read the fine print...
THE RICH ARE GETTING RICHER AND EVERYONE ELSES BUYING POWER REMAINED THE SAME FOR THE LAST DECADE.
the reason that that fact is not spread over the first page in every news paper in canada can only be attributed to the fact that the wealthy own those news papers. the fact that the average canadian has not seen an increase in the buying power of their dollar while equity has seen triple digit growth for the same time period is truly criminal.
what i'm curious about is
1. is the increase in population of this tax bracket respective of the increase in population over the same period (i suspect it is and the fact its not reported shows bias in the opposite direction than conservative freaks accuse)
2. how many of these people obtain their main income from a corporation for which they are shareholders (another bias, don't want to let any cats out of any bags, do we!)
this year i grossed just over 200k and paid a combined (personal and corporate) effective tax rate of just under 10%. all one needs is a good accountant. i'm not in the upper 5% of wage earners as my reported income is only 55k this year. i suspect one would have to have a similar situation as mine and making $300k to make it to the top 5%.
losses for incorporated upper income earners are a joke. next year i plan to sink more money into my company by borrowing personally and then lending to the company. any money i get paid back will be non-taxable. any money made by the company gets the usual write offs (oh yeah, my whole life is a write off) and lower corporate tax rate. if my company decides to stiff me for the money... hey, thats a huge loss! i can just imagine what kind of 'losses' some of canadas billionaires can come up with! hilarious! most of them own nothing... their corporations own everything.
as you can imagine, every time government talks about a reduction in personal tax that will save the average tax payer a few hundred bucks then i have a GOOD LAUGH.
and conservative governments will NEVER raise corporate tax rates! need i repeat myself yet again?... IF YOU ARE A T4'D INCOME EARNER AND YOU SUPPORT ANY KNOWN CONSERVATIVE PARTY, THAT I KNOW OF, THEN YOU ARE THE BIGGEST SUCKER THERE IS!
so, please keep pushing... so i can retire early!