Quote:
Originally Posted by yads
From here
Total Income Taxes in 2005 were $153 billion
This link tells me that Canada collected 3.5% of their GDP in corporate taxes in that same year so that would be almost $48 billion. ( http://www.sjsu.edu/faculty/watkins/canadagdp.htm)
I couldn't find any conclusive data on how much tax is paid by the various income levels. In the US the top 1% paid 34.4% of the federal tax share in 2001. If we assume similar numbers in Canada in 2005 (probably a poor assumption, but I would wager the numbers are close). That gives us $36 billion (34.4% of the remaining $105 billion).
So in total corporations and the super rich paid $84 billion in income taxes which is about 55% of the total income tax revenue. |
Well done!
Now it would be important to also find out what these companies are and the tax brackets.
http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html - this is 2009
- 15% on the first $40,726 of taxable income, +
- 22% on the next $40,726 of taxable income (on the portion of taxable income between $40,726 and $81,452), +
- 26% on the next $44,812 of taxable income (on the portion of taxable income between $81,452 and $126,264), +
- 29% of taxable income over $126,264.
It is fair to say here that the rich are to pay more. However it also says
taxable income. Claims in loses, write offs and tax tricks which can lower the amount paid as well.
Would it be fair to say the rich and the corporations can pay even less that 29% on income? So in a sense the number you posted should be higher? (I myself usually paid 10% in the past.)
What about the corporations that rely on making money through Canada's resources and selling it back to the population? I know this part is off topic. Should they be paying more in tax?