NEWS
 
You shell out more for taxes than basic necessities
A new study compares the numbers - and they're going up.
2 0

We always complain about how much we're being taxed but  some hard numbers have been released to only strengthen your budgeting headache.

A study by the Fraser Institute reveals almost 42 per cent of Canadians' average yearly income goes to taxes, compared to 36 per cent for food, shelter and clothing.

Resident Scholar in Economic Policy Charles Lammam of the Fraser Institute says they considered it all: from payroll taxes, HST, vehicle taxes, property taxes to even CPP deductions.

Comparing the numbers to what Canadians paid in 1961, your average tax payout has gone up by almost 9 per cent.

He says while they didn't break things down by province, Ontario isn't in a good place.

Lammam stresses that's because not only is the province dealing with a deficit which taxes will pay down but it also wants to skim your paycheque by putting in place its own pension plan.

Categories:

Leave a comment:

showing all comments · Subscribe to comments
  1. AbbyW posted on 08/12/2014 10:55 AM
    Basket of goods and services for cost of living conveniently omits taxes, which is often the largest single expense. If it were included people might be more inclined to vote for fiscal responsibility.

    Taxes aren't the problem. Politicians and civil servants wasting our tax dollars is the biggest problem we face and the more it's publicized the more we have a chance for this gravy train to stop.
  2. RomanP_3247 posted on 08/12/2014 11:27 AM
    There is nothing more expensive than when government says it will provide it for free. Free cheese is found in a mousetrap, but so many people are not different from mice, it is disturbing. Wake up and realise that everybody would be better off without all this government spending except for the leeches in the government. Abolish payroll, income, divident, capital gains, death, gift taxes, ohip, pension, ei, welfare taxes and watch the economy shoot up. No, instead you want your mousetrap (as long as you believe that there is somebody in it who is paying more than you and you are getting something for nothing). Taxes and inflation (money printing) and business and labour regulations are killing the economy.
showing all comments

DON'T MISS

AIRPORT TUNNEL

WATCH: NEWSTALK 1010 contest winner is first through airport tunnel

Joel MacCharles, winner of the NEWSTALK 1010 'Be the First' contest makes history before jet-setting to NYC!

NEWS ALERTS

STAY CONNECTED

Sign up for out Breaking News Alerts and receive up-to-the-minute coverage of the top stories of the day

 
2 0

We always complain about how much we're being taxed but  some hard numbers have been released to only strengthen your budgeting headache.

A study by the Fraser Institute reveals almost 42 per cent of Canadians' average yearly income goes to taxes, compared to 36 per cent for food, shelter and clothing.

Resident Scholar in Economic Policy Charles Lammam of the Fraser Institute says they considered it all: from payroll taxes, HST, vehicle taxes, property taxes to even CPP deductions.

Comparing the numbers to what Canadians paid in 1961, your average tax payout has gone up by almost 9 per cent.

He says while they didn't break things down by province, Ontario isn't in a good place.

Lammam stresses that's because not only is the province dealing with a deficit which taxes will pay down but it also wants to skim your paycheque by putting in place its own pension plan.

Leave a comment:

showing all comments · Subscribe to comments
  1. AbbyW posted on 08/12/2014 10:55 AM
    Basket of goods and services for cost of living conveniently omits taxes, which is often the largest single expense. If it were included people might be more inclined to vote for fiscal responsibility.

    Taxes aren't the problem. Politicians and civil servants wasting our tax dollars is the biggest problem we face and the more it's publicized the more we have a chance for this gravy train to stop.
  2. RomanP_3247 posted on 08/12/2014 11:27 AM
    There is nothing more expensive than when government says it will provide it for free. Free cheese is found in a mousetrap, but so many people are not different from mice, it is disturbing. Wake up and realise that everybody would be better off without all this government spending except for the leeches in the government. Abolish payroll, income, divident, capital gains, death, gift taxes, ohip, pension, ei, welfare taxes and watch the economy shoot up. No, instead you want your mousetrap (as long as you believe that there is somebody in it who is paying more than you and you are getting something for nothing). Taxes and inflation (money printing) and business and labour regulations are killing the economy.
showing all comments

Top stories

Passenger bus was carrying dozens of people about 40km north-east of Kamloops

Poll

Protesters from Black Lives Matter blocked traffic on the Allen last night to protest police shootings. Was this the best way to make a point?

Voting is restricted to one vote every 24 hours 24 hour(s) VoteResults