You’re looking at one tax. If you look at ALL Canadian taxes, income tax, provincial taxes, sales tax, import taxes, fuel taxes, property taxes, health services taxes, business taxes Canadians actually pay about HALF of their gross income in taxes. We are f’n taxed to death in Canada.
Meanwhile, in south Carolina, I pay bring home about 60% of my income, I can’t afford to eat well, I get absolutely zero assistance for food, medical insurance, or God Forbid basic income, and I am genuinely contemplating attempting to live in my vehicle in an abandoned parking lot near my work to save on gas money.
UBI would also be good for the economy, as it stimulates consumerism. To economists, CEOs and politicians, you have to talk about the positive effects on the economy.
This is an untrue statistic often trotted out by the Conservative Frasier Institute. Canadians think we’re taxed far more than we are, because public opinion has been manipulated to believe so. Average Canadian pays about one third of income to taxes - creeping up as you move up taxes brackets
I don’t wish to interrupt a Canadian discussion, but the US is similar - ~20% state and federal taxes, property tax, medical coverage, etc. are all going to be about 30% income, if not more, depending on location. So not unreasonable at face value without going too deep into the particulars of each.
Many middle class Canadian pay 25% or more just in income tax. Then you have to add sales taxes, property taxes, and the rest.
I would say he is about right.
The top income tax bracket is over 50%. If you are very high income, you can pay well over 30% just in income tax (overall).
For anybody that does not understand progressive income tax brackets, a top rate of 50% does not mean you pay 50% on all income. You pay nothing to a certain point, pay a lower percentage up to a certain level, and then it goes up on what you make beyond that level. On the 30,000th dollar you make, you might pay 25 cents tax. On the 200,000th dollar, you might pay 53 cents. On your first dollar, you pay nothing.
25% might be what comes off your pay cheque, sure. That’s not actually how much income tax most people end up paying. How big of a refund did you get this year?
Thankfully BC doesnt do sales tax on food (even at a restaurant) and property tax is super cheap here. Ours is about $1500 on a 600k place.
My tax rate is about 22-26% but with deductions it would be more like 20%, and spouse earns less and other deductions so 13% owing. But even at 20% there is no way another 30% is additional tax
I don’t get your math. Here in BC my property tax is about $1500 on a 2 bedroom condo. Maybe 1-2% of my income. With deductions my tax is about 13% since my wife doesn’t earn a huge amount but even if single it might be 20%, there is no health insurance fee as its baked into taxes. We aren’t paying PST on food. So your claim is my other 15-20% tax means I’m paying 30% tax on everything else I buy?
Assuming this was supposed to reply to my response (you’re just responding directly to the main post FYI).
Canadians actually pay about HALF of their gross income in taxes
I haven’t ever heard a number this big. Where did you get this from, and how does it compare to other countries?
I don’t disagree - we’re taxed more than the US, but that comes with things like single-payer healthcare and higher regulatory enforcement. GST, for example, isn’t something collected in the US meaning they only have the effective PST component of our sales tax, which varies widely by municipality to municipality, but is quite a bit less.
Single-payer meducal systems are objectively less expensive than the US’s ludicrous system. Americans pay the highest per-capita for medical care in the developed world by a huge margin. Technically it’s not taxes, but that’s because it’s directly feeding corporate profits. It’s still effectively mandatory cost of living.
You’re looking at one tax. If you look at ALL Canadian taxes, income tax, provincial taxes, sales tax, import taxes, fuel taxes, property taxes, health services taxes, business taxes Canadians actually pay about HALF of their gross income in taxes. We are f’n taxed to death in Canada.
Bullshit
Meanwhile, in south Carolina, I pay bring home about 60% of my income, I can’t afford to eat well, I get absolutely zero assistance for food, medical insurance, or God Forbid basic income, and I am genuinely contemplating attempting to live in my vehicle in an abandoned parking lot near my work to save on gas money.
UBI would also be good for the economy, as it stimulates consumerism. To economists, CEOs and politicians, you have to talk about the positive effects on the economy.
Indeed, it isn’t like the money paid out for UBI just goes into a black hole. Sure, some will save it. But many will spend it.
This is an untrue statistic often trotted out by the Conservative Frasier Institute. Canadians think we’re taxed far more than we are, because public opinion has been manipulated to believe so. Average Canadian pays about one third of income to taxes - creeping up as you move up taxes brackets
I don’t wish to interrupt a Canadian discussion, but the US is similar - ~20% state and federal taxes, property tax, medical coverage, etc. are all going to be about 30% income, if not more, depending on location. So not unreasonable at face value without going too deep into the particulars of each.
Show your work, please. I’m pretty sure it’s closer to 25-30%.
Many middle class Canadian pay 25% or more just in income tax. Then you have to add sales taxes, property taxes, and the rest.
I would say he is about right.
The top income tax bracket is over 50%. If you are very high income, you can pay well over 30% just in income tax (overall).
For anybody that does not understand progressive income tax brackets, a top rate of 50% does not mean you pay 50% on all income. You pay nothing to a certain point, pay a lower percentage up to a certain level, and then it goes up on what you make beyond that level. On the 30,000th dollar you make, you might pay 25 cents tax. On the 200,000th dollar, you might pay 53 cents. On your first dollar, you pay nothing.
Oh no! Won’t someone think about the highest earners! #clutchpearls
25% might be what comes off your pay cheque, sure. That’s not actually how much income tax most people end up paying. How big of a refund did you get this year?
Thankfully BC doesnt do sales tax on food (even at a restaurant) and property tax is super cheap here. Ours is about $1500 on a 600k place. My tax rate is about 22-26% but with deductions it would be more like 20%, and spouse earns less and other deductions so 13% owing. But even at 20% there is no way another 30% is additional tax
I don’t get your math. Here in BC my property tax is about $1500 on a 2 bedroom condo. Maybe 1-2% of my income. With deductions my tax is about 13% since my wife doesn’t earn a huge amount but even if single it might be 20%, there is no health insurance fee as its baked into taxes. We aren’t paying PST on food. So your claim is my other 15-20% tax means I’m paying 30% tax on everything else I buy?
Assuming this was supposed to reply to my response (you’re just responding directly to the main post FYI).
I haven’t ever heard a number this big. Where did you get this from, and how does it compare to other countries?
I don’t disagree - we’re taxed more than the US, but that comes with things like single-payer healthcare and higher regulatory enforcement. GST, for example, isn’t something collected in the US meaning they only have the effective PST component of our sales tax, which varies widely by municipality to municipality, but is quite a bit less.
Single-payer meducal systems are objectively less expensive than the US’s ludicrous system. Americans pay the highest per-capita for medical care in the developed world by a huge margin. Technically it’s not taxes, but that’s because it’s directly feeding corporate profits. It’s still effectively mandatory cost of living.