William Watson: My favourite finance minister of them all

Last week the Fraser Institute published a short book about the income tax, then and now, edited by Fraser executive vice-president Jason Clemens and myself. It’s called The History and Development of Canada’s Personal Income Tax: Zero to 50 in 100 Years, which makes it sound like a great, thick brick though in fact it’s 10 short essays on various aspects of the origins and current status of Canada’s PIT, which turns 100 this year.The “zero to 50” bit refers to the fact that 100 years ago income tax accounted for zero per cent of federal revenues but now it

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