Highest and lowest taxed countries..

[Tmall]

Remember how you all think our taxes are 300 times higher than yours?

http://www.businesspundit.com/12-cou...est-tax-rates/

Turns out, it's not that different.

[karl_1052]

Too bad that doesn't take into effect GST and HST.

add another 15% is you intend to purchase anything with your money.

[Tmall]

Shush

[shmike]

Originally Posted by karl_1052

Too bad that doesn't take into effect GST and HST.

add another 15% is you intend to purchase anything with your money.

Not to mention that you guys are paying a higher average rate on a lower average income.

I'm not sure how your deductions work but an average income earner in the US with a 27% marginal rate will end up with an effective rate around 12%.

[goof2]

Originally Posted by shmike

Not to mention that you guys are paying a higher average rate on a lower average income.

I'm not sure how your deductions work but an average income earner in the US with a 27% marginal rate will end up with an effective rate around 12%.

Good point about the marginal vs. effective tax rate. I hadn't caught that in the story.

[sherri_chickie]

We may have GST or PST or even HST ( unless you live in Alberta) but I paid a HELL of a lot more sales tax and my house taxes were astronomical when I lived in Texas.. Plus I make almost double here than I did teaching there, actually when I figured it out just now, I take home double.

[shmike]

Originally Posted by sherri_chickie

We may have GST or PST or even HST ( unless you live in Alberta) but I paid a HELL of a lot more sales tax and my house taxes were astronomical when I lived in Texas.. Plus I make almost double here than I did teaching there, actually when I figured it out just now, I take home double.

Texas property taxes are very high.

As far as sales tax:

You live in Alberta, the only province without a PST.

Even so, the sales tax there is 5%. It is 6.25% in Texas.

If were are paying a HELL of a lot more sales tax in Texas then something was wrong.

Most provinces have combined sales taxes between 12% & 13%. That is a HELL of a lot more than Texas, or most states for that matter.

[sherri_chickie]

I paid 8.25% sales tax but I think that a portion of that was a Harris Country or city of Houston tax.

And you are totally right about the sales tax in most provinces.. which I why I never shop when I go anywhere.

I paid 4x the tax on my house in Texas than I do for my house here which is valued at double my house down there.. OUCH. ( mind you I got 1/3rd of the house for double the money, so... hmmm)

But I do like that I make and take home a lot more, but teachers in the states are wayyy underpaid! ( threadjack)

[shmike]

Originally Posted by sherri_chickie

I paid 8.25% sales tax but I think that a portion of that was a Harris Country or city of Houston tax.

Yeah.

8.25% is the state max. The additional 2% was from the local county/city/etc.

I'm glad to hear that teachers up there are compensated more reasonably. I wish it was true here.

[101lifts2]

Originally Posted by shmike

Not to mention that you guys are paying a higher average rate on a lower average income.

I'm not sure how your deductions work but an average income earner in the US with a 27% marginal rate will end up with an effective rate around 12%.

Yep...with my writeoffs, my effective rate was 12% this year.