That's only on amounts over $150k. Even if we had a 91% marginal rate like we did under Eisenhower, still nobody would remotely approach a 50% effective rate.

What. Your effective tax rate at 750k is 50%.

I just did the math running it through the tax brackets for Nova Scotia

https://www.taxtips.ca/taxrates/ns.htm

Just toss it into Excel , use the other income % which represents employment income and have a ball.

Or maybe you're intertwining what I said but some how only talking about the US?

If the highest marginal rate was 91% at some point than yes, your effective rate can easily be higher than 50%. How is this not possible? If the majority of your income is taxed at the highest rate which is > than 50% eventually it will be higher than 50%.

What am i missing here?

This post was edited by SBD on Sep 12 2020 07:16pm

yes and it’s still taking more than 50% of a dollar earned which i am against. top rate being like 40% is fine, maybe 45%. i dont think any bracket should surprass that clip

you can do a chart to easily disprove this. come on at a 91% top marginal rate above say all earnings above $1M would result in someone who makes $2M paying $910K on the 2nd million. okay but theyre rich so whatever right

now its true the effective tax rate never breached higher than 42% for the top earners in the USA back in the 1950s, that said im fairly progressive when it comes to taxes but im firmly against any dollar being taxed more than half

https://taxfoundation.org/taxes-on-the-rich-1950s-not-high/

This post was edited by excellence on Sep 12 2020 07:17pm

Learn to deductions.

A deduction is not unlimited. What are you talking about.

I can see you have no clue what you speak of.

Are we in some magic world where you have unlimited deductions to offset the unlimited income , which is what we are talking about here since you said show a scenario.

I did the math and showed where it hits 50% in my area. Someone who just earns that in employment income would have little to no deductions to work with other than RRSP, contributions and maybe some home office which is highly limited by CRA. Deductions and credits would be nominal.

This post was edited by SBD on Sep 12 2020 07:29pm

american right wingers and mental retardation, name a more iconic duo:

in reality, you've actually given us a new word

fendarted

yea i saw the same thing.. are they really that stupid