May 23, 2024

The Queens County Citizen

Complete Canadian News World

Should the rich be taxed more than 50%? “There is a breaking point,” Mario Dumont said

Should the rich be taxed more than 50%?  "There is a breaking point," Mario Dumont said

Although tax hikes for the wealthy are expected to be announced in the federal budget on Tuesday afternoon, Mario Dumont believes there are limits to rates of 1% without repercussions for the economy.

Political analysts are particularly concerned about large companies and investors deciding to leave the country.

“There is a breaking point,” he says. Currently, individuals earning these salaries are taxed at approximately 52% in Quebec. More than 50% proved that there was no further appeal. You work and […] You give more to the government than what is left.

“When I say it's a breaking point, I mean people are taking action,” he says. They leave Canada, take their money, move their money. Ultimately this is bad for the Canadian economy because if they could, they would invest elsewhere.

It is “Canada's economic tragedy,” Mr. Dumont opined.

  • Listen to the Dutriac – Dumont meeting by QUB :

“Companies are not investing anymore,” he said. Productivity is free fall and productivity is directly the standard of living. The population has yet to get this message, but our standard of living is falling and it's a slippery slope.

“In a few years, if nothing happens, our standard of living compared to the Americans, we will no longer be in the same club,” he continues. Vacancies are already growing exponentially, but we expect this to accelerate as companies here no longer invest in productivity. It's a worrying financial situation.”

The former politician also pays special attention to budget expenditures, more specifically whether they are fully anticipated in the current year.

READ  From father to son in LaFlor: They want to double the size of the company in 10 years

“What we're hearing is that the deficit for the budget year to start is probably not going to be as big as all the announcements in recent weeks suggest because we're likely to commit to spending in the next two or three budget years,” he said.

“In other words, a government that surveys show has a strong chance of losing the election will already commit to the next government's budgets,” explains the former ADQ leader. This will also be something to note. “

Watch Mario Dumont's full analysis in the video above

About The Author