How much tax does the average Canadian millionaire pay?

JLM

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Nov 27, 2008
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I was just watching N.D.P. candidate Nicky Ashton on the Idiot box saying it's time to make millionaires pay their fare share of taxes. I'm just curious as to much the average person earning $1 million a year (who doesn't deposit money in tax shelters overseas) pay! I'm wondering if the problem is the millionaire or the loopholes.
 

JLM

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Sounds about right, actually I thought it might be a little more, considering the number of children and seniors. Then there's the students, the handicapped, the incarcerated, the hospitalized, the unemployed etc. etc. etc.



So they are paying about $327 thousand PLUS what they pay on the first 202 thousand. Sounds to me like they are paying much more than their share.
 

JLM

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The only fair tax is a consumption tax.


I think we picked up on that before, Walter! It's good and bad, bad in that people will think twice (or three times) before spending! :)

Yes, and one that doesn't give tax breaks for eating meals.


Well, it would help to get rid of a lot of the obesity in the country! That would mostly be a good thing! :)

When you say 'millionaires', what do you mean?


Whatever that N.D.P. candidate meant! :) Originally I think it meant someone's net worth. Today that might include about 1/2 the country. I'm thinking in terms of $million annual income.
 

Tecumsehsbones

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How long is the Canadian tax code? Anything over ten pages is full of dodges for millionaires. I know. I haven't paid a penny in income tax in a decade and a half.
 

Walter

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Jan 28, 2007
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How long is the Canadian tax code? Anything over ten pages is full of dodges for millionaires. I know. I haven't paid a penny in income tax in a decade and a half.
Some day you'll make enough to pay tax again.
 

Jinentonix

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Sep 6, 2015
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Well, I contend that anyone who contributes $50 grand a year to his country is contributing fairly, regardless of what he earns! :)
So, out of curiosity. I have a friend who made $3.3 million in 2013 of which $300,000 was bank interest. He doesn't offshore any assets and has just his standard income and expenses. His total tax bill for the year was a tick over $100,000. Considering that's only a third of what he earned in bank interest alone, do you think that was his fair share? I'm not asking sarcastically, I'm honestly interested whether you think he paid too much, his fair share or not enough.
 

ZulFiqar786

Electoral Member
Sep 12, 2017
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It is strange that progressives and leftists talk about increasing taxation of the wealthiest people, and always bring up how such extremely filthy rich classes of people have so much money and are so greedy and how they need to pay their fair share. But at the same time, these leftists never talk about lowering the tax burden on those who aren’t super rich, such as the middle class and even the poor. Why do they never talk about getting rid of all sales taxes, like the HST, the most regressive and stupid tax ever, which essentially hurts lower income and lower middle class people the most? Why don’t they talk about getting rid of income tax, health premiums, property taxes, etc., for the lower income and lower middle class people? It proves that such leftists are simply not sincere in their claim to standing up for the interests of the “little” guy. They simply want to expand the power of the State and many of its useless social programs.