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Originally Posted by MarchHare

tl;dr: If you make between $45k and $199k, you get a small tax break. If you make over $200k, your tax bill goes up.

Current federal income tax brackets:

15% on the first $44,701 of taxable income, +
22% on the next $44,700 of taxable income (on the portion of taxable income over $44,701 up to $89,401), +
26% on the next $49,185 of taxable income (on the portion of taxable income over $89,401 up to $138,586), +
29% of taxable income over $138,586.

Proposed income tax brackets from the Liberal election platform (changes from current rates in bold):

15% on the first $44,701 of taxable income, +
20.5% on the next $44,700 of taxable income (on the portion of taxable income over $44,701 up to $89,401), +
26% on the next $49,185 of taxable income (on the portion of taxable income over $89,401 up to $138,586), +
29% on the next $61,414 of taxable income (on the portion of taxable income over over $138,586 up to $199,999), +
33% of taxable income over $200,000.

brutal. Way to punish people for earning more.

The idea should be to reward people for earning a higher income. The more a person makes, the more taxes are collected regardless. This new tax measure essentially punishes those who figure out a way to increase their income level. And Trudeau wonders why companies 'cheat' on their taxes?

If anyone is making that dollar amount or more they would be wise to, I don't know, maybe run 3 numbers companies to split the profits up and in an effort to pay less tax.