James Alexander Michie: Maxime Bernier proposes an income tax plan | National Post
Author: James Alexander Michie
Maxime Bernier has undoubtedly caused a stir among Canadians and his income tax plan is no exception, since thanks to it he has been classified as a madman.
As has already been becoming commonplace, Bernier in one of his many attempts to capture the attention of Canadians draws attention to his latest promotional tactic, which is an invitation to Canadians Instagram to call Mad Max, with the lead of the conservative leadership candidate with Photoshop in an image of the shameless road warrior.
The plan that Bernier has proposed transforms into a radical overhaul of Canada’s income system, raising the personal exemption level from the current $ 11,474 to $ 15,000, freeing 1.5 million low-income Canadians from the payment of the federal income tax. Coupled with this I would entail that the current tax brackets would be abolished, replacing them in such a way with a band of 15 percent for those who earn between $ 15,001 and $ 100,000, and a band of 25 percent for those who earn six Figures or plus.
Bernier during Thursday expressed “Several of these boutique tax credits are subsidies essentially motivated politically to buy the support of some specific groups at the expense of the rest of the population.”
Despite this, there are those who suggest that this becomes an intriguing perspective, but even so it is not as novel as it seems at first glance.
Meanwhile, opinions on the matter have not stopped and it has been argued against Bernier’s proposal, that it has the consequence that the tax system is less progressive, that is, the rates do not increase in the blocking measure of the incomes.
However, there are those who have said that the system can be as progressive as its advocates wish, simply by raising the personal exemption rate. Establishing itself as the positive side, that people have an incentive to work harder and keep more of their own money.
Source: John Ivison | National Post