Monday, September 24, 2007
Top 5% of income
Pity the poor Canadians.
Not poor- as in broke. Poor because their economy labors under the bloated burden of a high-tax regime needed to support it's struggling welfare state. That's a mouthful eh?
Well Statistics Canada just released figures showing that the top 5% of earners here, lag way way way behind the top 5% in the United States.
In Canada, get this, you're officially rich if you make more than $89,000 per year. Gimme a break.
By comparison, in the more lightly tax-burdened U.S., the top 5% starts at $165,000.
Don't expect any huge improvement in that comparison in the years to come either. As I've remarked earlier, Canadians have been thoroughly brainwashed into thinking of Government as the Mother of All Solutions. If the voters don't catch on to this whole 'cause and effect' thing, the nation will end up taxing itself into penury trying to pay for new and better government solutions to whatever ails us.