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Discussion Starter #21 (Edited)
They pay 55% of all collected. Pretty lopsided wouldn't you agree?
They collect 35% of all income, so what is the tax rate they actually pay ?

If they collected 35% of all income and only paid 55% of the income taxes collected, it looks like they paid a pretty low rate of taxes.
 

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sags...I do not mind paying taxes but I do not want to pay more. I have been in the top incremental bracket years. My spouse as well and she cannot get OAS because of the clawback. We are happy to pay for the privilege of living in Canada but enough is enough.


it is really easy to say increase taxes. It rolls off the tongue so easily. Until it is YOUR taxes that get increased or your benefit that gets cut.

Why on earth kill the goose that lays the golden egg?
 

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I left a what I thought was a great paying job on the railway to go to college and university. Spent five years working and attending classes. Then I worked hard, often twelve hour days, in order to make commissions during various recessions. Several moves, lots of personal sacrifices by me and by my spouse and children. Yes, I earned a very good income. But there was a reason for it. I did not do 8 hours a day with time and a half or double time if I worked an extra 15 or 30 minutes. It is how I ended up in what might be called the top 1 or 2 percent of income earners prior to retirement. No secret to it. Nor am I ashamed. It was all about choices. It is also about risk and reward. Do I put my savings in term deposits or CSB's or do I place my money in the market or in a new business with high risk? Or do I go out and buy a new car, new sound system, or take an exotic vacation?


I have some nieces and nephews that have done the same. Years in training, hard work, launched their careers, willing to move away from mommy and their high school friends. I also have a few others who have gone no where. Too lazy or lacking in foresight to invest in their futures. Stuck in minimum wage type employment in service industry jobs. They no doubt want to tax the rich. They pretend to resentful and spout off that foolishness. Instead, some of these people should look themselves in the mirror and be honest about how they got where they are. Or did not.
This is called "white privilege" lol.
 

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No, that isn't a solution because there aren't enough wealthy people to make a difference.

I think the change has to come at the employee wage level. We can't continue to have an economy that is paying 1990 wages.

Of course, then the problem becomes can employers afford it. It won't be easy to solve, but we best stop hiding from it.
There aren't enough wealthy people to make a difference - good insight.

You don't like 1990 wages - start a business and pay your workers properly. Show us how its done.
 

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People who think that poverty or wealth disparity can be solved simply by raising wages are dreaming in tecchnicolour. And in most instances I doubt very much whether they have ever owned a business or had to meet a payroll.
 

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This is a pointless subject. Life is not fair in many ways. But why would anyone think it should be? Nature is not fair. Some animals live and some die. There are always the weak and some are the strong, the lucky and the unlucky, the haves and the have nots. That's just nature including human nature.

Since the first homo sapiens walked the earth, each one has tried to get more than their neighbour has, in any way you want to consider. it is survival of the 'fittest' with fittest being defined in the relevant terms of the times. In the past that might have meant doing a better job of protecting your cattle and therefore having a bigger herd than your neighbour. No one gave away cattle to make it 'fair'. Today it means earning more money than your neighbour and trying to suggest that the answer is to give some of what you earn to your neighbour to make it 'fair' is ludicrious. To suggest that is to deny human behavioural instincts. You might as well suggest a lion share its kill with any other animal that happens to wander by.
 

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They collect 35% of all income, so what is the tax rate they actually pay ?

If they collected 35% of all income and only paid 55% of the income taxes collected, it looks like they paid a pretty low rate of taxes.
? No . It means the opposite. They earn a small share yet account for ~1/2 the tax. Most top earners are usually in the top tax bracket. Pretty basic stuff.
 
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