tunellite replied to your post “I'm curious about income tax because I'm quite curious in how we...”
Well 45% is kind of low when considering how the incomes of the many people who make well over 200k. Should the upper middle class really fall into the highest tax bracket? Is that really where we’re going to cap it in Canada? Or is it the rich (people making 400k, 500k, a million in a year) who should be shelling out the biggest portion? 200k is comparably quite low considering these incomes.
If you are earning over $200,000 a year, you are rich. If you are earning more than $200,000 per year you are well above the top 1% richest Canadians:
According to the 2011 NHS, 10% of Canadians had total incomes of more than $80,400 in 2010, almost triple the national median income of $27,800.
To be in the top 5%, Canadians needed to have a total income of slightly above $102,300 and to be in the top 1% required just over $191,100, nearly seven times the national median income.
Nobody earning that much money should be struggling even after taxes.
I’ve never earned a wage at a full time job higher than $16/hour and I’m 30 years old. That is a yearly wage of $33,000. I lived on that in the Vancouver area. I wasn’t entirely comfortably, but I did fine all things considered.
This is just classism.
