Taxation levels are very complicated for Canadian citizens. I believe Canada will liberate itself economically when tax levels become less burdensome. Government regulation hits our pockets as hard as taxes, but there is little information available about its costs. At a time when deficit spending is unpopular and there is little appetite for tax increases, this lack of accountability makes regulation an attractive way for governments to achieve their goals without increasing spending. Between 1975 and 1999, more than 117,000 new federal and provincial regulations were enacted, an average of 4,700 each year. Over this twenty-four year period, federal and provincial governments published over 505,000 pages of regulations contained in volumes that measure 10 stories when stacked. The cost of complying with government regulations was approximately $103 billion in 1997. The cost of regulatory compliance is borne largely by consumers as businesses pass on much of the cost of regulatory compliance through rising prices of goods and services. In 1997, compliance cost individual Canadians approximately $13,700 per family of four. The intrinsic cost of regulatory compliance exceeds spending on every item except housing in Canadian household budgets after taxes. One consequence of regulation not captured by measuring its direct cost (administration and compliance) is the severe limits it can impose on people's freedom to act. make your own choices based on your individual circumstances and risk tolerance. Government regulation also dampens innovation, delays product development, stifles entrepreneurship, limits competition, and slows productivity growth. For example, today, taxes are im...... middle of paper ... otle's economic theory suggests that the rights and liberties of individuals should take priority over the needs of the state in all but a few situations. This is known as the notion of individualism. He argued that an individual's property should take priority over state property for the economic well-being of the state. Proponents argue that an individual should have freedom regarding economic and political endeavors. In conclusion, I am a supporter of Aristotle's economic theory because I believe in individualism. I believe Canada will liberate itself economically if tax levels were to become less burdensome. In Canada, our systems are continually being undermined. Canada is one of the most regulated and over-governed nations on the face of the earth. The amount of regulations in Canada is enormous. When people are forced to die, they cannot be considered a free people.