Quote:
Originally Posted by ajrocks
45% of my income! Canada sucks!
|
45% is the marginal personal income tax rate for high income earners - for somebody with declared income of $300,000 in Canada the average tax rate is 39%. Americans making 300K a year pay 27% but most American states have their own income taxes - California and New York have state income tax rates of almost 10% on high income earners. Not a huge difference between the US and Canada income tax wise. We have the fucking GST though - the US needs a VAT/GST tax but even the Democrats won't do it because they know they'll be thrown out of office.
off topic a bit but............