new taxes to increase over 50% in a number of provinces.... They’re not so sure about the tax promises, which involve cutting taxes for the middle class to 20.5 per cent from 22 per cent, and boosting taxes on some rich people to 33 per cent.
“The Liberals believe their plan will be revenue neutral, but this is uncertain since wealthy taxpayers often find ways to avoid paying new, higher rates, especially since the increase will send combined federal and provincial tax rates above 50 per cent in half of the provinces,” said Moody’s Analytics economist Adam Goldin.