The Morneau corporate tax initiative is not about closing loopholes, or making the tax system more “fair,” as the minister likes to claim. Its underlying objective is higher taxes on the rich — the top five per cent, the top one per cent and the top 0.1 per cent. Having raised the top marginal rate as promised, the government is now pushing more Canadians into the top rate through the corporate reforms. And there is more to come.
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