{"id":8364,"date":"2024-04-16T07:00:31","date_gmt":"2024-04-16T04:00:31","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=8364"},"modified":"2024-04-16T07:00:31","modified_gmt":"2024-04-16T04:00:31","slug":"lilley-trudeau-budget-expected-to-have-job-killing-tax-hikes-in-it","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=8364","title":{"rendered":"LILLEY: Trudeau budget expected to have job-killing tax hikes in it"},"content":{"rendered":"<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">Columnists<\/li>\n<li class=\"breadcrumbs__item\">Canada<\/li>\n<\/ol>\n<\/nav>\n<p>Portrayed as making the rich pay their fair share, the NDP plans Trudeau is embracing will only kill jobs.<span class=\"callout__text\"> Get the latest from Brian Lilley straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/torontosun.com\/author\/blilleypostmedia\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\">  <\/span><\/button><span class=\"published-date__since\">Published Apr 15, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 5\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">NDP leader Jagmeet Singh and Prime Minister Justin Trudeau on Parliament Hill in Ottawa. <\/span> <span class=\"distributor\">SunMedia<\/span><\/figcaption><\/figure>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>There will be no tax hikes on the middle class in Tuesday\u2019s budget but expect tax hikes that will affect the middle class. The Trudeau government has been signalling for weeks that tax hikes are coming to deal with their massive spending increases, they just don\u2019t plan to tax the middle class.<\/section>\n<section aria-describedby=\"advertisment5312651025358925743651803881275392\" class=\"ad\">Advertisement 2Story continues belowThis advertisement has not loaded yet, but your article continues below.<\/section>\n<section class=\"row\">THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Unlimited online access to articles from across Canada with one account.<\/li>\n<li>Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on.<\/li>\n<li>Enjoy insights and behind-the-scenes analysis from our award-winning journalists.<\/li>\n<li>Support local journalists and the next generation of journalists.<\/li>\n<li>Daily puzzles including the New York Times Crossword.<\/li>\n<\/ul>\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Unlimited online access to articles from across Canada with one account.<\/li>\n<li>Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on.<\/li>\n<li>Enjoy insights and behind-the-scenes analysis from our award-winning journalists.<\/li>\n<li>Support local journalists and the next generation of journalists.<\/li>\n<li>Daily puzzles including the New York Times Crossword.<\/li>\n<\/ul>\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine data-sailthru-personalization-engine-component><\/section>\n<p>Don&#8217;t have an account?  Create Account<span class=\"identity-divider__line\"><\/span><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"><\/span><button class=\"button button--span button--icon-reverse button__passwordless-login\" data-evt-val='{\"control_fields\": {\"mparticle\": {\"keys\": {\"click_source_type\": \"click_source_type\", \"anchor_text\": \"anchor_text\", \"target_url\": \"target_url\", \"layout_section\": \"layout_section\"}, \"mp_event_type\": \"Navigation\", \"extra_keys\": [\"click_vertical_position_percentage\", \"click_vertical_position_pixels\"]}}, \"click_source_type\": \"button\", \"anchor_text\": \"Sign in without password\", \"target_url\": \"https:\/\/torontosun.com\/passwordless-sign-in\/\", \"layout_section\": \"passwordless-login\"}' data-evt=\"click\" data-evt-typ=\"click\"><span class=\"button__text\">Sign in without password<\/span> <span class=\"button__icon button__icon--email\" aria-hidden=\"true\"><\/span> <span aria-hidden=\"true\" class=\"feature-badge\">New<\/span> <span class=\"visually-hidden\">, a new way to login<\/span><\/button><\/p>\n<footer class=\"identity-footer col-sm-10 col-md-12\"><\/footer>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">Article contentInstead, driven by demands from the NDP and Trudeau\u2019s junior coalition partner, Jagmeet Singh, we are going to see tax increases on high-income earners and corporations.<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">Article contentSingh, who seems to be running the government rather than Trudeau these days \u2014 dictating key policy decisions \u2014 has been calling for an \u201cexcess profits tax\u201d for some time. It\u2019s unclear what such a tax would look like in practice, but New Democrats were boasting this week to Radio Canada, CBC\u2019s French division, about looming corporate tax hikes.An unnamed source, speaking confidentially, said that the NDP would like the corporate tax rate to rise from the current rate of 15% to 22% calling it essential for a more equitable society.\u201cWe could close half of the gap gradually over the next few years. If we reach 18%, that means $9 billion\u00a0 more in state coffers,\u201d an unnamed NDP source told Rad Can.<\/section>\n<section class=\"newsletter-widget__new-story-page None background--primary-light-gradient\" aria-labelledby=\"YourMiddaySun5479749270217790784927664716120064\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component data-target-list=\"TORSUN_YourMiddaySun\" data-widget=\"newsletter\">Your Midday SunYour noon-hour look at what&#8217;s happening in Toronto and beyond.By signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.The next issue of Your Midday Sun will soon be in your inbox.We encountered an issue signing you up. Please try again<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">Article content<\/section>\n<section aria-describedby=\"advertisment2682182407481967808076591902228480\" class=\"ad\">Advertisement 3Story continues belowThis advertisement has not loaded yet, but your article continues below.<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">Article contentThis is why Rad Can wrote what we will see on Tuesday will be \u201cA budget written in orange ink.\u201d It\u2019s a great line, especially when you consider that the Trudeau Liberals are taking tax advice from the economically illiterate Singh NDP.Once upon a time, Canada\u2019s corporate tax rate stood at 28%, but in 2000, then-prime minister Jean Chretien began lowering it down to 22%. When Stephen Harper took office in 2006, he lowered it to the current 15%.While critics claimed this would make the government poor, the opposite happened, revenue from corporate income tax stayed steady or went up each year. A study by the Montreal Economic Institute in 2018 detailed corporate tax revenues using inflation adjusted 2017 dollars and found no significant decrease other than in years when recessions were taking place.The reason is that a lower tax rate makes Canada a more attractive place to do business. More companies investing in equipment and jobs here means more economic activity and more revenue for the government.<\/p>\n<h3>Recommended video<\/h3>\n<p>We apologize, but this video has failed to load.<button class=\"video-controls\" type=\"button\">Play Video<\/button>A lower tax rate makes Canada a more attractive place for foreign investment. Pushing the corporate tax rate up to 22%, as the NDP would prefer, would put Canada\u2019s corporate tax rate higher than the United States.For more than a century, Liberal and Conservative governments have maintained a lower corporate tax rate in Canada as a key economic policy to attract investment.<\/section>\n<section aria-describedby=\"advertisment2779927391932799088690491912355840\" class=\"ad\">Advertisement 4Story continues belowThis advertisement has not loaded yet, but your article continues below.<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">Article content<\/p>\n<blockquote class=\"twitter-tweet\" data-dnt=\"true\" data-width=\"550\"><p>This guy was the key civil servant for Paul Martin when the Jean Chr\u00e9tien government balanced the budget. <br \/>The Liberals appointed his Governor of the Bank of Canada. <br \/>He thinks the current Liberal government is definitely on the wrong track. #cdnpoli pic.twitter.com\/hHODvl7vN0\u2014 Brian Lilley (@brianlilley) April 15, 2024<\/p><\/blockquote>\n<p>Now that we have a defacto NDP government in place, perhaps that is out the window. Plenty of people have called Justin Trudeau a socialist over the years, but his decision to adopt NDP economic policy gives some credence to those claims.That\u2019s why it was funny to hear Trudeau speaking to the Canadian Chamber of Commerce on Monday and warning about taking too much out of the pay cheques of Canadians.\u201cWhen too much take home income is going towards housing costs, that\u2019s money not spent in the broader economy, money not invested in starting a small business, money that\u2019s not stimulating or spurring our economy,\u201d Trudeau said.It\u2019s great to hear Trudeau embracing trickledown economics when it comes to housing costs, but why won\u2019t he do that on taxation?<\/section>\n<section aria-describedby=\"advertisment1508136829370760804240995706208256\" class=\"ad\">Advertisement 5Story continues belowThis advertisement has not loaded yet, but your article continues below.<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">Article contentIf he increases taxes on high-income earners, they will have fewer meals out, hurting the cooks, the waiters and restaurant owners. They will cut back on what they order in, hurting Canadians trying to keep a side hustle going, delivering food as a second job.They may cut back on the household services provided by small businesses, from landscaping to security services.The same holds for businesses facing higher tax pressures.Hiring will freeze, capital spending on equipment and productivity will slow down. New investment from outside firms will hit pause or be directed elsewhere.Trudeau is pitching his budget as something to cure what ails us. Instead, he\u2019s likely to make things much, much worse.<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">Article content<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val='{\"control_fields\": {\"mparticle\": {\"mp_custom_flags\": [\"Google.NonInteraction\", \"Google.Page\"], \"extra_keys\": [\"percentage_of_page_viewed\", \"active_time_on_page\", \"percentage_of_story_viewed\"]}}}' data-evt=\"beforeunload\" data-evt-typ=\"page_scroll\">Share this article in your social network<\/section>\n<section class=\"comments__section\" data-aqa=\"viafoura-comments\" id=\"comments\">Comments<\/p>\n<details class=\"expansion-panel comments__section__list\">\n<summary class=\"expansion-panel__summary\"><span aria-hidden=\"true\" class=\"article-card__comment-icon\">  <\/span><span>Join the Conversation<\/span><\/summary>\n<\/details>\n<\/section>\n<section class=\"widget js-widget-flyercity\" aria-labelledby=\"flyerWidgetLabel\" data-aqa=\"widget-flyercity\">This Week in Flyers<\/section>\n","protected":false},"excerpt":{"rendered":"<p>The fact described in the text is that the NDP plans embraced by Trudeau will involve tax increases on high-income earners and corporations, rather than the middle class.<\/p>\n","protected":false},"author":6,"featured_media":8365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[6552,6393,5936,1902,533,1766,186,913,325,2908,1793,279,6267,33,3681,4498,4919,5099,2511,5193,1992,4117,4734,716,26,4382,415,5098,4769,2294,3398,67,2753,28,3755,148,4179,2628,6599,393,3331,4593,110,1799,4833,2983,1792,5957,957,5612,5614,827,1806,89,3603,3480,5644,1358,1065,4222,3359,4556,4185,4738,1183,169,544,380,2389,5129,6305],"class_list":["post-8364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-access","tag-analysis","tag-article","tag-bank","tag-bank-of-canada","tag-budget","tag-business","tag-canada","tag-check","tag-civil-servant","tag-coalition","tag-comment","tag-commerce","tag-companies","tag-corporate-income-tax","tag-corporate-tax","tag-corporate-tax-rate","tag-corporations","tag-costs","tag-decisions","tag-decrease","tag-democrats","tag-economic-activity","tag-economic-policy","tag-economy","tag-food","tag-government","tag-governor","tag-high-income-earners","tag-income","tag-income-tax","tag-inflation","tag-investment","tag-jobs","tag-journalists","tag-local","tag-middle-class","tag-money","tag-ndp","tag-new-york","tag-news","tag-office","tag-online-access","tag-parliament","tag-policy","tag-policy-decisions","tag-prime-minister","tag-productivity","tag-restaurant","tag-revenue","tag-revenues","tag-security","tag-services","tag-small-business","tag-small-businesses","tag-spending","tag-sun","tag-support","tag-tax","tag-tax-hikes","tag-tax-increases","tag-tax-rate","tag-tax-revenues","tag-taxation","tag-taxes","tag-twitter","tag-united-states","tag-us","tag-video","tag-warning","tag-who"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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