Trump threatens immediate 25% tariffs on Canada

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CpnCrunch
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Re: Trump threatens immediate 25% tariffs on Canada

Post by CpnCrunch »

JustaCanadian wrote: Sat Mar 15, 2025 12:55 pm

You say taxes are basically the same, but it’s very easy to google a tax calculator if you live in a Canadian province or US state. Punch some numbers in and you end up with an extra 24k in your pocket in Florida vs Ontario. An extra 2k a month in your pocket is substantial, not nearly identical.

Do employers not offer health coverage through work? Would you even pay this out of pocket? Probably not. So the extra 2k is for you, not health insurance. But no, I don’t welcome annexation. I welcome a government who will stop spending on frivolous programs and end the ridiculous amount of taxes we all spend.

Ontario vs Florida, 200k income is where I found the 24ish k difference in taxes.
It obviously depends on the state/province, whether you're married (in the US you can combine taxes with a spouse, reducing overall tax liability significantly if one earns more), and it depends on the exact tax bracket. If you look at $100k salary comparing BC to CA, there is a C5k difference. Back when the exchange rate was 1.33, the difference was C$3k, which is a lot less than the cost of medical insurance (which your job may or may not pay for).

I think everyone wants an end to frivilous spending, and both the US and Canadian govts have done their fair share. The US is in a worse fiscal position than us, due to their high decifits and debt, partly due to taxes being too low.
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BigQ
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Re: Trump threatens immediate 25% tariffs on Canada

Post by BigQ »

The Laffer curve: Low taxes = high productivity

Canada has a low (and declining) productivity problem... Maybe it's because of our high taxes.

US has a spending problem. Corruption, Nation building, unfettered immigration, etc
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pelmet
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Re: Trump threatens immediate 25% tariffs on Canada

Post by pelmet »

pelmet wrote: Wed Feb 05, 2025 1:40 pm I still think we might be able to benefit from all this with new pipelines, change to the Dairy marketing board, and increased natural resource development.


https://www.msn.com/en-ca/news/canada/w ... Do#details
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