Quote:
Originally Posted by opendoor
True, but don't forget that it was the middle earners who got all of the benefit from the recent federal tax cuts. Someone earning $75K is saving about $5-600 in federal income tax for 2016 compared to 2015. And if that earner has children, they're saving far more than that compared to years past.
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I'm not sure this is actually the case. Exhibit A is myself:
1. federal taxes reduced slightly but probably offset by Alberta removing the flat tax. No real net benefit
2. new child benefit marginally better than the previous one. Net difference to our family is about $50/month. So I'll give this one to Justin on a technicality.
3. Increase in CPP premiums over the next few years - several thousand $$$/year. Huge negative to our finances.
4. Loss of income slotting - negative financial implications for my family.
So overall we are likely worse off than before, and we are a severely middle class family.