Madam Speaker, my colleague was giving some very enlightening comments on our 17% tax proposal. I want him to carry on a bit to clarify and enlighten all of us here and the viewing audience as well.
Let us keep this real simple and use the example of a husband and wife with no kids on the scene. I have a brother and his wife who are in that situation. If they had an income of $40,000 and they each had this $10,000 exemption, in effect they are going to be paying 17% tax on that additional $20,000. Am I correct in understanding that they are not going to be paying 17% on that second $20,000, from $20,000 to $40,000? At that level they will not be paying 17%. It would be much less. In fact one would have to have a fairly good wage before one would be paying anywhere close to that actual 17%.