Philip Cross: Governments’ bigger bite out of Canadian incomes
Financial Post ·
Governments have been taking more from Canadians' income both in income taxes and social insurance 'contributions.' They need to back off
In real terms, Canadians’ incomes have essentially stagnated for over a decade. Contributing factors include persistently slow growth of wages and salaries, as well as high inflation starting in 2021. But an often-overlooked factor is that via rising income taxes and higher mandatory contributions to the Canada/Quebec Pension Plan governments are taking a bigger bite out of people’s incomes. Read More