This is my first post on The Urban Country. Jim has his way with words and ladies and I will do my best to be as fluent and exciting as him in my first guest contribution.
A financial advisor tries to knock some common sense into readers by explaining that higher taxes are only charged on amounts over $250K, but more quotes keep water-falling from rich people that are just dying to decrease their incomes.
Two quotes in this article make me appreciate Canada and the taxes we pay here:
“We are going to try to figure out how to make our income $249,999.00,” she said. “We have to find a way out where we can make just what we need to just under the line so we can benefit from Obama’s tax plan,” she added. “Why kill yourself working if you’re going to give it all away to people who aren’t working as hard?”
“Why kill yourself working if you’re going to give it all away to people who aren’t working as hard?“! This quote pertains to the fact that the new taxes will pay for Obama’s healthcare reform. This sentence makes me realize how much I love Canada. We get free universal health care here and we pay progressive taxes just like the USA. I am perfectly happy paying higher taxes to pay for the health of a stranger on the street, knowing that tomorrow that stranger will pay for my health.
“The motivation for a lot of people like me — dentists, entrepreneurs, lawyers — is that the more you work the more money you make,” said Poczatek. “But if I’m going to be working just to give it back to the government — it’s de-motivating and demoralizing.”
It’s probably not a sweeping statement to say that America is a capitalist society with an all-about-myself mentality. This quote also makes me realize how much I love Canada. Canada is also a capitalist society, though I’ve heard many Americans call us socialists. But what is wrong with helping out your fellow countrymen? It almost seems like the word “socialist” is just seen as derogatory, without putting any thought into what it really brings to a society. I personally like that I get to help out my fellow countrymen who might happen to have greater struggles than me. For example, I will gladly pay higher taxes to make sure that new immigrants to Canada get settled in and find a job in their field. It is not de-motivating and de-moralizing.
Canada’s average income tax is 21% for a family of 2;
- Sweden: 42%
- Norway: 30%
- USA: 12%
Where do these counties place in standard of living?
- Canada: 3
- Sweden: 7
- Norway: 2
- USA: 12
Could there be an association between higher taxes and higher standard of living? This is obviously not a scientific study so giving 6 numbers does not prove any association – but it’s interesting to think about.
So in conclusion, I love taxes. I do not mind paying more in order to help my country give me back more; be it parks, roads, schools, immigrant services, free healthcare, you name it.
But then again, I do not make $250K, so what do I know? But when I do, I will love paying those taxes too.