Canada's top marginal tax rate is 40%, which is the tax rate on income _above_ ~$60000, whereas in the US, I believe the top marginal tax rate is about ~40% @ > $100,000. That's the biggest difference. The lower rates are actually very similar. If you make less than $60k in either country, your personal income taxes are going to be almost the same. I think our personal exemption amount is actually higher than the US's. You and your spouse can also choose to file singly or as a couple, depending on what works better for you from a tax perspective.
Provincial income tax rates vary, but even then, it's not like I'm saving $1000s by living in Alberta vs. BC because of those taxes. Gas taxes are quite high here. We pay about double the price of your gas prices. Liquor tax in AB is (I think) 110%. Cigarettes are taxed quite highly here. So I don't smoke and rarely drink :) Also, we have the GST. Mind you, people who earn less than ~$34k get a (imho, a fairly hefty) rebate. Alberta has no sales tax, so I just pay 7%. We don't get a tax deduction on mortgage payments, so everyone here tries to get the lowest mortage possible and pay as quickly as they can :) We have an RRSP system, similar to your 401K. There's no real equivalent to the Roth IRA up here, but it is being looked at. Employment Insurance and Canada Pension Plan deductions are done on the first ~$39k of your earnings. Here's a link with the numbers for this: http://www.utoronto.ca/hrhome/cpp_ei03.htm ----- Original Message ----- From: Dana Tierney <[EMAIL PROTECTED]> Date: Tuesday, July 8, 2003 3:45 pm Subject: Re: Altruism (was RE: US threatens Caribbean Countries) > do they pay more in taxes? I have no info on this. I know people bitch > about taxes there > but then they bitch about taxes here.... > > Dana > > Larry C. Lyons writes: > > > People pay more in taxes, yes, but much, much less in health > > insurance, car insurance (for Manitoba and BC at least), > > unemployment, workers compensation, education, college, etc. So > > essentially it balances out. > > > > As for the bogus comment about mineral rights, it has nothing to > do > > with socialism or whatever. Its from a far older system, called > the > > british government model. The crown owns the land, and the > individual > > buys from the government. > > > > As for the utilities, frankly as far as I'm concerned its better > that > > the provincial government own the electrical utilities and get > some > > hope of getting something back rather than it all going out of > the > > province to enrich some person who never had to work in his life. > > > > A quick comparison, Manitoba owns its electrical generation and > > delivery systems. Before I left Winnipeg, Manitoba, I paid about > $15 > > a month Canadian (approx $10) for an electrically heated 2 > bedroom > > apartment. Coming to Roanoke, Virginia, where there was a > privately > > owned electrical utility, my electrical rates were about 3 times > as > > much. > > > > There are some advantages to a regulated government monopoly. > > > > larry > > > > >They own their houses, but they have no mineral rights to > what's under the > > >ground. Also look into Esso and the amount of money it gets > from the > > >government sometime. Look at the utilities and who owns and > runs those. > > > > > >Your oversimplifying this a lot you know. BTW they pay far > more in taxes > > >than we do. Hell GST, provincial and federal taxes, supporting > all of these > > >various social programs. > > > > > >I don't know why you have such a problem with the word? How > would you > > >define it? Is there some stigma you attach to socialist? > > > > > >Tim > > > > > > > > >-----Original Message----- > > >From: Dana Tierney [EMAIL PROTECTED] > > >Sent: Tuesday, July 08, 2003 2:33 PM > > >To: CF-Community > > >Subject: Re: Altruism (was RE: US threatens Caribbean Countries) > > > > > > > > >Well all I know is that Tim claimed that it was socialist > because the large > > >industries are government owned and something about property > rights,> >neither of which is true. I have been in the states a > long time but I have > > >family in Canada and ya they own houses, work and pay taxes in > very much > > >the same way that I do. > > > > > >Dana > > > > > >Nick McClure writes: > > > > > >> That is only part of the equation. > > >> > > >> Socialism and democracy are not mutually exclusive, you can > have a > > >socialist > > >> democracy, capitalist monarchy or a communist republic. > > >> > > >> Socialism or capitalism is the economic side, democracy or > dictatorship is > > >> the political side. > > >> > > >> I would say that Canada is not a 100% capitalist country. > There are > > >> obviously capitalist ideas, but there are a number of > socialist ideas as > > >> well. > > >> > > >> > -----Original Message----- > > >> > From: Dana Tierney [EMAIL PROTECTED] > > >> > Sent: Tuesday, July 08, 2003 2:04 PM > > >> > To: CF-Community > > >> > Subject: Re: Altruism (was RE: US threatens Caribbean > Countries)> >> > > > >> > It's a parliamentary democracy. > > >> > > > >> > Dana > > >> > > > >> > Heald, Tim writes: > > >> > > > >> > > >> > > >> > > > > > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Archives: http://www.houseoffusion.com/cf_lists/index.cfm?forumid=5 Subscription: http://www.houseoffusion.com/cf_lists/index.cfm?method=subscribe&forumid=5 Your ad could be here. 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