Quote:
Originally Posted by Socks
So if you make $40k a year which is a reasonably decent salary, more than a lot of people make, you're getting taxed at 20%, and getting 5% back on the first-$10k tax free. And for that you get free healthcare.. Is that such a terrible system?
|
I already stated in the other thread that Canada is a better place to be if you are poor OR lower middle class and 40-50K a year is lower middle class.
Americans who make 40K or less I believe pay NO income tax.
And you're wrong about the top marginal income tax rate in Canada - it is 50%. You must be mixing up average tax rate and marginal tax rate.
Financially the US is better place to be IF you are moderately successful - and IF you are moderately successful that means you can afford decent medical insurance and you will get better/faster treatment in the US.
The differences in the two countries is closing - the US is becoming Canada 2. Healthcare reform will inevitably end up with a single payer system like Canada's, eventually there will be a national sales tax like the GST and VAT taxes in Europe.