Quote:
Originally Posted by Fuzz
LOL. No one making $10 million is paying 40%. That's naive. They probably pay less than you or I.
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This is a load of crap - please give me your professional background as to how you can make this comment or alternatively some documented real examples.
My wife is a CPA and a tax practitioner dealing with very high wealth individuals. If they are making $10M in a year personally, they are paying MORE than 40% in their marginal tax rates. There are only so many levers that can be pulled here in Canada that can reduce your rates - ie. charities, income splitting, personal corps, RRSPs, TFSAs, etc.