The folly of federal income tax increases

[Berry Sweet]

Its a child custody case I was in.  Its not over yet.  But I am at the end of my rope with the entire scene and old, out of date and checked out of reality judges.  It takes years to become the person I now am.  No one will fuck me anymore.  My kid is lucky to have me.

[Thiel]

Its a child custody case I was in.  Its not over yet.  But I am at the end of my rope with the entire scene and old, out of date and checked out of reality judges.  It takes years to become the person I now am.  No one will fuck me anymore.  My kid is lucky to have me.

My apologies. I didn't  know.

[Anonymous]

Its a child custody case I was in.  Its not over yet.  But I am at the end of my rope with the entire scene and old, out of date and checked out of reality judges.  It takes years to become the person I now am.  No one will fuck me anymore.  My kid is lucky to have me.

My apologies. I didn't  know.

Ditto that. Sorry Berry.

[Anonymous]

Besides deliberately kneecapping our natural resource sector, Trudeau is confiscating more of Canadians' money than his predecessor.



By Jake Fuss and Finn Poschmann are analysts at the Fraser Institute.



Family tax bill — and anxiety — rising





A recent CBC News poll reported that the cost of living is one of the biggest worries for all Canadians.



And, yes, while trend inflation has been very low for a decade, it's ticking up sharply.



So although it's easy to understand why Canadians are anxious about the rising cost of basic necessities, the growing tax bill for families might be even more concerning.



According to the poll, the cost of living was the No. 1 concern for approximately one-third (32%) of all Canadians surveyed.



Most respondents claimed the price of basic needs such as food, electricity and housing were the main sources of apprehension.



In 2017, for example, the average Canadian family spent $17,856 on housing, $9,121 on food and $3,620 on clothing.



Put differently, basic necessities cost the average family $30,597 or 35.6% of their annual income.



Moreover, since 1961 average expenditures on food, shelter and clothing have grown in nominal terms by about 1,000%!



Given these numbers, the anxiety felt by many families is understandable.



What's as bad or worse for us, though, is that the growth in the tax bill for families has also come at an astonishing pace, and apparently flown under the radar in recent years.



[size=150]Taxes have increased much faster than basic necessities.[/size]



Specifically,[size=150] in 2017 the average family paid $37,058 or 43.1% of their income in taxes.



For context, the average Canadian family paid 33.5% of its income on taxes back in 1961.[/size]



Since then, total taxes have for the average family increased by 2,112% including inflation, which is double the increase in basic necessities over that time.



This means[size=150] the average Canadian family now pays more of its income on taxes than it spends on basic necessities including food, housing and clothing.[/size]



The tax bill for Canadian families is nearly $6,500 higher than the average expenditure on basic necessities.



Things get more troubling. [size=150]Despite promising to reduce taxes for middle-class Canadian families, since coming into office, the Trudeau government has increased the tax burden for 81% of middle-income families (with household incomes between $77,089 and $107,624).[/size]



On average, and [size=150]allowing for the middle-class rate-cut centrepiece of the Trudeau plan, the targeted families now pay $840 more in taxes than four years ago.[/size]



This increase in taxes is primarily due to the removal of several tax credits families previously claimed for income splitting, public transit and children's fitness among others.



The bottom line?



The total tax bill for Canadian families has increased much more rapidly than any other single expenditure.



Now, after adding up all the taxes paid and expenditures on basic necessities for the average Canadian family, that doesn't leave much for saving, registering children for sports, buying a vehicle, paying for gas and every other family expense.



No surprise then that the rising cost of living is a source of anxiety for all Canadians.



And it's important to remember that the tax bill for families is increasing at an even faster pace.



Worried anxious people are not happy people, and that might be what CBC'S poll may reveal.

[Anonymous]

I've noticed everything is a little cheaper since the new provincial government repealed the NDP's carbon tax..



Trudeau has promised to force it back on us January 1.