Quote:
Originally Posted by Reaper
Congratulations. This is the dumbest thing I've heard today. How high do you think the PST would have to be to compensate for no income tax?
"We are implementing a 14% sales tax and eliminating provincial income tax."
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After thinking about consumption tax vs income tax I think I would be all for a consumption tax replacing income tax. We are actually a pretty frugal family without a lot of excess consumption and I think the consumption tax would have to be upwards of 25% for me to reach my current income tax amount. We would come out well ahead financially.