During the Great Tax Debate of 2017, fans of realpolitik showed their disregard for wonks by assigning them to the fictional “Economist Party.”
The wonks—academic economists, mostly—invited ridicule because they had the audacity to demand proof when apoplectic entrepreneurs declared that Finance Minister Bill Morneau was bent on destroying capitalism.
Disclosure: if it came down to a choice between, say, Lindsay Tedds, a tax expert at the University of Victoria who is active on social media, or Arlene Dickinson, the Dragons’ Den star who implied the only thing keeping entrepreneurs in Canada was the ability to sprinkle profits among family members, I’m on Team Tedds all the way. But all that is over now. The Economist Party lost. Prime Minister Justin Trudeau and Morneau capitulated, hacking their tax-reform plan to its least controversial core, and adding a promise to drop the small-business tax rate to nine per cent from the current 11 per cent by January 2019.
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