Finance Minister Bill Morneau wants to close loopholes that allow highly paid professionals to reduce their taxes by incorporating and then using various small business tax breaks to shelter their income. These loopholes are legal but unfair. They amount to potentially more than $1 billion annually in lost revenues to the government. That money could be used toward pharmacare, affordable housing or building green infrastructure. Morneau argues that he wants to create an improved tax system but some of the reaction has been hysterical. Continue reading Business lobby hysterical on Bill Morneau’s tax reforms