To: Snowyman
I'm trying to keep this simple. On a $60,000 income, single, no dependants, Canadian Fed tax is $10,986. US Federal tax on the same amount (60k) is $11,070. Then in Canada you can add a Provincial income tax and in the US a State and in some cases a city income tax (please correct me if I'm wrong). It depends on the state and it depends on the city. In Pa. there is a state income tax of 2.8 percent. In Fla., it is zero. Philadelphia has a wage tax of 3.9 percent. It is basically zero in the suburbs.
It is my understanding that the total tax burden in Canada including (especially) the sales tax, is much higher than in the U.S. I'm not arguing just curious.
69 posted on
04/25/2002 5:06:59 PM PDT by
Tribune7
To: Tribune7
There is a Federal 8% GST ( grab and screw tax) that replaced a 13% manufacturing tax but was applied to more products , including services but not all products or services. There is a provincial sales tax that varries from province to province. Ontario has a 7% tax, Alberta none.
Where I live it costs $37.50 to plate a car for a year, in Southern Ontario $75.00. Again ,I would think States would varry as would Provinces. There are no health premiums in Ontario, they are paid with a 3% payroll tax by the employer. We have one short toll road in Toronto and a 14.7 cent per litre tax on fuel. The Feds have a hidden 10 cent tax/litre and then charge the GST on top. Cities can not charge income tax.
72 posted on
04/25/2002 5:33:49 PM PDT by
Snowyman
To: Tribune7
Keep in mind that the Canadian dollar, appropriately nicknamed the "looney", is only worth, what, 72 cents?
So compare your taxation of, say, $C100,000 to $US72,000.
The picture comes out just a little different I'll bet.
84 posted on
04/26/2002 8:22:55 AM PDT by
Redbob
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