One of the true measures for a country is income growth, especially after taxes. Canada continues to struggle when it comes to both employment and after tax income.
4. Liberal Party of Canada – Taxation
policies
• Elimination of the transit tax non-refundable tax credits – Saved people
on average $650/year in taxes
• Elimination of boutique tax credits – Saved taxpayers $500-600 in taxes
E.G – fitness and textbook credits
• Cut taxes by 1.5% federally, but much of that tax cut was lost via the
elimination of tax credits
• New child tax benefit which is only $80/year more than the CPC plan.
The new child tax benefit is also index with inflation
5. Liberals – Strong Middle Class
• Source - https://www.youtube.com/watch?v=euojIobkCm8
7. CPC – Harper
• http://globalnews.ca/news/1356467/tax-cuts-since-2005-net-canadians-30b-
pbo/
• The result, says the PBO, is that personal income taxes are $17.1
billion lower today than they might have been, and Canadian
consumers are paying about $13.3 billion less in value-added
taxes on their purchases of goods and services.
• Another gift to the government in the report was that the PBO
found that in relative terms — lower income Canadians earning
between $12,200 and $23,300 benefited the most, increasing
their after-tax income by four per cent.
Global TV – May 27, 2014
8. What drives the economy?
• 2/3 of the economy is driven by consumer spending
• If people have less after tax dollars then less is spent on consumer
spending
• Hiking consumption and/or introducing carbon taxation hurts the
low to middle class more in terms of costs