Mr. Speaker, when governments propose to eliminate tax loopholes they talk about soaking the rich. When the so-called loopholes are then closed it is more likely the not so rich get the bite.
The finance minister wants to make the tax system more equitable. Advice from his people says abolish deductions for the business lunch. It might take money from modestly paid travelling salesmen while devastating the often marginalized food service industry.
Lowering the cap on RRSPs might deprive rich people of some tax savings, but it would hit hard the lower and middle class self-employed who have no company pension or union contract plan.
Government bureaucrats can identify some loopholes, but before they get too enthusiastic they should take a good look at who exactly gets bitten.