To: Federal Minister of Finance François-Philippe Champagne
Make $40k Tax Free
Raise the Basic Personal Amount on the Canadian federal taxes to $40,000. Let every Canadian make their FIRST $40k tax free.
Why is this important?
The Basic Personal Amount in the Canadian tax code needs to be adjusted for inflation. Too many Canadians are living on the brink of survival, and this one simple step would make a huge difference to the poorest working Canadians. If anyone working a full-time minimum wage job could make their first $40,000 tax free, we would all be better off.
Studies all over the world show that putting cash directly in the hands of the poorest folks directly benefits the economy as a whole. This is because folks that don’t have much money tend to spend most of what they have, spurring the economy from the bottom up.
Studies all over the world show that putting cash directly in the hands of the poorest folks directly benefits the economy as a whole. This is because folks that don’t have much money tend to spend most of what they have, spurring the economy from the bottom up.