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To: Guy Gordon who wrote (6861)2/28/2000 6:32:00 PM
From: JayPC  Read Replies (2) | Respond to of 24042
 
Must be nice having a gov'mt that encourages you to save & invest by letting you keep a whole 1/4 of what you earn.

Its not quite that bad, though sometimes it feels like it..

If I make $10000 profit on sale of a stock, I paid taxes on 75% of it. So i pay approximately 50% of 7500 in tax (or $3750). Under the new rules I pay on 66.6% or %6660 (or a total tax bill of 3300). So the new rules save me $450.

Its amazing how taxed we are that I feel good that the government is letting me keep approximately 1% (in the overall budget) more of my income (by the year 2004)

Regards
Jay



To: Guy Gordon who wrote (6861)2/28/2000 7:57:00 PM
From: MileHigh  Read Replies (2) | Respond to of 24042
 
LOL! I despise socialism and its high minded idea of doing what is right for me!

No disrespect to Canadians, nor did I mean to leave anyone else out, I despise them all!

MileHigh



To: Guy Gordon who wrote (6861)2/28/2000 8:03:00 PM
From: fishweed  Respond to of 24042
 
Top tax bracket would be 50% of 66.6% = 33.3% that you'd pay of your total capital gains if you were in the top tax bracket........and that I believe is now $85k.......up from $65k


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