Carney’s tax plan would benefit the richest the most – just ask his cabinet « Canada’s NDP

Earlier today Mark Carney announced his tax plan. But what he didn’t say to Canadians is that his plan would benefit the richest people the most.

His income tax proposal is so broad that it also gives a break to the top tax bracket – people earning over $253,414 a year.

After Justin Trudeau was elected in 2015, he hiked taxes on the top tax bracket.

And Carney’s plan to scrap Trudeau’s capital gains changes would mean a tax break for just .13% of Canadians.

But don’t take our word for it – hear it from Mark Carney’s Liberals:

Chrystia Freeland on the capital gains changes:

“We estimate that only 0.13 per cent of Canadians—with an average annual income of $1.4 million—will be affected by this change in any given year.”

Finance Minister Francois-Phillippe Champagne:

“Canadians understand that what we did in the last budget was about generational fairness. That is the core issue that Canadians want us to address. That is why we made changes to the capital gain taxes, because we want to invest in the next generation. We want to invest in workers. We want to invest in seniors. We want to invest in our future.”

Justin Trudeau on hiking taxes for the richest 1%:

“We will raise taxes on the wealthiest 1% of Canadians so we can cut them for the middle class. We will stop giving government cheques to wealthy families so we can give more to the middle class and lower income families.”