Dion and the Liberals have a lot of explaining to do, and I am going to try to help

I just read this article about what is expected to be part of the federal Liberals’ carbon tax shift proposal.  The Liberal proposal seems to be shaping up to be a pretty strong one in my view.  This article highlights that the Liberals plan to cut 2.5% off of the lowest income tax bracket, and 1% off of the two middle brackets, but nothing off of the highest bracket.  What the article fails to do, and what almost every reporter fails to do, is highlight that a cut to the lowest income tax bracket helps all Canadians.  Even if you make $200,000 per yer, which would put you in the highest income tax bracket of 29%, you do not pay 29% of $200,000.  You only pay the 29% rate on your income above $123,184.  The following helps to illustrate my point

• 15% on the first $37,885 of taxable income, +
• 22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
• 26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
• 29% of taxable income over $123,184

A cut to the lowest income tax rate helps all Canadians, from those making very little, to those making a great deal.  It makes more sense to cut the lowest income tax rate as it has the biggest impact on those most in need of extra dollars in their pocket, while at the same time helping people who make a lot of money.  The media will rarely highlight this point, and the Conservatives will certainly be quick to point out that middle-income Canadians will not be getting the biggest income tax break under the Liberal proposal.  The Liberals will  have to be continually pointing out what I have just attempted to do, which is that a cut to the lowest income tax bracket helps all Canadians, rich and poor.