From fraserinstitute's EISEN AND FUSS: Ford government should reduce harmful high income tax rate onpoli
reduce the incentives
for additional productive economic activity. This undermines long-term economic growth in the province, which affects everyone. And high tax rates make it harder for Ontario to attract mobile high-skilled workers with lots of choices about where to live. At 53.53%, Ontario has the third-highest top personal income tax rate in Canada and the United States..
Finally, it’s not even clear that such high tax rates achieve their goal of generating substantial new government revenue because, again, high tax rates reduce incentives for production and dampen economic growth, which shrinks the size of the underlying tax base and undermines the goal of raising more revenue.
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