REPORT: Under Liberal Government, Richest 1% See Biggest Income Growth Percentage, Pay Fewer Taxes

Another blow to Justin Trudeau’s ‘middle class’ rhetoric.

Justin Trudeau has based a big part of his crumbling political image on the idea that he’s helping the ‘middle class.’

By contrast, as I’ve noted many times, Justin Trudeau only serves the elites.

And now, there’s more evidence of that.

According to Statistics Canada, the highest percentage income gains are going to the top 1%, and the top 0.1%.

While the average income gain for Canadians in 2017 (after the Liberals tax changes took effect) was 2.5%, which doesn’t even keep up with real inflation, income gains for the wealthiest 1% of Canadaisn were 8.5%.

And for those in the top 0.1%, income gains were 17.2%.

And amazingly, for the richest 0.01% of Canadians, their income gains were up a whopping 27.2% in 2017 alone.

Note, this is in percentage terms. While we would expect overall income gains among wealthy Canadian to be larger in money terms since they are starting with more in the first place, a larger percentage gain increase is different, and completely contradicts what Trudeau claimed his tax policies would accomplish.

Additionally, the effective tax rate for the top 1% went from 31.3%, to 30.9%.

Once again, it’s another broken promise by Justin Trudeau, showing nothing he says can be trusted.

Spencer Fernando

Photo – Twitter

6
Share Your Thoughts

avatar
6 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
6 Comment authors
SueClive EdwardsDavid MacKAYBrunoShawn Harris Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
NancyW
Guest
NancyW

Another Trudeau promise, thrown under the bus like most of their fake promises. This election has three groups promising huge debt promises, much higher taxes is a has to be, special promises for different groups but no realistic platform for our countries unity, for real jobs and future progress, like it is lets just blow everything Canada had or has, who cares about the future with bigger debt promises, more votes, more taxes, less jobs as business flees, not any promises with a real future included for regular Canadians, because they know if not us. our children will be left… Read more »

Shawn Harris
Guest
Shawn Harris

It is rather s a very strange way to lay claim to being the defender of the middle class and those wanting to join it; by passing legislation that claimed to be making the rich “pay just a little bit more”, so that the middle class can get a break. When in reality it turns out to be just the exact opposite, with the middle class paying a whole lot more , while the rich and super rich get to not only keep what they already have, but to take home even more money than we could ever earn in… Read more »

Bruno
Guest
Bruno

I guess probably if would be better for some of us to go to live South or another continent.This constant stress is not good for anybody’s health.

David MacKAY
Guest
David MacKAY

The 1% are running scared and want tighter controls as they impoverish the nation while they laugh at those who they pay so little. Trudeau thinks it is a matter of “buy their votes with their own money” so as to further impoverish them – adding “If you don’t like what I’m doing to you vote for someone else”

Clive Edwards
Guest
Clive Edwards

And that’s without the “Paradise Paper” bank accounts most of the “in crowd” have, to hide their money from the Tax Man, who preys upon us regular folk to provide massive incomes and pension plans (and contracts for those who retire with pensions from government and return to work as ‘contractors”).

As a retired person, it makes me question why I ever made the effort to help build this country.

Sue
Guest
Sue

This should be shocking to no one if they have followed what has happened in this liberal term. Justin has proved time and again that he says one thing, then does the opposite.