This election, the NDP is proposing policies — including a new “super wealth tax,” raising the tax rate for the top income bracket and closing tax loopholes — that would directly curb my family’s wealth to fund social services. For over three decades since the Second World War, the federal income tax rate hovered around 50 per cent for folks in the top income tax bracket. Today, the top personal federal income tax rate (affecting only folks making over $205,842 per year) is 33 per cent. They’ll raise the top income tax rate by two per cent. And they’ll implement a “super wealth tax” — a one-per-cent tax on wealth over $20 million, annually.

Source: Huffington Post October 20, 2019 14:37 UTC