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Originally Posted by Lance69
Still though, my trainier in the US pays over 600/month in medical insurance! And obviously that's on top of his taxes. Gimme a few extra % of income tax so I don't have to deal with that anyday.  |
Only applies to the lower tax brackets.
For example, the last real job I had was a project manager. I made $90,000 a year and my combined income tax rate was around 43%.
My mother, an American, makes closer to $200,000 a year and her tax rate is somewhere in the mid-high 20%'s .. The number I seem to remember is about 27%.
The difference in our taxes, even on my substanially lower income, was about 16%. $90,000 * .16 = $14400. $14,400 / 12 = $1200 per month. Gee, $600 a month for health insurance sounds like a bargain to me, considering I'd have $600 more in my pocket every month. Being in the top tax bracket, I also had to pay in to my own health plan each year, it's not truly free. Prescription coverage not even included at this point. Thankfully my employer covered that.
If I had have been making $200,000 in Canada, the difference would have been even more staggering.