The House of Commons unanimously voted in favour of the Liberals’ promised income tax cut on Thursday.
The Liberals promised to bring in a one percentage point reduction in the lowest marginal tax rate — taking it from 15 per cent to 14 per cent — during this spring’s election campaign.
The government introduced a “ways and means” motion to make the tax changes last week and all MPs voted in favour of the motion on Thursday.
A ways and means motion allows the government to start making changes to the tax code before such changes are passed in legislation — but a bill will still need to be passed.
Yes, but to be faaaaiirrrrr, the truly rich don’t collect a salary. It is arguable that if a person’s income is subject to income tax, the person is not a capitalist but a worker. The rich have all kinds of ways to avoid declaring income.
Capital gains tax or Land Value Tax would be more interesting.