I recently came across this scary chart (see below)showing the trend in marginal tax rates for top-bracket U.S. citizens from 1925 to 1945. It was in a documentprepared by retired professor David Stanley for a Canadian MoneySaver conference in January.
Hopefully, the stimulus to be unleashed in Budget 2009 by the Conservatives will help support a sustained recovery in the economy. If it doesnt, the combination of elevated government spending and shrinking tax revenues might lead to more that a jump in public debt. Maybe this is what Evelyn Jacks meantwhen she warned that the budget deficits laid out in Budget 2009 will mean higher taxes for Canadians in future
Blogs & Comment
Deficits and taxes
By Larry MacDonald
I recently came across this scary chart (see below)showing the trend in marginal tax rates for top-bracket U.S. citizens from 1925 to 1945. It was in a documentprepared by retired professor David Stanley for a Canadian MoneySaver conference in January.
Hopefully, the stimulus to be unleashed in Budget 2009 by the Conservatives will help support a sustained recovery in the economy. If it doesnt, the combination of elevated government spending and shrinking tax revenues might lead to more that a jump in public debt. Maybe this is what Evelyn Jacks meantwhen she warned that the budget deficits laid out in Budget 2009 will mean higher taxes for Canadians in future