Taxes

Governments in Canada are financed through taxes and by borrowing from both Canadian and international capital markets.

Promoting equality in an advanced capitalist country like Canada necessarily involves the tax regime. When taxes do not counter-act the immense inequality generating capacity of the capitalist marketplace, then social and economic inequality grows rapidly.

Since the mid-1970s there has been a major shift in how policy analysts and politicians think about taxes. In this section, a series of graphics shows you how the tax regime of both Canada and Newfoundland have changed from a progressive regime, one that promoted equality,  to a regressive regime that promotes inequality.