Canada's richest one per cent of tax return filers saw their share of the country's total income remain the same in 2013 and their average total income grow by the same amount as everyone else's.
Statistics Canada reported Tuesday that the top one per cent of tax filers received 10.3 per cent of the nation's total income in 2013, the same amount as the previous year.
To be considered in the top one per cent of tax filers, a worker had to earn $222,000 in 2013. That group included 264,030 people across the country.
To be included in the top five per cent, the income cutoff was $115,700, while to be in the top 10 per cent required $89,200.
The average income for a member of Canada's one per cent was $454,800 — an increase of $5,600 compared to the previous year.
The average one percenter paid $151,900 in income taxes that year, an increase of $3,000.
The top one per cent of tax filers paid 20.3 per cent of federal and provincial/territorial income taxes in 2013, unchanged from the previous year.
Women made up 21.9 of Canada's top one per cent of tax filers in 2013, a percentage that has increased for 20 consecutive years.
Across the country:
■Ontario had the most members of the one per cent at 41.2 per cent of the total, or 108,830 people.
■Alberta was next at 23.6 per cent.
■Quebec had 15.5 per cent.
■British Columbia was at 11.3 per cent.
Quote from: "Herman"
Statistics Canada reported Tuesday that the top one per cent of tax filers received 10.3 per cent of the nation's total income in 2013, the same amount as the previous year.
To be considered in the top one per cent of tax filers, a worker had to earn $222,000 in 2013. That group included 264,030 people across the country.
To be included in the top five per cent, the income cutoff was $115,700, while to be in the top 10 per cent required $89,200.
The average income for a member of Canada's one per cent was $454,800 — an increase of $5,600 compared to the previous year.
The average one percenter paid $151,900 in income taxes that year, an increase of $3,000.
The top one per cent of tax filers paid 20.3 per cent of federal and provincial/territorial income taxes in 2013, unchanged from the previous year.
Women made up 21.9 of Canada's top one per cent of tax filers in 2013, a percentage that has increased for 20 consecutive years.
Across the country:
■Ontario had the most members of the one per cent at 41.2 per cent of the total, or 108,830 people.
■Alberta was next at 23.6 per cent.
■Quebec had 15.5 per cent.
■British Columbia was at 11.3 per cent.
Is that federal and provincial income taxes combined Herman?
Quote from: "Fashionista"
Quote from: "Herman"
Statistics Canada reported Tuesday that the top one per cent of tax filers received 10.3 per cent of the nation's total income in 2013, the same amount as the previous year.
To be considered in the top one per cent of tax filers, a worker had to earn $222,000 in 2013. That group included 264,030 people across the country.
To be included in the top five per cent, the income cutoff was $115,700, while to be in the top 10 per cent required $89,200.
The average income for a member of Canada's one per cent was $454,800 — an increase of $5,600 compared to the previous year.
The average one percenter paid $151,900 in income taxes that year, an increase of $3,000.
The top one per cent of tax filers paid 20.3 per cent of federal and provincial/territorial income taxes in 2013, unchanged from the previous year.
Women made up 21.9 of Canada's top one per cent of tax filers in 2013, a percentage that has increased for 20 consecutive years.
Across the country:
■Ontario had the most members of the one per cent at 41.2 per cent of the total, or 108,830 people.
■Alberta was next at 23.6 per cent.
■Quebec had 15.5 per cent.
■British Columbia was at 11.3 per cent.
Is that federal and provincial income taxes combined Herman?
That's a good question. I think it is federal.
Quote from: "Herman"
To be considered in the top one per cent of tax filers, a worker had to earn $222,000 in 2013. That group included 264,030 people across the country.
To be included in the top five per cent, the income cutoff was $115,700, while to be in the top 10 per cent required $89,200.
The average income for a member of Canada's one per cent was $454,800 — an increase of $5,600 compared to the previous year.
The average one percenter paid $151,900 in income taxes that year, an increase of $3,000.
The top one per cent of tax filers paid 20.3 per cent of federal and provincial/territorial income taxes in 2013, unchanged from the previous year.
Women made up 21.9 of Canada's top one per cent of tax filers in 2013, a percentage that has increased for 20 consecutive years.
Across the country:
■Ontario had the most members of the one per cent at 41.2 per cent of the total, or 108,830 people.
■Alberta was next at 23.6 per cent.
■Quebec had 15.5 per cent.
■British Columbia was at 11.3 per cent.
So much for the tired old leftist BS line about the successful not paying their "fair share". They are paying for everyone else.
Quote from: "Shen Li"
Quote from: "Herman"
To be considered in the top one per cent of tax filers, a worker had to earn $222,000 in 2013. That group included 264,030 people across the country.
To be included in the top five per cent, the income cutoff was $115,700, while to be in the top 10 per cent required $89,200.
The average income for a member of Canada's one per cent was $454,800 — an increase of $5,600 compared to the previous year.
The average one percenter paid $151,900 in income taxes that year, an increase of $3,000.
The top one per cent of tax filers paid 20.3 per cent of federal and provincial/territorial income taxes in 2013, unchanged from the previous year.
Women made up 21.9 of Canada's top one per cent of tax filers in 2013, a percentage that has increased for 20 consecutive years.
Across the country:
■Ontario had the most members of the one per cent at 41.2 per cent of the total, or 108,830 people.
■Alberta was next at 23.6 per cent.
■Quebec had 15.5 per cent.
■British Columbia was at 11.3 per cent.
So much for the tired old leftist BS line about the successful not paying their "fair share". They are paying for everyone else.
The new Alberta government raised our income tax by 20% because they think we are
:001_rolleyes:
They are out of touch with working Albertans.
^
[attachment=0]12079094_10154198739538765_5667879658581286078_n - Copy.jpg[/attachment]
Quote from: "Shen Li"
[attachment=0]12079094_10154198739538765_5667879658581286078_n - Copy.jpg[/attachment]
This is turning into a politics thread..
But, I agree that as Albertans are having wages cuts, hours cut or laid off, we in the public service are not being asked to share the pain..
That is not fair to Albertans.
She has raised PERSONAL income tax by 20%?
Quote from: "RW"
Depending on how much you make it can be much more than that. Anyway, I better stop. I can feel a rant coming on.
Quote from: "Shen Li"
Quote from: "RW"
Depending on how much you make it can be much more than that. Anyway, I better stop. I can feel a rant coming on.
This is the place to rant!
Do you mean she raised it TO 20% or BY 20%?
Quote from: "RW"
Quote from: "Shen Li"
Quote from: "RW"
Depending on how much you make it can be much more than that. Anyway, I better stop. I can feel a rant coming on.
This is the place to rant!
Do you mean she raised it TO 20% or BY 20%?
We had a flat tax of 10% with the highest personal exemption in Canada. We now have 5 different "progressive" tax rates that go all the way to 15%. Low income earner still pay 10%, but middle class and up pay more for the privilege of these inept baristas killing our good paying jobs and giving us record deficits. In 4 years, I'd be surprised if 10 dippers are re-elected.
Oh so it's up by a max of 5% by the look of things.
Hey Shen, welcome to how the rest of us do things.
Quote from: "RW"
Hey Shen, welcome to how the rest of us do things.
Times four and that is how my family is being charged more for the privilege of Rachel Notley's government.
ac_unsure
20% total?
Quote from: "RW"
Twenty percent more..
This is on top of all the other new charges and fees we must pay for the privilege of having Rachel Notley as our premier.
:001_rolleyes:
Quote from: "Fashionista"
Quote from: "RW"
Hey Shen, welcome to how the rest of us do things.
Times four and that is how my family is being charged more for the privilege of Rachel Notley's government.
ac_unsure
Well if that's the case, why didn't you vote for a party which could advance your financial well-being?
You said somewhere in another thread that you don't vote in elections because of your faith.
Quote from: "Fashionista"
Quote from: "RW"
Twenty percent more..
This is on top of all the other new charges and fees we must pay for the privilege of having Rachel Notley as our premier.
:001_rolleyes:
Have you signed the petition to recall Nothead's government yet?
Quote from: "Fashionista"
Quote from: "RW"
Twenty percent more..
This is on top of all the other new charges and fees we must pay for the privilege of having Rachel Notley as our premier.
:001_rolleyes:
Okay...
But according to what I am reading, it's not 20% in addition to the 10% you already pay...
$125,001 – $150,000 = 10.5%(2015) 12%(2016)
$150,001 – $200,000 = 10.75%(2015) 13%(2016)
$200,001 – $300,000 = 11%(2015) 14%(2016)
>$300,000 = 11.25%(2015) 15%(2016)
http://www.pwc.com/ca/en/services/tax/budgets/2015/alberta-hikes-personal-corporate-taxes.html
At the most, there is an increase of 5% when you are over $300,00 in 2016 so I have no idea WTF you guys are talking about.
:confused1:
Quote from: "RW"
Quote from: "Fashionista"
Quote from: "RW"
Twenty percent more..
This is on top of all the other new charges and fees we must pay for the privilege of having Rachel Notley as our premier.
:001_rolleyes:
Okay...
But according to what I am reading, it's not 20% in addition to the 10% you already pay...
$125,001 – $150,000 = 10.5%(2015) 12%(2016)
$150,001 – $200,000 = 10.75%(2015) 13%(2016)
$200,001 – $300,000 = 11%(2015) 14%(2016)
>$300,000 = 11.25%(2015) 15%(2016)
http://www.pwc.com/ca/en/services/tax/budgets/2015/alberta-hikes-personal-corporate-taxes.html
At the most, there is an increase of 5% when you are over $300,00 in 2016 so I have no idea WTF you guys are talking about.
:confused1:
Those numbers are wrong. We had a flat rate of 10% before Nothead. People making over $125K had there taxes raised 20%. They now pay 12%. I had my taxes raised 30% because I make over $200k.
Quote from: "Shen Li"
Quote from: "RW"
Quote from: "Fashionista"
Quote from: "RW"
Twenty percent more..
This is on top of all the other new charges and fees we must pay for the privilege of having Rachel Notley as our premier.
:001_rolleyes:
Okay...
But according to what I am reading, it's not 20% in addition to the 10% you already pay...
$125,001 – $150,000 = 10.5%(2015) 12%(2016)
$150,001 – $200,000 = 10.75%(2015) 13%(2016)
$200,001 – $300,000 = 11%(2015) 14%(2016)
>$300,000 = 11.25%(2015) 15%(2016)
http://www.pwc.com/ca/en/services/tax/budgets/2015/alberta-hikes-personal-corporate-taxes.html
At the most, there is an increase of 5% when you are over $300,00 in 2016 so I have no idea WTF you guys are talking about.
:confused1:
Those numbers are wrong. We had a flat rate of 10% before Nothead. People making over $125K had there taxes raised 20%. They now pay 12%. I had my taxes raised 30% because I make over $200k.
Do you have a link or something supporting your claim because I can't find anything that says that.
Alberta's flat tax officially dies October 1
http://www.pressreader.com/canada/edmonton-journal/20150619/281487864986318/TextView
Quote from: "Shen Li"
http://www.pressreader.com/canada/edmonton-journal/20150619/281487864986318/TextView
This article doesn't support your claim.
Are you sure you aren't doing the whole "sky is falling" shitck Shen?
^Well if you think raising income taxes on the middle class by a minimum of 20 percent is good for anyone then you are out of touch with middle class like Fash.
The Alberta advantage was killed off by a bunch of inept social workers and baristas. They will be lucky to wi 10 seats in the next election.
Quote
On July 1, Alberta's corporate tax will go from lowest in the country to middle-of-the-pack, increasing to 12 per cent from 10. Three months later, the 10-per-cent flat tax on personal incomes will be replaced by five new tax brackets. The rate paid by the wealthiest Albertans will increase by 50 per cent, with the top tax rate increasing to 15 per cent from 10 per cent for those making more than $300,000.
http://www.theglobeandmail.com/news/alberta/ndp-tax-hikes-will-spell-the-end-of-traditional-alberta-advantage/article25048010/
Yes, that is exactly what I wrote in my previous post. Those making $300,000 or more will go from 10% to 15% in 2016.
I can't find anything that supports this 50% increase claim but I will keep looking.
You, making over $200,000 a year will not be paying 20% MORE in personal income tax. It's more like 1% for this year and 4% next year.
Sorry, but as much as you hate the NDP in Alberta, the claim you are making is bullshit my dear.
Quote from: "RW"
I can't find anything that supports this 50% increase claim but I will keep looking.
You, making over $200,000 a year will not be paying 20% MORE in personal income tax. It's more like 1% for this year and 4% next year.
Sorry, but as much as you hate the NDP in Alberta, the claim you are making is bullshit my dear.
I said they increased income taxes by a minimum of 20 percent. The increases were not gradual either. They took the full hammer to us. Fash's old man is paying 20 percent more. I am paying 40 percent more. Why on earth would they increase taxes in a recession. This is the most inept, ideologically driven pack of nincompoops I have ever seen elected since we have been in Canada. It makes me sick that I am being charged an additional $8500/year by these morons.
Quote from: "Shen Li"
Quote from: "RW"
I can't find anything that supports this 50% increase claim but I will keep looking.
You, making over $200,000 a year will not be paying 20% MORE in personal income tax. It's more like 1% for this year and 4% next year.
Sorry, but as much as you hate the NDP in Alberta, the claim you are making is bullshit my dear.
I said they increased income taxes by a minimum of 20 percent. The increases were not gradual either. They took the full hammer to us. Fash's old man is paying 20 percent more. I am paying 40 percent more. Why on earth would they increase taxes in a recession. This is the most inept, ideologically driven pack of nincompoops I have ever seen elected since we have been in Canada. It makes me sick that I am being charged an additional $8500/year by these morons.
I know what you said. I know it was echoed by Fash. The problem is, I cannot find one document that supports your claim of an additional 20% to personal income tax rates in Alberta. I find something that has very different numbers which has been echoed in everything I've read:
$125,001 – $150,000 = 10.5%(2015) 12%(2016)
$150,001 – $200,000 = 10.75%(2015) 13%(2016)
$200,001 – $300,000 = 11%(2015) 14%(2016)
>$300,000 = 11.25%(2015) 15%(2016)
For you to pay an extra $8500/year on $200,000 is a 4% increase not 20%, which again, supports the numbers above.
Now I don't know WTF you and Fash do for a living, but in my world we use math that follows set formulas and rules. Yours doesn't add up to even close to a 20% increase.
So I'm going to have to say, keep calm Henny Penny. Your sky isn't falling. It's just turning the same colour as the rest of ours.
Didn't the PC government plan to scrap the flat tax before they were defeated? But, the NDP went overboard with the increases. I can see raising it by up to 1% on high income earners or a ten percent increase, but 20-50% increases? That amounts to confiscation.
The thing is 20%-50% is absolute BULLSHIT!
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Quote from: "Frank"
Quote from: "Fashionista"
Quote from: "RW"
Hey Shen, welcome to how the rest of us do things.
Times four and that is how my family is being charged more for the privilege of Rachel Notley's government.
ac_unsure
Well if that's the case, why didn't you vote for a party which could advance your financial well-being?
You said somewhere in another thread that you don't vote in elections because of your faith.
I place my faith in a higher power than politicians.
My husband is paying about $100 more per paycheque in taxes since Rachel Notley raised our taxes..
That's about $2600 per year that we are giving to the NDP government instead of spending on our family.
The average doctor makes about $350, 000 in Alberta. That means they will have to shell out an additional $17,500 a year in additional income taxes. It doesn't end there either. The federal government is going to raise taxes on people earning over $200, 000 per year.
Quote from: "seoulbro"
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Of fuuuuuckkkk. What a bunch of bullshit. It's a 1-5% increase.
Quote from: "RW"
Quote from: "seoulbro"
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Of fuuuuuckkkk. What a bunch of bullshit. It's a 1-5% increase.
It's a pretty big increase. And it's 2-5%. The Albertans who post here are paying thousands of dollars more. This is on top of higher carbon taxes, higher corporate taxes, higher railway taxes, higher sin taxes, and increases to most user fees. Our premier, Brad Wall doesn't mind though. Saskatchewan is sill open for business.
Quote from: "RW"
Quote from: "seoulbro"
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Of fuuuuuckkkk. What a bunch of bullshit. It's a 1-5% increase.
Whether one wants to call it a 20% increase or a 2% increase, what is indisputable is my husband is being charged an additional $2600 per year..
We are hardly rich either, but then again this government is so out of touch with working Albertans.
If you saw an increase that says your husband is making over $150,000/year.
Here in BC, we have a higher tax rate for making less. We also pay provincial sales tax.
You Albertans have been and are still tax spoiled.
Quote from: "Herman"
Quote from: "RW"
Quote from: "seoulbro"
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Of fuuuuuckkkk. What a bunch of bullshit. It's a 1-5% increase.
It's a pretty big increase. And it's 2-5%. The Albertans who post here are paying thousands of dollars more. This is on top of higher carbon taxes, higher corporate taxes, higher railway taxes, higher sin taxes, and increases to most user fees. Our premier, Brad Wall doesn't mind though. Saskatchewan is sill open for business.
Whaaaa whaaaa whaaaaa! We've been paying more in BC for ages with sales tax on top of it all.
I have no sympathy for y'all.
Quote from: "RW"
Here in BC, we have a higher tax rate for making less. We also pay provincial sales tax.
You Albertans have been and are still tax spoiled.
The 20% increase starts at $125k not $150. It's basically a tax on the cities of Fort McMurray and Grande Prairie. However if you think charging us an additional $8k/annum is peanuts, then Nothead can just as easily give us a similar cut starting from the point taxes were before the dipper confiscation.
It would seem nobody in the Alberta government caucus is familiar with economics 101. You never raise taxes in the middle of a recession. They raised a bunch of taxes only to deepen the pain. It seems they want to keep going with enviro fees and charges too.
Are those who still have jobs really "feeling the pain"?
Quote from: "Fashionista"
Quote from: "RW"
Quote from: "seoulbro"
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Of fuuuuuckkkk. What a bunch of bullshit. It's a 1-5% increase.
Whether one wants to call it a 20% increase or a 2% increase, what is indisputable is my husband is being charged an additional $2600 per year..
We are hardly rich either, but then again this government is so out of touch with working Albertans.
When we had the NDP in power they were not as punitive as the Notley brand. They did not support our resource industries and they did not build our infrastructure, but they weren't robbing us blind like the Alberta NDP. Alberta use to be the place where Saskatchewan talent ran to escape NDP destruction. Now we have the best premier in Canada and you guys have a female version of that NDP fool Selinger.
Quote from: "Herman"
Quote from: "Fashionista"
Quote from: "RW"
Quote from: "seoulbro"
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Of fuuuuuckkkk. What a bunch of bullshit. It's a 1-5% increase.
Whether one wants to call it a 20% increase or a 2% increase, what is indisputable is my husband is being charged an additional $2600 per year..
We are hardly rich either, but then again this government is so out of touch with working Albertans.
When we had the NDP in power they were not as punitive as the Notley brand. They did not support our resource industries and they did not build our infrastructure, but they weren't robbing us blind like the Alberta NDP. Alberta use to be the place where Saskatchewan talent ran to escape NDP destruction. Now we have the best premier in Canada and you guys have a female version of that NDP fool Selinger.
A 1-5% income tax increase on those making over $100k a year is robbing them blind?
You prairie dwellers really need to get some perspective haha
Quote from: "RW"
Quote from: "Herman"
Quote from: "Fashionista"
Quote from: "RW"
Quote from: "seoulbro"
Quote from: "RW"
I can't believe people are actually buying into that crap.
And yes, the PC had plans to raise personal taxes.
Last time I checked 15 is 50% more than 10. What I can't believe is people voted for a party that promised to raise their taxes. Then again we elected a majority government at the federal level that promised to run deficits. :crazy:
Of fuuuuuckkkk. What a bunch of bullshit. It's a 1-5% increase.
Whether one wants to call it a 20% increase or a 2% increase, what is indisputable is my husband is being charged an additional $2600 per year..
We are hardly rich either, but then again this government is so out of touch with working Albertans.
When we had the NDP in power they were not as punitive as the Notley brand. They did not support our resource industries and they did not build our infrastructure, but they weren't robbing us blind like the Alberta NDP. Alberta use to be the place where Saskatchewan talent ran to escape NDP destruction. Now we have the best premier in Canada and you guys have a female version of that NDP fool Selinger.
A 1-5% income tax increase on those making over $100k a year is robbing them blind?
You prairie dwellers really need to get some perspective haha
Aren't you generous with Fash and Shen Li's money. They need those thousands of dollars a lot more than Notley does.
I'm not taking their money but you talk as if it is going to Notley herself. That's disingenuous.
As I said, my household pays a higher tax rate making less than both of them.
You guys are resource spoiled and now that the resource sector has taken a hit (not really the fault of government in Alberta's case), the money has to come from somewhere.
I have worked on many wells in Alberta. It's not a cheap place to live. Notley has deliberately made it more expensive for upper middle class families. I still say those thousands of bucks are better off with the families that made them rather than a greedy government that takes them. Our provincial NDP is distancing themselves from her greed.
It's not the government's fault Alberta is an expensive place to live. That seems to happen when people who live in an area have a lot of money. People want to capitalize on their wealth and make things more pricey. The "greedy" government isn't the one making your cost of living high.
Notley has had enough sense to not further burden the actual middle class which she could have by implementing provincial sales tax like the rest of us who don't live in the northern territories pay.
No one likes paying taxes Herman but Albertans pay
Saskatchewan 5 %
British Columbia 7%
Manitoba 8%
New Brunswick 8%
Newfoundland and Labrador 8%
Ontario 8%
Prince Edward Island 9%
Quebec 9.975%
Nova Scotia 10%
ON 12.16%
NFLD 13.3%
SASK 15%
PEI 16.7%
BC 16.8%
MB 17.4%
NB 17.84%
NS 21%*
QC 25.75%
That figure is wrong RW. Under Bill 2 passed by Nothead's government income between $125,000 and $150,000 will be taxed 12 per cent; between $150,000 and $200,000 that number will be 13 per cent.
From $200,000 and $300,000 14 per cent will be taxed and income over $300,000 will be taxed at a rate of 15 per cent.
http://www.edmontonsun.com/2015/06/18/personal-business-tax-increases-tabled-in-alberta-legislature
That's fine though. The Alberta advantage Ralph Klein created was overrated anyway. Besides, Nothead's band of baristas know how to spend my money better than I do. :001_rolleyes:
For 2015, the tax rate for $150,000 is 10.75% then it goes to 11% then to 11.25% as income increases. I already posted the tables TWICE.
You're still lower than every other province except the territories.
My point is that Albertans bitching about their taxes being too high is fucking laughable.
My combined federal and provincial rate jumps to 46% next year from 40 this year. Alberta's top marginal rates on both eligible and non-eligible dividends both went up over 20%. Capital gains will increase 15% next year to 23% from 20 this year. All this for the privilege of having a government that will add 50 billion debt and threaten our triple A credit rating. Back to coffee shops and public payroll for these inept morons in 2019.
You are going up a couple of percentage points in tax. As I pointed out with Fash's actual numbers, it equates to about $25 a paycheque. Does that really have a significant impact on someone making over $125K a year? Nah.
I also agree with higher taxes on investment gains.
In my world, the government takes me at a higher percentage than you pay in income tax then takes an extra 7% on everything I buy after that.
Listening to the upper middle class whine about how tough it is to pay their damn taxes is still a fucking joke.
In 1988, ten different tax brackets were consolidated into three with the top rate lowered. Still, the average wage earner in Ontario paid more in 1965 than they do today. This does not include a near tripling of CPP contributions.
What is concerning is combined federal & Ontario tax brackets and tax rates including surtaxes is now up to 53 and a half percent. NDP leader Mulcair recognized that Trudeau's plan to raise the top bracket over ten percent while only lowering it on the lower middle class by about six percent puts us on a slippery slope. Expect more scapegoating as governments find it more difficult to make good on spending promises.