The Human Freedom Index, which is compiled every year by the Fraser Institute, shows Canada’s economic freedom ranking has dropped from fifth place to 11th.
Economic freedom is the ability of individuals and families to make their own economic decisions without the government interfering or heavily influencing what we purchase, what kind of businesses we should open, or what we should invest in. But freedom isn’t exactly what the Trudeau government is all about…
Canadians enjoying less economic freedoms
The Trudeau government continues to push a carbon tax that rises every year. Economists have argued that increased taxes and reckless spending by our government since 2015 has minimized space for free exchange and has reduced economic freedom.
High income taxes contribute greatly to the suppression of economic freedom as well. Income tax levels in this country are absolutely astonishing. The top bracket for personal income tax is now above 50 per cent in half the provinces! Can you believe that? How are people supposed to feel incentivized to move up in their careers and invest in markets if they’re forced to give half of it away in taxes? I’m sorry, but if an individual makes $1.5 million in a given year, who are we to take $750,000 from him? Not only is it unfair, it is also limiting with respect to economic freedoms.
Canadians have astoundingly high personal debts – among the highest in the world in fact, and these debts are starting to take a toll on Canadians’ ability to spend comfortably and invest freely. Canadians are also heavily taxed. A heavily taxed population that is faced with soaring prices on everything from groceries to transportation — in addition to their pre-existing heavy debts — spells disaster for the country. And I believe a disaster is exactly what Trudeau and the global elites are turning Canada into…