Trump's tax bombshell is going to blow up Canada's competitiveness

While Canada debates hiking taxes on small businesses, the Trump administration and Congress launched a tax-reform process Wednesday that could make the United States one of the most competitive countries in the world. Much is still left to Congress to sort out, such as scaling back credits and deductions to offset some of the lost net revenues of US$2.2 trillion over a decade. And who knows if a final deal will be made despite the enormous pressure on Republicans to deliver a tax-reform package after the demise of health-care reform. If significant tax-rate reductions occur as contemplated, Canada will be distinctly offside, especially when it comes to retaining entrepreneurs. The call to “go south, young enterpriser” could well be the end result if we continue to tax more heavily the skilled population who pay a hefty price to support public budgets in Canada. -- More....