I think i'm being shafted.

[mjncad]

43%?!?! How do you even survive?

Ask a European about how much they pay in taxes for their cradle to grave socialism welfare. It's amazing they have anything left over to do more than survive, let alone enjoy life.

If you add up all the income, property, sales, excise, etc, etc, etc, ad nauseum taxes in the USA; one quickly learns that We the People are being screwed big time. Factor in that end consumers are paying corporate taxes too in the prices charged to us. No company in their right mind doesn't factor in taxes, etc as a cost of doing business when determining the prices to charge for goods and services.

 

[Mike476]

The poster stated " after paying 43% income tax on your salary,"

The 43% may represent the marginal tax rate paid on additional income over certain limits. If he is paying 43% Average Rate on total income then he is making enough $$$ to put him in a bracket enjoyed by a very few.

I know the average tax rate for my wife and myself. It is nowhere near 43% and without going into specifics we live quite comfortably.

Acually I stated income tax, full Employment Insurance and Canada Pension Plan, amongst other deductions. Never said we aren't comfortable, and without going into details my sister in law just started a job in Toronto 2 years ago working for a retail outlet as a sales person making more than I do, so I don't consider myself priviliged by any means. While levels of income affect tax rates, as they should, that wasn't the point.

MJNCAD is right, we have family living in various other countries whose tax rates make ours seem very reasonable, mind you it can sometimes take two or three generations before a family has paid for the family home in those countries.