Quote:
Originally Posted by ajrocks
That's nothing! In Canada the top tax level is 45%, it starts at 120K to Billions, it doesn't matter.
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The difference in income taxes between the US and Canada isn't that large - in Canada federal and state/provincial taxes are blended together, Americans pay federal and state income taxes seperately.
Canadian with an income of $300,000 a year pays 39% average tax rate.
An American with an income of $300,000 a year pays 26% average federal tax rate, then another 10%(California) in state income tax, so in total 36% - not much less than a Canadian.
Where Canadians get screwed is the federal sales tax on just about everything they pay for.
As for US states like Florida and Texas without state income taxes, check out the property taxes in those states - there is no magic money tree for those states, what they don't get in state income taxes they get from elsewhere.
The US is becoming Canada Junior - which is sad, but inevitable. Once a country takes steps toward socialism there's no turning back.