Taxes; Google foo not working for me.

[pikergolf]

I am interested in knowing what percent or total taxes I was paying in mid 1980's compared to now. Not just income but total taxes. My Google Foo is not working for me today, anyone help me out?

[no-regard]

I'm sure you have your reason for wanting to know, and I'll be following along to find out as well, but are you sure you want to find out something so depressing!

[FCLightning]

Try here. https://www.canada.ca/en/revenue-age...ges-years.html

[pikergolf]

Originally Posted by no-regard

I'm sure you have your reason for wanting to know, and I'll be following along to find out as well, but are you sure you want to find out something so depressing!

The reason I want to know is that I want to talk to young NDP supporters about why it is harder for them to get into a house. They always want to blame old white people and I have a strong hunch that they should be looking at the tax burden the socialist governments they keep electing taxing them to death. It would be cool to be able to say when I bought my house, this was my tax burden, and this is your tax burden now.

[pikergolf]

Found what I was looking for. Interestingly was not what I expected, not nearly as dramatic in difference as what I was expecting. In 1981 tax freedom day was May 30. In 2022 it was June 15th, 16 days difference. On an family income of 100,000 that works out to 4380 dollars a year more taxes in 2022 compared to 1981. Still a big number but I was expecting higher.

[elkhunter11]

Originally Posted by pikergolf

The reason I want to know is that I want to talk to young NDP supporters about why it is harder for them to get into a house. They always want to blame old white people and I have a strong hunch that they should be looking at the tax burden the socialist governments they keep electing taxing them to death. It would be cool to be able to say when I bought my house, this was my tax burden, and this is your tax burden now.

It's not just the tax burden, it's also the high interest rates, due to inflation from the carefree spending by our socialist government.

[FCLightning]

Originally Posted by elkhunter11

It's not just the tax burden, it's also the high interest rates, due to inflation from the carefree spending by our socialist government.

Not sure that argument would fly either, given that in 1988 I paid 15% interest on my mortgage. And then it went up.

[no-regard]

Originally Posted by pikergolf

Found what I was looking for. Interestingly was not what I expected, not nearly as dramatic in difference as what I was expecting. In 1981 tax freedom day was May 30. In 2022 it was June 15th, 16 days difference. On an family income of 100,000 that works out to 4380 dollars a year more taxes in 2022 compared to 1981. Still a big number but I was expecting higher.

That's an excellent idea.
I as well am surprised at the numbers. Our dollars certainly don't go as far these days, and wages haven't increased at the same rate as expenses.

[hogie]

Don't forget the taxes after you have paid tax off your paycheck. I believe it's around 45% into total now. We get taxed to every dollar earned and spend as well. GST on every dollar spent, carbon tax that the way they did it they charge GST on it as well. Fuel tax on top of carbon tax. Property tax, EI, CPP . I'm sure there are many more taxes to go along with the ones listed.

The more you work hard to do better for your family the more they tax you as a reward. Then deny any tax breaks, child tax breaks or anything that they can because they have decided that you make too much.

[waldedw]

Originally Posted by FCLightning

Not sure that argument would fly either, given that in 1988 I paid 15% interest on my mortgage. And then it went up.

Absolutely in the early 80's I had business loans on my oilfield equipment that were as high as 22% and in the late 80 and early 90's my mortgage rate was 13.75% if those rates were to come back today the economy would collapse never mind a recession.

[elkhunter11]

Originally Posted by FCLightning

Not sure that argument would fly either, given that in 1988 I paid 15% interest on my mortgage. And then it went up.

House prices were much lower in the 80s, so you paid high interest, but on a much smaller amount. In 1991, I paid high rates, but my mortgage was $65,000. How many people could afford a 15%, or 18% mortgage on $500,000?
And when you consider taxes and inflation, you need to factor in the carbon tax effect on inflation, not just the actual tax rate.

[hogie]

https://www.google.com/url?sa=t&sour...2YlESEBNX9oaPI

Article on taxes.