All these tax moves to avoid spending cuts and save the McGuinty government from another election should be seen in the context of the political and economic crises that continue to unfold in Europe...
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As the McGuinty/Horwath team in Ontario follows Spain and others in the spending and tax policy, it may believe that marginal tax rates of 50% and more are unlikely to alter behaviour and economic performance. So far, higher taxes on the rich have not helped Europe. Nor will they do anything for Ontario, except keep Dalton McGuinty in power for a bit longer.Read the entire article at the Financial Post
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