Quote:
Originally Posted by BeastieBombRacing
To pay an effective federal tax rate of 30% in the US, you'd have to be making well over $400k as an individual. So, super happy for you 
However, I don't buy that you're paying $40k a year towards premiums and deductibles. |
So in Canada, if you make $400K the tax rate is 45%....at $100K you're going to pay about 25%, however that's just the federal income tax. Then there is the sales tax HST which is 13% on every single purchase, then theirs the user fees (tax) government "revenue tools" (tax), health care supplement (tax), property tax, carbon tax and then the tax we pay on gas, tobacco and alcohol.
At the end of the day, my wife and I make good livings salary wise, by the time we pay all of our tax more than half of our income is taken in tax.