I just saw a Canadian Professor and he stated that between Providence and State taxes its close to 60%.Then there is other taxes and in the end there is the whopping 30% left.

I'd hate to think what ours are if figured up!

What's the effective tax rate? Effective tax rates are all that matter.

X2

well over 50% with my rought figuring and I'm thinking I was low. sales tax, property, fuel road tax you dot see but is in price at the pump. licens plates and other fees are nothing more than extra taxes. it's infuriating when you add it up. I wish they didn't take out payroll tax and we had to sent it in each year. people would be more likely to demand the government be financially responsible.

Never look at the gross number on the pay stub. The net income get taxed even more. Hockey players, doctors and other pros don’t want to work here, why the heck would they, can’t blame them.

The professor stated that the current Canada is designed for the 5% to support the 95%

Sounds about right. I make a decent wage, but over half is gone. And the overtime is a real killer! Speaking of OT…….gotta go..lol

The numbers are a bit different, but the exact same thing unfortunately happens here. The top 10 percent in the U.S. pay around 75% of all income taxes.

"Based on the provided search results, it is clear that the top 20% of income earners in Canada pay the majority of income taxes. According to the Fraser Institute study (October 2022), the top quintile of income earners (making over $227,486) pay nearly two-thirds of Canada’s income taxes, while receiving just under 45% of the total income.

Similarly, a Tax Foundation analysis (April 2023) found that the top 5% of earners (making over $1 million) pay 39% of all federal income taxes, while a National Taxpayers Union report (July 2024) noted that the wealthiest households pay a disproportionate share of income taxes, despite the rhetoric that they do not pay their fair share.

In Canada, the top income tax bracket is 33% for income exceeding $221,708. This means that high-income individuals are taxed at a higher rate than lower-income earners, contributing to the majority of income taxes being paid by the top 20%.

In summary, the top 20% of income earners in Canada, particularly those making over $227,486, pay the majority of income taxes, with the highest-earning households (making over $1 million) paying an even larger share."

Since about 50% of Americans pay no income tax, I would guess it is worse in the US.



"April 2, 2024 - The top 50 percent of all taxpayers paid 97.7 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 2.3 percent."

Source: Tax Foundation

"Most of the government’s federal income tax revenue comes from the nation’s top income earners. In 2021, the top 5% of earners — people with incomes $252,840 and above — collectively paid over $1.4 trillion in income taxes, or about 66% of the national total. If you include the top 10% — everyone who made at least $169,800 — that figure rises to $1.7 trillion, or 76% of the total."

Source USA Facts

I guess $169 800 is the new "rich"

I’ve spent a week a year in Newfoundland every year since 2006. Made a lot of friends on the Rock. They all describe Newfoundland and Labrador as a welfare state. The other providences carry it. You only need to work nine weeks a year, and you can get unemployment for the balance. There is opportunity for work…the mines there struggle to find miners. You seldom see any sign of affluence….folks there have small homes, one old vehicle, and a skidoo. But they are great people, just not overly ambitious.

my last check was 92 hrs the week before was 96. I made 400 less but only took home 100 less. to be Fair I do have over 20% coming out for retirement I'm sure that has an effect.

One in four Canadians are employed by the government(public sector)

Government spending jumped 11% (annualized)

Canada's government is now +40% larger than it was less than and decade ago

It’s unsubstanable,,,,,,,and it’s only going to get worse,,,,,

Then here in the US it’s:
City Tax
State Tax
Gas Tax
And On and On!

Whiskey tax, stamp tax, tobacco tax, and the infamous tea tax hmmmm..... looks like something is trying to repeat itself?