Philip Cross: Governments’ bigger bite out of Canadian incomes

In real terms, Canadians’ incomes have essentially stagnated for over a decade.

Contributing factors include persistently slow growth of wages and salaries, as well as high inflation starting in 2021.

But an often-overlooked factor is that via rising income taxes and higher mandatory contributions to the Canada/Quebec Pension Plan governments are taking a bigger bite out of people’s incomes.

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