Mr. Speaker, the member has laid out some ideas for Canadians to think about.
I am very concerned that there has not been full transparency in terms of the impact of the $1,200. For instance, a $20,000 income earner getting the $1,200 actually on a net basis will only benefit about $200 because $1,000 of the $1,200 will be either clawed back or charged as additional income taxes. Consider someone earning $40,000. It increases to $700, but when filing his or her tax return the person will still have to pay $500 because the $1,200 is taxable. Someone who makes $100,000 actually gets a benefit of $1,100 out of the $1,200 that is being paid for the year. That person's increased taxes are only $100. These facts are from the Caledon Institute, and the member well knows that.
I wonder if the member would agree that maybe we should be very careful to alert parents of children under age six that the amount is taxable and that other benefits may be clawed back or income taxes will increase. Because there is no withholding when the payments are made, they will have to pay some money back when they file their income tax returns.