There is no quick turnaround from this. Millions will be unemployed even after the all clear is given. And none will have any money to spend on an economy. Government will be giving out EI checks for months to come (before transforming it into a a universal basic income check). You fooling yourself if you think any taxes are being eliminated or going down percentage-wise.
Disposable income will basically be eliminated in the population. Watch for CRA to pull out its ultra-mega microscope when looking at taxes. Start combining border information with individual income and you could easily see them start targeting those with foreign assets. Socialists will be happy when government says anything over $40k in net income is extravagant and must be surrendered for the good of the motherland.
Disposable income will basically be eliminated in the population. Watch for CRA to pull out its ultra-mega microscope when looking at taxes. Start combining border information with individual income and you could easily see them start targeting those with foreign assets. Socialists will be happy when government says anything over $40k in net income is extravagant and must be surrendered for the good of the motherland.
Comment