Taxing Times
Posted on May 2, 2012 in Governance Policy Context
Source: CCPA — Authors: Trish Hennessy
policyalternatives.ca/publications/commentary – Hennessy’s Index: A number is never just a number
May 1, 2012. by Trish Hennessy, National Office, CCPA
Hennessy’s Index is a monthly listing of numbers, written by the CCPA’s Trish Hennessy, about Canada and its place in the world. For other months, visit:http://policyalternatives.ca/index
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31%
That’s how much of Canada’s economy is made up of income, sales, corporate, property and other taxes we pay to all levels of government. (Source)
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$38 billion
That’s how much less Canadians now pay in individual income tax compared to 2000. (Source)
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$19 billion
That’s how much less Canadians pay now in sales taxes compared to 2000. Since the Harper government cut the GST by two points in 2007, the average annual revenue loss to the treasury is about $12 billion. (Source 1, 2)
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$18 billion
That’s how much less corporations pay now in Canadian taxes compared to 2000. (Source)
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$11,747
Total income tax a person with an annual income of $50,000 will pay in Quebec for 2011, the highest regional amount in Canada. (Source)
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$8,349
Total income tax that same person would pay in Nunavut, the lowest regional amount in Canada. (Source)
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$41,000
Average amount middle-income Canadian families enjoy in public services that their taxes fund. It’s worth about 63% of their income. (Source)
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64%
That’s how many Canadians are willing to pay slightly higher taxes to protect our social programs. (Source)
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60%
That’s how many Canadians say they’d be more likely to support a political party willing to raise taxes on the rich. (Source)
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2%
Tax hike for Canadians making between $170,000 and $640,000 that a new organization, Doctors for Fair Taxation, recommend federal and provincial governments adopt. (Source)
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2%
Extra taxes Ontarians earning $500,000 or more will pay due to a temporary surtax. It affects about 23,000 people who will pay, on average, about $19,000 more in taxes. (Source)
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49.5%
Ontario’s marginal tax rate once the new tax hike on the highest income earners kicks in. In the 1950s, the ’60s and early ’70s the marginal tax rate (including federal and provincial) for this income range was 80 per cent. (Source 1, 2)
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75%
Percent of taxes France’s Socialist Party candidate François Hollande proposes to levy on millionaires in that country. (Source)
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11 Responses to “Taxing Times”
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