I did not think nor expect amongst my professional peers that this thought provoking question would devolve into a political forum. That said, I think the simple answer to the question is no. Our economic system is effectively focused in three main sectors. To establish economic resilience, our country needs to expand into other economic areas. Taxation and competition are factors that can hinder or stimulate such expansion. Going overboard on reducing taxes will end up in a future deficit. However not reducing taxes enough will limit expansion. Conceivably reducing tax rates can actually increase total tax revenue by virtue of more competition and the entry of more businesses into our market. Finding that sweet spot has always been a challenge for all governments.
By Another Tax Guy on August 28, 2019
No, if one looks at how the ordinary working-class Canadians are coping with the Liberal government’s tax changes. Clearly, the government’s focus is to “increase” taxes , through claw-backs, and eliminations of some non-refundable tax credits that are important to most Canadians with families. This action is a reversal of the Liberal’s 2015 election promise to bring relief to the “middle class”, students, and others at the subsistence level of income. The question appears to be referring to Canada’s trade policies, specifically the uncertainty around NATA, but certainly not about ordinary Canadians. So, I agree with Jim.
By Trevor Hitchman on August 21, 2019
If ANYONE thinks that the Liberals have not managed the economy reasonably well, just think back what the Conservatives did, or did not do, for 9 (?) years under Harper !? .....and he claims he’s an economist. Balancing a national budget does NOT qualify anyone for the Nobel prize in economics. All you have to do is cut, cut, cut programs, even those considered essential for all demographics, but NOT those for the corporate sector, e.g. the oil industry.
By Mike on August 16, 2019
I read somewhere that Canadian now pay more in tax than they do on living expenses. That is not good.
By Nancy on August 15, 2019
It truly matters little who is in Ottawa lately. Canada became a member of
organizations standing above individual countries dictating policies in the name of globalization and world elites. Just consider how many people own most of world wealth today. Most of the so called developed countries
have been gradually loosing their middle class and acquiring a new social class of working poor.
By Lenka on August 15, 2019
Good grief, what a question! The only change the federal tax changes have brought is reduced lifestyle and increased burden for John and Jane Canadian-Taxpayer. Again.
This is what happens when a country blindly elects an entitled, spoiled rich kid, who has never had to work for anything in his life, riding on his dad’s coat-tails. Pierre would be appalled if he knew what his son was doing.
By Ron on August 10, 2019
I am in agreement with Jim. My comment was going to be “Is this a serious question?” I will stand by it.
By Mitzi-Lynne Morgan on August 09, 2019
Is this question a joke of some kind? Recent changes are a disaster for all Canadians. Those without any economics education just don’t realize it yet.
By Jim on August 09, 2019
As it is a liberal government in charge nothing they do is for your average Canadian. Elitist only take care of Elitists. We are still living in Upper and Lower Canada when it comes to this government.
By Liza Wiley on August 09, 2019
Not likely has anything helped.
By D Burns on August 09, 2019