No. of Recommendations: 5
tecmo asks,

if you have $50K income you are likely spending 1/3 of that on your mortgage; which is not going to be taxed.

Income: $50K (assume this is after income taxes)
Mortgate: $15K
Food: $7,500 (typically GST exempt)


That leaves $27.5K which would probably be taxes at that rate. In Alberta you would probably pay $1375, in Ontario it would be $3575.

tecmo
...

PS: Don't most states have sales taxes as well?


Here in George Bush's Texas we have a high sales tax (8.25% in Houston), High property taxes (up to 4% of market value in some neighborhoods) and high health insurance premiums with high deductibles and co-pays.

Yet many tea-baggers will tell you it's a model for the country. <LOL>

intercst
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