Lower income taxes

[Topaz]

The Min.of Industry said that they had complains by some Canadians about the long form census and they felt they had to do something about that. Ok, so what would the Min. of Finance do if he got e-mails from Canadians that they wanted their income taxes lowered to the same level of corporate taxes? Would they do anything about it? Probably not.

[M.Dancer]

Ok, so what would the Min. of Finance do if he got e-mails from Canadians that they wanted their income taxes lowered to the same level of corporate taxes? Would they do anything about it? Probably not.

You mean raised to the same levels as corporations?

18% federal

13% Ontario

2.422% EI employer contributions

and that's just the start....

[Topaz]

True or false, most Canadians pay income tax at the rates of 15%, 22% or 26% or 29% of their income? Wouldn't you like to pay only 13%? http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

[eyeball]

True or false, most Canadians pay income tax at the rates of 15%, 22% or 26% or 29% of their income? Wouldn't you like to pay only 13%? http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

I'd rather get it down to nothing or next too it for human beings but I'd also raise consumption taxes.

[charter.rights]

You mean raised to the same levels as corporations?

18% federal

13% Ontario

2.422% EI employer contributions

and that's just the start....

EI is an insurance not a tax.

At 31% corporations pay tax at a rate only slightly above the low income tax rate. Topaz is right we would have to lower our income taxes to be equal.

Edited September 25, 2010 by charter.rights

[Topaz]

EI is an insurance not a tax.

At 31% corporations pay tax at a rate only slightly above the low income tax rate. Topaz is right we would have to lower our income taxes to be equal.

Thank you pointing out that I was right but isn`t the increase in EI considered a payroll tax?

[M.Dancer]

Thank you pointing out that I was right but isn`t the increase in EI considered a payroll tax?

Inbtake it neither of you know that employers pay the government a EI premium?

[M.Dancer]

True or false, most Canadians pay income tax at the rates of 15%, 22% or 26% or 29% of their income? Wouldn't you like to pay only 13%? http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

29% of taxable income over $127,021. highest rate

31% is the corporate rate. Are you going to fix your idiotic OP?

[August1991]

The Min.of Industry said that they had complains by some Canadians about the long form census and they felt they had to do something about that. Ok, so what would the Min. of Finance do if he got e-mails from Canadians that they wanted their income taxes lowered to the same level of corporate taxes? Would they do anything about it? Probably not.

Wait a second, Topaz. Corporations don't pay taxes. Only people can pay taxes. What you call a "corporate tax" just means someone somewhere is paying the tax: either shareholders, employees or customers.

Now, as to your suggestion that the government reduce income taxes, why should it? How is the government going to pay for all the stuff leftists want governments to do for us?

I think what you are really saying is that you want someone else to pay for the government stuff that you enjoy. In common language, there is a word for someone like you.

Edited September 26, 2010 by August1991

[msj]

29% of taxable income over $127,021. highest rate

31% is the corporate rate. Are you going to fix your idiotic OP?

Let's compare apples to apples - if you are going to include provincial and federal corporate tax rates then you have to include provincial and federal personal tax rates.

The combined federal and provincial income tax rates for regular income in BC and Ontario max out around 44% (BC) and 46% (ON) at around $127,000.

Around $41,000 in taxable income the marginal tax rate is 30-31% on regular income in BC and Ontario.

See personal tax rates for Ontario and BC and corporate tax rates.

Note for corporate rates I'm using the General rates because we are talking about corporations that would not qualify for the small business rates.

Clearly, though, it would be nice to lower personal tax rates down to the small business rates up to, say, $40,000 in income, and then have the general corporate rates for any income above that point.

But then we would have to cut spending and it seems that few have the appetite to do that.