You're misunderstanding what excellence meant. He said that the amount of taxes you pay should never exceed the after-tax income you take home, which boils down to "the effective tax rate should never exceed 50%".
For example "if you earn 1000 dollars, you should always take home at least 500 of them".




Anyway, can we at least all agree that income taxes are a secondary problem to the undertaxation of capital gains?

This post was edited by Black XistenZ on Sep 12 2020 03:10am

I said no such thing

of course not, but they shouldn’t eclipse 50% at any point of the progressive tax tier. i dont think any dollar earned should result in someone taking home less than half of it.

Its fun to watch liberals debate economics when they don't even know what an opportunity cost is.

lol this is hilarious my friend

This is a common deduction for most countries.

In Canada each province has its own rates that then get added to federal rates. We have provinces with over 50% taxation.

Big supprise, they're the ones that are significantly worse off. No one wants to eat 53% tax if they're about to take a pension payout. You don't have to earn that much to have the highest marginal rate either. I think in Nova Scotia this year it's like 160k of taxable income maybe.


50% over 150k 54% over 214k in Nova Scotia for 2020. Absurdly high compared to some other provinces.

This post was edited by SBD on Sep 12 2020 09:56am

while im somewhat fine with the tax rate tiers ramping up quicker in a progressive system 50% rate over 150k is absurd! what the hell!