this post was submitted on 09 Jul 2023
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I'm in the lowest tax bracket. I only made about $34k last year. The amount of income tax I paid was equivalent to about 25% of my total wealth.
Calculate 25% of your total wealth. How would it feel to pay that much in taxes? Because that's how much I paid.
Fuck income tax.
What province do you live in?
How much is 25% of your total wealth?
I want to know which province you live in to know what the tax brackets are.
I want to know what 25% of your total wealth is so you can be confronted with number and forced to think about what it would be like to pay as much tax as I do.
My friend, I'm not against you. I don't know why you're acting like this.
Everytime I bring that figure up, everyone questions my wealth and my income and my taxes, but nobody reflects on their own wealth and what it would be like to carry the tax burden I'm saddled with.
That's point of the statement: to make you consider just how large and unfair my tax burden is. Especially in comparison to people who are many times richer than I am, yet have a tax burden that is a mere fraction of mine.
Of course we question your revenue!!!
You claim that you pay 25%, yet don't reveal your income and province. And what is that 25%? Is that average tax or marginal? If it's average, that means that you make well over 100k per year! Anyone can find that out using an income tax calculator online.
Bro TOTAL WEALTH. 25% of my TOTAL WEALTH. It's less than 25% of my income, because my total wealth is less than my yearly income.
Marginal or average brackets have nothing to do with it because I'm talking about the tax burden I have relative to my TOTAL WEALTH.
This is why it's frustrating. Everyone ignores the single most important part: this is about TOTAL WEALTH.
TOTAL WEALTH.
TOTAL WEALTH.
Is that clear yet ffs
No it's not clear.
What the heck are you even on about your total wealth???
We're talking tax brackets on income tax! Or taxing people based on revenue.
What does your total wealth have anything to do with this? Heck, I own a bunch of shit, some is more valuable, it's part of my total wealth, but I sure ain't taxed on it because THAT'S NOT HOW INCOME TAXES WORK!