A1

You are paying too much tax!

If your only source of income is your pay cheque, the correct answer may be “True”. If you derive your income from stocks and investments, chances are that the correct answer is “False”.
Our income tax system is stacked in favour of the affluent and high-earners.  Average Canadians effectively pay a higher percentage of their income on tax because they can't take advantage of breaks such as low tax rates on capital gains*.  Most Canadians have their taxes deducted from their pay cheques; some may have to pay more when they fill out their tax returns. 

Tax breaks for those who are affluent hurt the rest of us by reducing revenue for the public programs we need.  Canada's taxation system isn't as fair and balanced as it used to be and certainly not as fair as it could be. 

*Capital gains are increases in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price.  The gain is not realized until the asset is sold, and must be claimed on income taxes.

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