Mr. Speaker, I do not have a lot to offer him other than to ask for his opinion on the issue of taxation of the poorest in our society. He talked about low income Canadians and it is an issue that we have wrestled with for many years on the finance committee. It has been an annual subject of how to deal with this.
There are about 14 million Canadians who pay income taxes. If we were to deliver $100 into the pockets of each and every taxpayer, the price tag would be $1.4 billion. It demonstrates that across the board tax cuts are a very expensive proposition. It would be much better to focus the $1.4 billion on those who really need it.
However, the member will also know that in the Income Tax Act even the highest income earners pay the lowest rate of tax on the first $30,000. Therefore, if we were to make any adjustments at the first range of tax levels, it would also benefit all Canadians.
Would the member give consideration to the following proposal? Instead of amending the rates, there would be a special adjustment at the end of the return, so that if one's income was below a certain level and the amount of taxes otherwise owing was less than say $500, the amount payable would have no tax?
It is a way to sense those in our society whose incomes are low for reasons beyond their control. Notwithstanding the tax act, which provides for income even at low levels, it would be appropriate to basically make a blanket exemption for low income earners who do owe taxes.