Top 20 per cent pay 61 per cent of Canada's income taxes, 'more than their share': study
Canada’s top income earners pay more than half of the total taxes collected by all levels of government, according to a new report from the Fraser Institute.
The report notes that increasing taxes on the wealthy is often pitched as a populist measure, with progressive politicians claiming the rich don’t pay their fair share, and that fiscal problems can be solved by boosting taxes on the wealthy.
In the last federal election, for example, Jagmeet Singh’s New Democrats proposed a special tax for those earning more than $10 million per year.
However, the report, which uses a tax simulation the Fraser Institute developed, says that the 20 per cent of Canadian families with an income of more than $227,486 actually pay 61.4 per cent of income taxes and 53 per cent of the country’s total taxes. That would include taxes such as payroll tax, sales tax and property tax.
https://montrealgazette.com/news/politics/income-taxes-canada
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Fraser Institute is a right-wing think tank, so take it with a grain of salt. Still, over 50% of all taxes is less than I expected for the top 20%. Normally you hear top 1% or top 10% being cited.
= new reply since forum marked as read
And the Montreal Gazette is owned by PostMedia, a RW rag 66% owned by US media conglomerate Chatham Asset Management-the $4.3 billion hedge fund that owns the National Enquirer & whose lawyers include none other than Michael Cohen - who handled Stormy Daniels' hush money for Donald Trump
References:
https://en.wikipedia.org/wiki/Postmedia_Network
https://www.bnnbloomberg.ca/at-hedge-fund-that-owns-trump-secre
Here is the actual breakdown from Revenue Canada, with half of all tax revenue coming from personal income tax (ie the 99%):
