Mr. Chairman, I know that my good friend across the way will find this a very difficult thing to realize but the economy grew. The increased tax revenues were as a result of the
economy growing. The tax rates were not increased. Almost none of the total revenues were as a result of tax increases.
It is a funny thing. Does the hon. member not want the economy to grow? Would he be happier to see the economy not grow?
When the economy grows, corporations make profits, people become employed and they both pay taxes. Not only that, many people go off unemployment insurance and that cuts expenses. When that happens the deficit is reduced. That is the way it works. I did not think I would have to explain that to a fellow economist.