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Re: Forum gossip thread by Lokmar

We now work for our familes; tax freedom day was June 10

Started by Anonymous, June 12, 2018, 05:15:12 PM

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Anonymous

It is obscene how we burden ourselves with so many taxes at all levels of government.



This year's annual Tax Freedom Day is like an exercise in treading water. You're both ahead and you're behind.



Here's how.



Every year the Fraser Institute calculates how much of your income goes to taxes. Not just income taxes, but the full tally, including sales taxes, gas taxes, carbon taxes and more.



This year's Tax Freedom Day fell on June 10 — meaning if you paid your taxes entirely up front, all of your working hours until that day would be spent bankrolling the taxman. As a percentage of average income, that means 43.6% of family income is spent on taxes. Nearly half.



June 10 is the same day it was on last year. Does this mean our governments finally smartened up and held the line, declining to raise your taxes for once?



Nope. Not a chance. Taxes on average went up 3.1%. But the Canadian family saw an average income gain of 3.3%.



It's great to hear Canadians are bringing in just a little bit more. The economy did well in 2017 and it's good to hear Canadians on average shared in the spoils.



But government clearly got a whiff of this minor prosperity and reached in to grab it back for themselves. The gains we made were negated by tax increases. We're left treading water. Even when you think you're getting ahead, the government tries to drag you back down under.



Once again Alberta leads the pack as the land of the most tax-free, with their tax freedom date coming in at



May 22. Meanwhile, Newfoundland & Labrador have their taxpayers working overtime until June 26.



It's important for policymakers to think about taxation in the way the Fraser Institute has framed it. Canadians are working almost half the year just to finance government.



Sure, in exchange for some of that money we receive public services we rely on — like primary infrastructure and healthcare. Yet whenever someone proposes a new expense that isn't entirely necessary, whenever a politician advocates some new tax or levy or fee, they need to think about the very real human cost that they're imposing on Canadian families.



Fiscal responsibility and prudent management of the public purse is key to real freedom and a better life for taxpayers.

Anonymous

Just to compare, Australia's tax freedom day for 2017 was April 13..



Here is a look at when tax freedom day falls in some countries around the world.

https://en.wikipedia.org/wiki/Tax_Freedom_Day">https://en.wikipedia.org/wiki/Tax_Freedom_Day

Anonymous

Quote from: "Fashionista"Just to compare, Australia's tax freedom day for 2017 was April 13..



Here is a look at when tax freedom day falls in some countries around the world.

https://en.wikipedia.org/wiki/Tax_Freedom_Day">https://en.wikipedia.org/wiki/Tax_Freedom_Day

The left likes to say many countries with lower taxes than Canada. They only compare federal income tax rates. They don't include provincial and municipal taxes or things like payroll taxes, excise taxes and of course government fees. This country is taxed to death.

Angry White Male

The only advantage that Canada has, is the corporate income tax rate.  It is quite low compared to most other First World nations.

Anonymous

Quote from: "Angry White Male"The only advantage that Canada has, is the corporate income tax rate.  It is quite low compared to most other First World nations.

There too we have double dipping. When you combine the federal and provincial corporate tax rates there are lots of countries with lower rates than us. We are giving our competitors an advantage.

Anonymous

Wages in Canada just can't keep up with the ever increasing tax bite.

Angry White Male

Quote from: "Fashionista"Wages in Canada just can't keep up with the ever increasing tax bite.

This is a problem.  Wages have stagnated for many.



Stagnant wages are fine when the cost of living remains stagnant, but we can easily see that this hasn't...  The cost of fuel, the cost of housing, this has stayed far from stagnant...

Anonymous

Quote from: "Angry White Male"
Quote from: "Fashionista"Wages in Canada just can't keep up with the ever increasing tax bite.

This is a problem.  Wages have stagnated for many.



Stagnant wages are fine when the cost of living remains stagnant, but we can easily see that this hasn't...  The cost of fuel, the cost of housing, this has stayed far from stagnant...

Wages aren't stagnant. They just have a hard time keeping up with tax increases.

Angry White Male

#8
Wages are stagnant.



Here, for instance, the going rates that I can charge customers have not gone up in three+ years.



Some guys I know that employ people, have given them a slight wage increase as good measure, but I can assure you at these slim profit margins, it is difficult.



This means that they are running their business at a greater loss every year.



Wages, and even rates that I can charge as a business owner, have certainly become stagnant.  



This may be limited more to my geographical area, as there is a huge influx of immigrants here that I'm competing with.  Talk about having to be smart with every dollar spent competing against them, as some appear happy to work for nothing...   :mad:

Anonymous

Quote from: "Shen Li"
Quote from: "Angry White Male"
Quote from: "Fashionista"Wages in Canada just can't keep up with the ever increasing tax bite.

This is a problem.  Wages have stagnated for many.



Stagnant wages are fine when the cost of living remains stagnant, but we can easily see that this hasn't...  The cost of fuel, the cost of housing, this has stayed far from stagnant...

Wages aren't stagnant. They just have a hard time keeping up with tax increases.

I read that in Seoul's op.

Anonymous

Quote from: "Shen Li"
Quote from: "Angry White Male"
Quote from: "Fashionista"Wages in Canada just can't keep up with the ever increasing tax bite.

This is a problem.  Wages have stagnated for many.



Stagnant wages are fine when the cost of living remains stagnant, but we can easily see that this hasn't...  The cost of fuel, the cost of housing, this has stayed far from stagnant...

Wages aren't stagnant. They just have a hard time keeping up with tax increases.

When Canadians spend more on taxes than they do food, rent and shelter, governments in this country are too greedy.

Wazzzup

The US is in late April or early May.  But that says it is income tax so-- I don't believe that includes, sales taxes, property taxes, gas taxes, state taxes (?), license fees, entertainment taxes, liquor and cigarette taxes, and all the other way government gouges us all.



I could see government taking 1/4.  But half? that's just effing :crazy:

Anonymous

Quote from: "Wazzzup"The US is in late April or early May.  But that says it is income tax so-- I don't believe that includes, sales taxes, property taxes, gas taxes, state taxes (?), license fees, entertainment taxes, liquor and cigarette taxes, and all the other way government gouges us all.



I could see government taking 1/4.  But half? that's just effing :crazy:

It takes  away from things we could be doing for our family.

Anonymous

Quote from: "Fashionista"
Quote from: "Wazzzup"The US is in late April or early May.  But that says it is income tax so-- I don't believe that includes, sales taxes, property taxes, gas taxes, state taxes (?), license fees, entertainment taxes, liquor and cigarette taxes, and all the other way government gouges us all.



I could see government taking 1/4.  But half? that's just effing :crazy:

It takes away from things we could be doing for our family.

Too bad. Your money is needed by provincial and federal governments to buy labor peace in the civil service.