Again, the CMA actually had Deloitte have an independent look at it, and it's anywhere between $16,000 and $32,000 a year.
Maybe we'll switch gears here, since it looks like I'm not getting very far with this, Mr. Chair.
Before, you were mentioning about the need to make the tax system fair. Canadians are a fair people. We're also a practical people, and we know that practical people make decisions. I'm going to read to you something from the 2016-1017 edition of Byrd & Chen's Canadian Tax Principles. This is about reduced tax revenues. It states:
There is evidence that, if tax rates are too high, the result may be reduced aggregate tax revenues. Some authorities believe this begins to occur at tax rates between 40 and 50 percent. We would know that, and with the 2016 increase in the maximum federal to 33 percent, maximum combined federal/provincial rate in most provinces now exceeds 50 percent, going as high as 54 percent in Nova Scotia. While it's difficult to predict the degree to which this will encourage tax evasion, it is almost certain that tax rates at this level result in significant amounts of income being moved out of Canada. Individuals with income in excess of the current maximum threshold of $200,000, often have great flexibility in where they reside and how they invest. Of particular importance is the possibility of moving to the U.S., where the combined federal/state rate on incomes in excess of $200,000 can be as low as 33 percent.
Given that there are wonderful winters in Florida, Minister, do you not see that by instituting this increase, the middle-income tax cut, or whatever you want to call it, you're actually putting our treasury at risk?