| | | Just like the government. They only want what u can make plus a percentage. That overage is called taxing. It is very taxing. So the formula goes, u make $40,000 in one year, and have $20,000 in deductions. Presumably that means u spent $20,000 already. So the government figures us owe them 2/3's of the remainder in direct taxes on earnings, and the rest they will collect in fines, user fees, licensing, excise, probate, gasoline tax, cigarette tax, sale of booze, (u will be depressed about your financial state so a drinking jag and nervous smoking is often a safe bet), land tax, et al. Too many to list. Did I mention HST? If u spend $30,000 a year on stuff, u already spent $4000 on the government courtesy of HST. And of course the price of it included the corporate taxes and workers tax levels, which we can figure out is pushing 50%. If u travel 20,000 miles a year in Canada, u pay fines, insurance tax, a gas tax, and a licensing tax of about $3000 per annum. Before u even pay income tax, the government has u for about 17.5% of your income. Drink 1 glass of wine a day and in Ontario they make another $600 a year on you. At 22% income tax rate, u actually pay about 42% in tax to the CDN government. Not including excise, land tax, fees and a myriad of other hidden taxes. Of course it is recursive. And they want to get elected by promising to rob the rich and give to the poor voter. How many millennia have slippery promissors & redistributors vowed to the electorate to do this? 65% of the money from sales of services and goods goes to the wage earner, who pays 80% of the tax burden. Corporate and other taxes don't really pay the tax bill in the G7. And 18,000,000 people making less than $50,000 per year far outweigh the scant income from the few executives and high money earners. Even if we identify a group who make $200,000 a year or more, what is their total income? They comprise perhaps 1% of all wage earners. 180,000 people in Canada. And tax is graduated. At the top u pay 46%. RRSP, trusts, educational savings plans, seem fair to all and are limited. Investment as a Tax loss schemes were designed to put people to work, and in the case of flow through, it really worked for many years, bolstering the exploration in this country major. And to the investor it was high risk and only a moderate deduction. Investment income is taxed at a lower rate simply because investment does benefit companies who employee people. Penalize investment and we will really recess, I can guarantee u that.
Mulcair, Obama and other non free enterprisers should do the math. If the top 1% make an average of $275,000 per year, that is $300 billion. Most of them spend it all, making work for people who make stuff and provide services. And they pay tax. If their deductions were 35% then they pay about 80 billion in tax. If they pay ten per cent more, or go into the 51% tax bracket in this country, we raise 8 billion. Over the other 17,220,000 wage earners that is a whopping $464 per person. Over the poor, perhaps 6 million it is an admitted $1200 per indigent. But do they get it? Studies show that for tax dollars spent, the supposed recipients, such as old age, medical care, doctors, drug plan recipients, etc receive less than 10% of the total spent! The rest is administration. U read that right,. admin. In Medicare in Canada Doctors get 10% of the money raised. Government workers get the rest. Tommy Douglas' pork barrel for civil servants. Far more is spent on government workers doling out the cash than is spent on the poor in social assistance schemes. Top heavy is not the word. Criminal is more like it. We don't need to feed that monster any more cash. They idea that they just piss it away on unionized dormant labour pools called the civil service is not just a carping complaint, it is dreadfully true. U don't give an alcoholic more liquor to drink, a chain smoker does not need more cigarettes and heroin addicts true need is not another fix. The best medicine for government is to make them live within their means not below their means as they ask their citizens to do. |
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