05.22.2010

Here you go, from the Fraser Institute in Canada.

  • The Canadian Consumer Tax Index tracks the total tax bill of the average Canadian family from 1961 to 2009. The total tax bill of the average Canadian family, including all types of taxes, has increased by 1,624 percent since 1961.
  • Taxes have grown much more rapidly than any other single expenditure for the average Canadian family. In contrast to the jump in taxes, spending on shelter increased by 1,198 percent, food by 559 percent, and clothing by 526 percent from 1961 to 2009.
  • In 1961, the average family had an income of $5,000 and paid a total tax bill of $1,675 (33.5 percent). In 2009, the average Canadian family earned an income of $69,175 and paid total taxes equaling $28,878 (41.7 percent).
  • The average Canadian family now spends more of its income on taxes than it does on the basic necessities such as food, shelter, and clothing. In 1961, the average family used 56.5 percent of its income on basic necessities, while only 33.5 percent of the family’s income went to taxes. In 2009, the proportion of income consumed by taxes had increased (to 41.7 percent), while the fraction of income spent on food, shelter, and clothing had dropped dramatically (to 37.1 percent).

Why Canada?  Everyone that I meet in the USA says: “Why can’t we have the economy (motored by oil), the health care (run by governments) and the economic stability (Run by excessive taxation) like they have in your home country of Canada?”

Canada is another one of the “canaries in the coal mine” about the creeping socialism all over the world.  Greece, Spain, Italy … somewhere down the line is Canada and the USA.

The report continues on …

Including deferred taxes (deficits) means the tax bill of the average Canadian family has increased by 1,793 percent since 1961.

Yikes!  I just don’t get it!  Governments all over have been spending FAR MORE than they can afford, racking up, especially, future pension liabilities for everyone …. then when the economy collapses, we do a bail-out.

Imagine what is going through the mind now of an average frugal German .. who is asked to bail out Greece.  Greeks are living far beyond the means … but will they cuts liabilities? not when Germans will send them cash.

I chatted with a friend last evening who told me that he had a huge sum in municipal bonds. I cautioned him, noting that Central Falls RI went bankrupt this week, and many states SHOULD follow.  His response: “Oh, the Federal government will just bail them out of the bonds get in trouble.”  He said this after a 20 minute rant on the size and invasiveness of government.

We all may be capitalists, but but we like the nanny state.  Until we throw out the bums who would spend and tax us to oblivion, and change this attitude … we are screwed.  But, on the horizon, I expect we will see more Chris Christie’s — honest, straight-talking politicians who aren’t in government to line their own pockets.

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by liberal | Tags: , , Filed Under Finance and Economy, Politics | 8 Comments 

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  2. Nonitucker on 07.19.2010

    The Fraser Institute is a not an unbiased research institute. Try finding an unbiased, peer-reviewed source for your wild claims. And how much do Americans spend on health insurance? ‘Cause Canadians don’t have to spend anything on it.

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