Canada inches toward private medicine...Interesting
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Posted on: 11-08-05 06:30:30
Quote:
Orginally posted by alexm
Look at the problems Germany is having currently.
Some of the problems Germany faces maybe due to unification. Which actually proves your point, since the cost of absorbing a pure socialist economy must have been huge for West Germany.
It is still a powerhouse.
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I once made a mistake, but I was wrong about it.
Actually, I'm surprised that not too many people have not talked about the high rate of taxation in Canada (ie a socialist economy) in this forum.
People post often about the tribulations of finding a good job etc., but I would think that even after that you have to think that a $70K salary would mean that you get less than 35K in hand.
Sure, you get back from the govt, but not commensurate to what you put in...assuming that most people here fall into the higher tax brackets.
Haven't people taken this into consideration when thinking of emigrating?
Quote:
Orginally posted by alexm
you have to think that a $70K salary would mean that you get less than 35K in hand.
Where did you get that from? At a 70k income, income taxes certainly do not 'average 50%'.
If you are trying to factor in the expenditure taxes in computing this 50%, most European countries VAT at even higher rates than we pay in Canada.
Quote:
Orginally posted by crenshaw
Quote:
Orginally posted by alexm
you have to think that a $70K salary would mean that you get less than 35K in hand.
Where did you get that from? At a 70k income, income taxes certainly do not 'average 50%'.
If you are trying to factor in the expenditure taxes in computing this 50%, most European countries VAT at even higher rates than we pay in Canada.
With both federal and state taxes doesn't income tax total to above 50%? I looked at Ontario and Quebec.
Regarding most EU countries, to me just it seems like comparing to see which country has the most oppressive tax rates...nothing really positive there. I don't see the EU doing especially great in the next few decades.
Anyway, my point in asking was because I remember seeing a post where someone said you get 2-3x your salary in India on moving to Canada. But factor in the higher tax rates and cost of living and suddenly you are not much, if at all, better off than in India.
Of course, I haven't mnetioned intangibles like quality of life etc.
Quote:
Orginally posted by alexm
With both federal and state taxes doesn't income tax total to above 50%?
AFAIK, No.
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I once made a mistake, but I was wrong about it.
Quote:
Orginally posted by mercury6
Quote:
Orginally posted by alexm
With both federal and state taxes doesn't income tax total to above 50%?
AFAIK, No.
Sorry, my bad...it's 40 something; don't know where I got the 50 plus figure.
Btw, Pistons fan...they exist? J/k....
Quote:
Orginally posted by alexm
Sorry, my bad...it's 40 something; don't know where I got the 50 plus figure.
Btw, Pistons fan...they exist? J/k....
It might not even be 40%...but others will confirm this.
If it was 40% I might not be able to live here, as it depends how much you are earning.
I keep changing the avtaar. Last week it was the dreaded hammer and sickle.
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I once made a mistake, but I was wrong about it.
