Social Sciences
8 years ago

High Marginal Tax Rates in Canada Stifle Economic Growth and Job Creation

SSRN Electronic Journal
The Economic Costs of Increased Marginal Tax Rates in Canada
Robert Murphy, Jason Clemens, Neils Veldhuis

Paper Summary

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Marginal tax rates in Canada affect economic behavior by showing how much tax people pay for each extra dollar earned. Canada's tax burden is actually higher than it seems due to provincial taxes and lower income thresholds. To improve the tax system, Canada should flatten tax rates and broaden the tax base by reducing deductions and credits.