This past week, the federal Minister of Finance Bill Morneau revealed the Liberal plan to reduce the tax bite for the middle class and make it revenue-neutral by raising taxes for those earning in excess of $200,000 annually was not going to be revenue-neutral at all. The plan is going to cost taxpayers more than $1 billion annually, starting in 2016.
The U.K. tried this plan a few years ago under the Labour government and wealthy people found ways to hide income, and/or move their operations and their homes right out of the U.K. to tax havens like Monaco. So the British government dumped the plan.
Would you blame those wealthy Canadians if they moved their money, their businesses and themselves right out of Canada? Would they be abusing Canada and Canadians, or would they simply be protecting their families and their hard work from a Liberal government which identifies the successful as not giving enough back?