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BAD NEWS FOR WAYNE
January 30, 2008
If, like one of my colleagues, you plan to move to Canada if (your most disliked nominee here) is elected in November, note this from the TaxProf: The Case For Raising Taxes On Canada's Rich.
Canada should raise federal personal income tax rates on the rich to close the growing income gap and to bring them more in line with those in the U.S., says a study released today by the Alternative Federal Budget project of the Canadian Centre for Policy Alternatives. The study, by economist Andrew Jackson, points out that Canada's top federal tax rate is considerably lower than the U.S.: The top U.S. tax rate is 35% on incomes over $326,000 and 33% on incomes over $150,000; Canada's top federal income tax rate is 29% on incomes of over $116,000.
Andrew Jackson? He never was much of an economist.
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