Author Topic: American VS Canadian Financial Profile  (Read 36 times)

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Offline MH

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American VS Canadian Financial Profile
« on: November 18, 2019, 07:37:57 pm »

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Offline Gorgeous Graham

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Re: American VS Canadian Financial Profile
« Reply #1 on: November 18, 2019, 08:14:35 pm »
Thanks for posting.  The finding seem to confirm most of people tend to think nowadays.
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019

Offline MH

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Re: American VS Canadian Financial Profile
« Reply #2 on: November 18, 2019, 08:40:44 pm »
?

Like Canadians pay lower taxes than Americans ?
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Offline wilber

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Re: American VS Canadian Financial Profile
« Reply #3 on: November 18, 2019, 09:26:33 pm »
?

Like Canadians pay lower taxes than Americans ?

Just lower federal income taxes in lower income brackets. Total taxation could be another story and will vary. Some states have no state income tax and some have no sales tax. The US also doesn't have a GST tacked onto state sales taxes.

Move to Alaska, no state income tax or sales tax.
"Never trust a man without a single redeeming vice" WSC

Offline MH

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Re: American VS Canadian Financial Profile
« Reply #4 on: November 19, 2019, 07:29:29 am »
Ok but a typical family pays .8% lower rate which equates to 3.5% less!

And healthcare is thrown in!

Other things on there surprised me too.

Offline wilber

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Re: American VS Canadian Financial Profile
« Reply #5 on: November 19, 2019, 09:23:35 am »
Ok but a typical family pays .8% lower rate which equates to 3.5% less!

And healthcare is thrown in!

Other things on there surprised me too.

This article only refers to income taxes and does the average tax rate they quote include state and provincial income taxes? Most of our health care spending comes out of provincial budgets, not federal.
"Never trust a man without a single redeeming vice" WSC
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