- Comments (28)
- Text Size: Down Up
moneysense.ca, 19/04/10
Taxes increased faster than any other expense
Our tax bill has jumped more than 1,000% since 1961.
At least for me, taxes are one of those things that you pay and then try to forget. Yet, it does feel like every year I’m paying my various governments more and more. And they do get higher — property taxes usually increase every year, the more my salary rises the more money gets taken off the top; I’ve never calculated how much more I’m paying year after year, though, mostly because I’m afraid to know the answer.
And I had good reason to be scared — the Fraser Institute, a fiscally conservative think tank, ran those numbers and found that taxes have increased faster than any other household expense.
From 1961 to today Canadians’ total tax bill jumped 1,624%, while housing expenses climbed by 1,198%, food by 559% and clothes by 526%. Last year the average family earned $69,175 and paid $28,878 in taxes, or 41.7% of income — 49 years ago total taxes accounted for 33.5% of our income.
Ok, that’s a lot. The survey took everything into account, from income tax and sales taxes to other costs like import duties and taxes on tobacco and alcohol. Not everything would apply to me (I don’t smoke), and because we can also can take advantage of various tax breaks, including what we get back from RRSP contributions, things may not be as bleak as the Fraser Institute makes it sound. Still, after hearing this, I’m definitely not going to calculate how much tax I pay in a year anytime soon.
moneysense.ca, 19/04/10










Any new articles let me know?
It’s hard to find knowledgeable people on this topic, but you sound like you know what you’re talking about! Thanks
Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
Cant wait to read new articles on this site every day.
i thought this was a really great post to read. i’ll check back for new posts by you!
i thought this was a really great post to read. i’ll check back for new posts by you!
great post! i’m bookmarking this!
great post! i’m bookmarking this!
This design is incredible! You obviously know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Excellent job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!
great post! i’m bookmarking this!
i’m adding your blog rss feed so that i can see your new posts. keep up the good work!
great blog! keep up the great work!
i’m adding your blog rss feed so that i can see your new posts. keep up the good work!