What I'm taking away from the testimony today is that to achieve this tax cut, which is essentially 90¢ a day for the average Canadian in this band of income, we are going into debt and are risking unwanted effects on growth. When the parliamentary budget office testified and wrote their report, they indicated that the changes would drag down the real GDP in the future, which is of concern for me.
Dr. Mintz, a couple of meetings ago, a Liberal member of this committee wanted to know if any studies in the world showed that people were deterred by income tax rates when those people made more than $217,000 a year. I think in your comments you pointed to some information and studies that show that growth and decisions are affected. Anecdotally, I would say that my research has shown—and maybe you can enlighten us as well on talent erosion in the country—that when you're competing for Canada's brightest minds in technology, when Google and Twitter are offering starting salaries of $200,000 for somebody coming out of a very good university, I would assume that's going to play into their determination of where they want to live and work. With that, Dr. Mintz, I'm wondering if you could talk a little about your analysis, which you mentioned before, of how growth in the end can be affected by having this increase in the top rate.