Despite inflation and a looming recession, Canadians are going to have to dish out more of their paycheck to pay for tax increases.
The Trudeau government is moving ahead with at least five different tax increases in 2023, showing little to no concern over the economic welfare of Canadians.
For instance, workers and employers will pay more starting January 1, 2023, for the Employment Insurance premiums and Canada Pension Plan premiums, a tax collected directly from paychecks.
According to the Canadian Taxpayer Federation, an average middle-class worker will pay $4,756 in 2023 while their employer will pay $5,157. Those figures are non-inclusive of income taxes, often also deducted directly from the paycheck.
The Trudeau government will also be increasing its widely criticized carbon tax. It will also increase taxes on alcohol and create a new tax under the “clean fuel” regulations.
“At minimum, government should be pressing pause until inflation is under control,” the Canadian Federation of Independent Business president said.