.
The carbon tax is a looming economic disaster for our country, and it must be stopped.
Photo – YouTube