Earlier this week, the Conservatives announced their first election plank of the campaign: the “Family Tax Cut,” or income splitting for couples with children, selling the plan as a helping hand for middle class and low-income families.
In his latest post on the CCPA election blog, Research Associate David Macdonald’s done some number crunching and reveals the “Family Tax Cut” would provide 61% of the benefits to the richest third (32%) of Canadian families who make over $100,000 a year. The very top 10% of families that make over $150,000 capture almost a third (28%) of this tax cut.
The poorest quarter of all Canadian families, which make $50,000 a year or less, share 0% of the total benefit and will see an average benefit of $20. The middle 44% of Canadian families with children, those that make between $50,000 and $100,000, only get 39% of the benefit.
Click here to read the full post.