Quote:
Originally Posted by The Fonz
He lost me at 2:25
% of Wage Lost for Canadians (to all taxes + insurance premiums) is 11%? I’m gonna need to see the math on that, cause I don’t know a single person who is employed that is that low.
|
Yeah... he flubbed on that one. The 11% comes from the OECD report here:
https://www.oecd.org/tax/tax-policy/...y-payments.pdf
But the OECD was ONLY ONLY ONLY measuring forced payments that are NOT taxes. The major example he was using was US Health premiums. Similarly, at my job, I have to pay - no choice - I have to pay my share of my dental insurance. I was reading the web page he cited for that number and there are some pretty strange ones. In Sweden you have to pay the Church of Sweden for burying someone. It's the law. In Denmark you have to prove you have insurance that covers workplace injury. In Canada we have very few - I willing to bet the OECD included EI and CPP although some people consider them as taxes.
That 11% does NOT include taxes. It is "mandatory payments we have to make outside of taxes". And if you think 11% actually seems high, the OECD included other benefits in determining total income. So since my employer pays the other half of my dental insurance, that other half is included in my income for OECD purposes.