Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (127623)	7/26/2005 2:48:29 PM
From: John Carragher	Read Replies (1) \| Respond to of 794015

i wonder what toyota will pay in canada taxes vs what they would have paid in states. perhaps the people are taking less wages, paying higher income taxes and health tax for jobs. then again maybe the providence they are building in offered no tax for first several years while our states wouldn't give an inch in cutting tax. it would be very interesting to find out what kind of deal was cut in canada to get a huge toyota plant up there vs here.

To: KLP who wrote (127623)	7/26/2005 4:24:28 PM
From: Alastair McIntosh	Read Replies (2) \| Respond to of 794015

KLP, you are misinformed if you think that at least 52% !!!* of a Canadian's income goes to Federal Taxes.* The top marginal federal tax rate on taxable income is 29% (on taxable income over $113,804). The provincial rate varies somewhat but in Ontario the top marginal provincial rate is 11.16% of taxable income over $66,752. As far as health care I have friends and family who found themselves with "big and serious" medical problems. Not one of them was treated in the U.S. as they all received timely, effective care in Canada. The system can be improved but it has served me and my family well.

To: KLP who wrote (127623)	7/26/2005 5:22:34 PM
From: aladin	Respond to of 794015

Karen, Its actually improved a lot tax wise in Canada from 20 years ago. See the following url to see rates by income: walterharder.ca One thing it doesn't show is the 7% GST on consumption. Combined with Provincial Sales Taxes - the average is about 15% on all purchases. The other item is the lack of mortgage deductability. Without that the average middle income earner is hit a bit harder than this looks. For example: Income: 80,000 Mortgage 10,000 in interest An American is taxed on 70,000, but the Canadian on 80,000 yielding a higher effective marginal rate. But the idea that rates exceed 50% is no longer valid. Use the calculator and you can see a max rate (combined Federal and Provincial) of maybe 44% in one of the smaller Provinces. In the US with Federal/State/Municipal/SocSec&Medicare the combined burden is often higher. However as I stated earlier the effective rate is usually lower because of increased deductions. On health care - Canadians don't really know whats available and most are happy. If we had an HMO providing services at the same level as OHIP (the Ontario plan) it would be investigated by Congress. On the other hand - its inexpensive. Basically there is limited access to specialists and almost no paperwork. Very low overhead. You have no option to go outside of the plan currently - if you need a treatment that OHIP or the Federal authorities consider experimental - you have to go out of country and pay out of pocket. Most employers do provide supplemental insurance for dental, drugs and non-OHIP covered treatments. John