The Truth About Trudeau’s Tax Hikes: Hurting Canadian Taxpayers
By punishing those who create new jobs and economic opportunities, Trudeau will reduce the tax revenue we need to fund infrastructure, healthcare, and essential programs.
WINNIPEG, MB – As the Trudeau government seeks to raise taxes on countless small businesses, entrepreneurs, and even family farms, they are ignoring the dangers of their impending policy.
Not only are small businesses the largest job creators in Canada, but they also contribute a massive amount of tax revenue. Small businesses generate revenue for the government in multiple ways. Their owners pay taxes, their employees pay taxes, and they generate sales tax revenue every time they make a sale. Additionally, the collection of sales tax is handled by businesses – meaning business owners act as unpaid tax collectors for the government.
By imposing a tax hike that will reduce investment, and reduce employment, the government is likely to end up bringing in less revenue than they do now. Additionally, the many jobs that aren’t created or that are lost due to the tax hikes could increase poverty, leading to higher government spending on welfare. Instead of more people having jobs and being part of the tax base, there will be more people struggling to find work and finding themselves on social assistance. This represents a double-loss to the government, as they will bring in less revenue and face demands to spend even more money.
And the real cost of this will be paid by Canadian taxpayers. If these tax hikes go through without some serious changes, there will be less money for infrastructure and healthcare. Not only that, but Canada will face bigger deficits, more debt, and more economic pain.
Spencer Fernando, MyToba News