Mr. Speaker, I thank the parliamentary secretary for his question. He is quite right. The Canadian dollar is doing very well compared to the ruble. That being the case, I suggest to the hon. member that there are other measures we should use. One might be the U.S. dollar, given the degree to which our trade relationship with the U.S. exceeds our trade relationship with Russia.
For our dollar to be strong relative to the ruble, as my grandfather used to say, is like peeing oneself in a dark suit. It gives one a nice, warm feeling, but nobody knows. It does not make any difference. That is not why, I am sure, the hon. member is wearing a dark suit.
He also said I had neglected to mention a few points. The reason I neglected to mention that taxes are lower in Canada than in the U.S. was because they are not. There is a reason we neglect to mention things we know are absolutely, completely and utterly false. Because I understand the differences between tax levels in Canada and those in the U.S., I neglected to mention some of the mistruths he introduced in the House today. I am certain those mistruths were unintentional.
Our capital gains taxes, regardless of income level, are still considerably higher than those in the U.S. Our corporate tax burden is still the third highest of the 31 OECD countries, and after five years of tax reduction it will still be about the third highest.
We still have some of the highest marginal tax rates for successful Canadians. If we look at basic levels of income, Canada's cutoff point for taxing low income earners is about $3,000 lower than in the U.S. In Canadian dollars the difference is closer to $4,000. The hon. member would like to think, I am certain, that we are a kinder and gentler nation, but Canada taxes low income earners far more harshly than does the U.S.
While he crows about the baby steps his government has taken in the right direction, I suggest he should remember that a tortoise moving in the right direction on the autobahn is still roadkill.