Instead of increasing taxes, he's eliminating credits, which has the same effect of taking more money from peoples pockets at a time where people are running high debt and their wages are stagnant. And NO, he will not take it from the top 1% to 4% because there isn't enough for them to warrant the change, so he will be taking from the middle class where the majority of the people are and where most of the spending is.

Maybe Mr. Morneau aught to start looking at the 100s of tax credit that corporations enjoy, over and above low tax rates and write offs to every single possible expense on the planet. Taxes from Corporations are at their lowest level in history, and this is what is causing the revenue shortfall.