Thank you for that question.
I have some grave concerns about how that system was set up. It wasn't really creating a family tax system as we see in other countries. Instead, it's taking the individual taxes that we have and sort of jury-rigging a family tax credit on top of that. In the way it was structured really, almost all of the benefits went to high-income people like me, quite frankly, so I am talking against my own economic interest here. I think there's a general philosophy that any income tax change that benefits Mike Moffat is probably bad for the country because I'm one of the last people who needs help.
Again, I do think there is a way to structure this through a family tax system. This is one area where I would agree with Mr. Mintz, who generally supports income splitting. His statement was that, “simply allowing income splitting will do little for middle-income families, and equalizing the after-tax market income between single- and dual-earner families would ignore differences in time allocation between families”.
I would agree with that statement.