Probably the part that makes people think, is that all loopholes and
deductions (theoretically) get removed under the flat tax system and everyone
is then taxed on actual income, not income after deductions.
So, the math becomes simple under flat tax ... but it is not currently simple.
So it is hard to imagine what income ( after creative accounting and legal
deductions are made ) someone is paying taxes on.
Plus there are rules like
these:http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.htmland then the
provincial:http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html#provincial
statscan has all kinds of statistics on income demographics. Near as I can
figure with the little effort I am willing to put in, in 2008 in Canada,
approx 2/3rds of the population reported income. 24,713,470 people. Of those,
14,361,930 earned less than $35k, 9,026,610 earned between 35 and 100k and
1,342,930 earned over 100k. ( how much over $250,000 is an unknown, so it
gets even more difficult to figure out the tax dollars paid by that group )
That translates to 58% lower; 36.5% middle; and 5.5% upper incomes.
Knock yourself out:http://www40.statcan.gc.ca/l01/cst01/FAMIL105A-eng.htm
Robert
> From: ladaniels@sbcglobal.net
>
> Damn, why is this so hard to figure out?
>
> If high-earners percentage of tax burden goes down (which it will), they pay
> less.
>
> If low-earners percentage of tax burden goes up (which it will), they pay
> more.
>
> Wake up, people. This just isn't that big of a mystery. It really is
> simple math!
>
> Being in the financial industry, I tend to think this stuff is just plain
> common sense, but, really, this is some pretty simple stuff.
>
>
>
>
>
>
> -----Original Message-----
> From: Dave Yealy
> Sent: Thursday, March 03, 2011 5:49 PM
> To: spridgets@autox.team.net
> Subject: Re: [Spridgets] Taxes
>
> This has to be the way you figure it out with that new math they are
> learning in school. I never did understand it, I still like the old way.
>
> Dave
>
>
> At 03:24 PM 3/3/2011, you wrote:
> >And for all of you flat tax fans, chew on this: if everybody pays the
same
> >percentage of their income in taxes, that means that the people who make
> >the
> >most money pay less and the people who make the least pay more. So,
unless
> >you are a CEO of a large corporation or a hedge fund manager or anybody
> >else
> >making mega-bucks, your taxes are going up. The more you make and the
more
> >you can afford to pay, the less you will pay. The less you make and the
> >less you can afford to pay more taxes, the more you will have to pay.
> >
> >Great idea.
> >
> >Did you really think this through?
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