Ontario Effective Income Tax Rates
Tax rate discussion
While helpful for all Canadian taxpayers, this discussion will be very helpful to Ontario residents. It really illustrates how complex our tax system has become!
You dont have to convince me.
Ive posted many times on here about how ludicrously complex ourTax System has become.
And it just gets worse every year when govts keep addding new programs, new credits, etc, to try and hide hoe the average taxpayer is getting ruined by govt waste and spending.
Add in the "phantom income" thats produced when you have to gross up your dividends. This is income you NEVER actually received, yet it is used as your "taxable income" for all kinds of govt benefits and clawbacks.
Its a DISGRACE !!
We need a FLAT RATE tax system that the average taxpayer can easily understand and comply with....and that doesn't punish someone for working hard and getting ahead.
As for taxing the rich...thast such a joke.....Ive never seen a "poor" person create a job or create any value or prosperity for any society ever.
As you can tell, this stuff really gets my blood boiling, and it bothers me that NO politician has the balls to call it what it is, and fix the system.
"Ive never seen a "poor" person create a job or create any value or prosperity for any society ever."
@warp: I would give you the benefit of the doubt that you were not thinking straight when you typed this. I encourage you to apologize and retract your statement.
Originally Posted by warp
Apologize?? and Retract?? Who are you, my Father?
Originally Posted by slacker
Give me a break! I would encourage you to open your eyes, and get your head on staright.
I was thinking TOTALLY clearly when I wrote this.
What is it about this "statement", that offends you, or that is incorrect.
I assume you are saying it is "politically incorrect"...which I am sick of hearing about, to say the least.
Theres a lyric in an old rock song.....when I was younger.
" tax the rich.
feed the poor,
till there are,
no rich no more"
I think it was by AREOSMITH
It is when you DO NOT punish hard work and innovation through high taxes , that a society enriches itself.
How can it EVER be fair when the govt gets more of what you earn than you do? Where is the incentive to work,,,the incentive to acheive?
Before you think Im an ogre, I agree with the premise that the govt, thru taxes, should give a helping hand to the poor, seniors, disabled, or dissadvantaged, or anyone going through a rough patch.
However , what we have created is a society where everyone thinks they are ENTITILED to everything...and constantly with their hands out looking for just that....a handout.
As in, "we" are all entitiled to housing......NO YOU ARE NOT....you are entitiled to work, not be taxed to death, and house yourself.
The amount of sheer waste at all govt levels makes me SICK, because it is MY money they are wasting.
I have alwasys felt this way,,even when I was young and broke....and had many problems through University when I made these points in class, and was laughed at by my "professors", including my economics professors, who I now realize were in dream land, and couldnt punch their way out of a paper bag in the real world....and dont even get me started about "TENURE", or the public service unions....parasites on the public dime.
Remember this...NO society in the HISTORY of the world has ever taxed itself into prosperity.
In fact I would argue that the opposite is true.
Feel pretty strongly about this Warp? Relax there fella, things ain't that bad.
Perhaps not, but without loud persistent voices like Warp's things certainly will become that bad or worse! There's far too much apathy in this country regarding government spending and efficiency.
Originally Posted by Square Root
I have some former workmates who think they are entitled to OAS. They took offence when I referred to it as a welfare program. I said that it is by definition a welfare program because it is only available to people who need it. When you make 105k taxable it is a thing of the past. Plus it is supported out of general tax revenues.
Originally Posted by warp
You would have thought that I wanted to start a war. All I was doing was calling a spade a f*cking shovel...
Everyone has a right to their opinion...However I take exemption to my thoughts being called " a rant", by soem posters here,
Howver , lets look at the facts.
We pay tax on income.
We pay tax on comsumption... PST/GST/HST/ excise tax etc etc
We pay tax on savings,( even though interest savings rates may not keep up with infaltion)
We pay tax on investments...And tax on "phantom" dividend gross ups.
We pay Gas tax, tire tax , air conditioner tax, environmental tax
We pay tax on top of tax.
We pay property tax, ( which, for some older people, is so onerous, they have to sell their own homes!!)
We pay tax on essentials, like fuel to heat our homes, or electricity to turn our lights on.
Seniors in Ontario have to wait till after 9 PM to cook dinner or it costs them more.
We have to pay tax on that utter essentail,,,TOILET PAPER!
Many of these taxes are paid with "after tax" money.
The whole thing is a mess. Is it a wonder people are fed up?
And even though the govt collects all these taxes..they still run HUGE DEFICITS, ( which my son will have to pay for)
Of course politicians can look forward to nice pensions and benefits.
Public service workers get pensions and benefits that ordinary working taxpayers, ( who pay their salaries), can't even DREAM about getting.
Whats wrong with this picture??......plenty!
Some day soon,,the govts at all levels will take 100% or your income as taxes, and decide what you need to live on, and send that amount back to you.
So it if makes you feel fuzzy to call me a radical etc...I beg to differ , and would advise you to open your eyes to the reality of whats going on here.
And when I said that the "poor" dont add any value to society...perhaps I should have instead said the "parasites" who are always looking for handouts from govt.......
I do know one thing for sure...
When someone gets something for nothing..( eg govt handouts)
Someone else is getting nothing for something...( eg high taxes)
I have respect for anyone who tries to make a living to raise their families..whether it be a million dollar a year earner...a $100 K a year executive, or a $20 K a year working person.
There is self respect in all work.....but the govt shouldnt punish anyone for working harder or achieving more.
Not that old, I had a boss many years ago that played this song to much, you made me look, even had a listen on youtube
Originally Posted by warp
cut and paste time
A Space in Time is the seventh album by the British blues-rock band, Ten Years After. It was released in October 1971. A departure in style from their previous albums, A Space in Time has more of a pop feel to it. It also contains their biggest hit, I'd Love To Change The World, the third track on the album. It is a song protesting capitalism and war, and features a speedy, 30-second guitar solo by lead vocalist Alvin Lee.
They are still touring the world (minus Alvin), no early retirement for these guys.