Does anyone actually read past the headline anymore?
The second paragraph says his proposal is cutting the tax rate on the lowest bracket (up to $55,867) from 15% to 12.75%.
Before you would pay 0.15($55,867) = $8,380
After you would pay 0.1275($55,867) = $7,123
You now pay $1,256 less in taxes. $1,256/$8380 = 15%
Saying he can fund this by "trimming the federal government bureaucracy" is up for debate depending on what you consider to be excessive federal spending.
If all 28 million people who filed a tax return in Canada only earned an income that was half of the lowest bracket (to be ultra conservative in accounting for all those who probably don't have any traditional income), that would equate to a reduction in tax revenue of $17.6 billion. If all of them earned the full $55,867, it would be a $35 billion reduction. The realistic number is probably somewhere in between. From what I can see, spending on federal personnel increased by about $14 billion just between 2020 and 2022.
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Discontented suburbanite since 1994
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