National
Low and middle income Canadians hit hardest by high marginal effective tax rates
From the Fraser Institute
By Philip Bazel
A new study published by the Fraser Institute today finds that Canadian families and individuals with annual incomes between $30,000 and $60,000 face marginal effective tax rates near or above 50%.
Among the provinces, BC has the lowest tax rates of 38%.
Ontario has a rate of 50% – and high-income families at $300,000+ are taxed lower at 44%.
Families with modest income brackets consistently face disproportionately high marginal effect tax rates, raising questions of fairness and efficiency in the tax and transfer system.
Dig into the numbers and see how your province placed here.
Canadian families and individuals with annual incomes between $30,000 and $60,000 face marginal effective tax rates near or above 50 per cent, finds a new study published by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
“Canadian families with modest incomes face high marginal effective tax rates, often higher rates than Canadians in top income tax brackets,” said Jake Fuss, director of fiscal studies at the Fraser Institute, which published Marginal Effective Tax Rates for Working Families in Canada by Philip Bazel, an associate at the School of Public Policy at the University of Calgary.
The marginal effective tax rate (METR) measures the personal income taxes paid (federal and provincial) and the reductions in government benefits, resulting from earning an extra dollar. For example, the Canada Child Benefit, a monthly payment, is reduced as family income increases. In other words, the effective tax rate is the combination of taxes you pay and benefits you lose as you make more money.
Crucially, across the provinces, individuals and families with relatively modest incomes face the highest rates. This unfortunately creates a disincentive for earning additional income, as the financial benefits are significantly offset by increased taxes and/or reduced government benefits.
Canadian families with modest incomes, particularly those earning between $30,000 and $60,000, face the highest marginal effective tax rates. For example, families earning a household income of $60,000 are subject to an effective tax rate of 50 per cent or higher in every province. In Quebec, the METR is as high as 67 per cent at this income level.
Among provinces, BC has the lowest rate (38 per cent) averaging across the $30,000 to $60,000 bracket. Ontario’s rate for the $30,000 to $60,000 bracket is 6 percentage points higher (50 per cent) than high-income families at $300,000 or higher (44 per cent).
“Families with modest income brackets consistently face disproportionately high METRs, raising questions of fairness and efficiency in the tax and transfer system,” Bazel said.
“These findings highlight the need to prioritize METR reductions for low-income families.”
Author:
From LifeSiteNews
Around the same time Chrystia Freeland announced she is running to replace Trudeau as leader of the Liberal Party, citizens noticed that her World Economic Forum page has been deleted from the globalist group’s website.
Former finance minister and deputy prime minister Chrystia Freeland’s World Economic Forum (WEF) page has been deleted around the same time she announced her bid for leadership of the Liberal Party.
On January 19, Freeland, who recently resigned from Prime Minister Justin Trudeau’s cabinet, announced that she would run for Liberal leader now that Trudeau says he is stepping down. Around this time, the WEF’s profile on Freeland was taken down from their website.
“Sorry, but we can’t find the page you were looking for,” the page now says after clicking on the link which originally brought users to Freeland’s WEF profile. The page is still viewable via the internet archive, which notes that she is on the Board of Trustees for the globalist group best known for its infamous “Great Reset” agenda.
In addition to the WEF page being deleted, the majority of Freeland’s Instagram posts have been removed from public view.
Many have speculated online as to the reason why these actions were taken, with some suggesting that Freeland desires to distance herself from the massively criticized group.
Critics often pointed to Freeland’s association with the group during her tenure as finance minister and deputy prime minister, as she was known for pushing policies endorsed by the globalist organization, such as the carbon tax and online censorship.
Freeland’s ties to the WEF seem extensive, with her receiving a personal commendation from former WEF leader Klaus Schwab.
Freeland is perhaps best known internationally for her heavy-handed response to anti-mandate Freedom Convoy protesters, which saw the then-finance minister direct financial institutions to freeze the bank accounts of Canadians who participated in or donated to the protest.
One of Freeland’s main opponents in the Liberal leadership race, Mark Carney, also has ties to the WEF, and has similarly come under fire from critics for pushing their globalist agenda.
National
Poilievre calls likely Trudeau replacement Mark Carney the World Economic Forum’s ‘golden boy’
From LifeSiteNews
‘He is the golden boy of the World Economic Forum and he will be a disaster if he ever gets anywhere close to power’
The leader of Canada’s Conservative Party, Pierre Poilievre, had choice words for Liberal leadership candidate Mark Carney’s ties to global elites, calling him out as the “golden boy” for the World Economic Forum.
“He is the golden boy of the World Economic Forum and he will be a disaster if he ever gets anywhere close to power,” Polievre said in a video posted to X on Monday.
Poilievre added that the reason “we know” Carney will be a “disaster” is that “he has been Justin Trudeau’s personal economic advisor” for years.
“If you think that Justin Trudeau has done a bad job on the economy, you know who’s been pulling his strings,” the Conservative Party leader added.
“Carbon tax Carney. They’re both [Carney and Chrystia Freeland] … just like Justin, and that’s why we need a carbon tax election to fire them all and bring home a common-sense Conservative government,” he said.
As referenced by Poilievere, Carney has worked closely with the WEF for years, in addition to serving in top roles as a central banker in both England and Canada.
The banker has also endorsed the carbon tax and even criticized Trudeau when he exempted home heating oil from the tax.
The Liberal Party of Canada will choose its next leader, who will automatically become prime minister, on March 9, after Trudeau announced that he plans to step down as Liberal Party leader once a new leader has been chosen.
Just last week, Carney drew headlines after no less than four journalists from independent media were forcefully barred from attending his Liberal Party leadership candidacy press conference.
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