Young Canadians will pay additional $19,880 in income taxes to pay for federal debt accumulation; those over 65 face extra $1,524 in taxes
Lifetime Tax Burden for Canadians from Federal Debt Accumulation
By Fraser Institute —— Bio and Archives--September 11, 2021
Canadian News, Opinion | Comments | Back To Full Article
CALGARY—The debt the federal government is expected to accumulate now, and in the future, will be disproportionately paid for by younger Canadians, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
“Today’s deficits are tomorrow’s taxes so it’s important for Canadians, particularly younger Canadians, to understand how these deficits and rising debt levels will affect their lives in the future,” said Jake Fuss, senior economist at the Fraser Institute and co-author of Lifetime Tax Burden for Canadians from Federal Debt Accumulation.
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