Mr. Speaker, earlier this week Canadians filed their 2012 income tax returns. April 30 is the date that Canadians contemplate their tax obligations.
According to the Fraser Institute, a family earning over $74,000 will pay over $9,000 in income taxes in 2012. However, that represents less than one-third of that family's total tax obligations. When payroll taxes, consumption taxes, property taxes, capital gains taxes and import duties are added, suddenly that family's total tax bill is 43% of its budget. If we compare that to only 37% of the family budget going to food, shelter and clothing, it puts tax obligations into sobering perspective.
Moreover, as deficits represent deferred tax obligations, one's tax bill is even higher.
The knowledge that over 45% of family income goes to one level of government or another allows taxpayers to assess if they are receiving value for money and hold government to account for the taxes it collects.
Only a concerted effort to reduce government spending at all levels of government will return Canadian tax burdens to more appropriate levels.