Thursday 31 January 2013

One Tax Rate

I have always been a big proponent of a one tax rate system. It would mean that everyone above a certain income, would pay a flat tax. Loop holes and complex tax calculation systems would be eliminated. It would also mean that the average tax rate would drop. The wealthy and businesses would pay their share, without all the tax advantages they now use. It would also eliminate a large portion of the 27,000 tax Canada workers that spend their time figuring out the taxes you send in. That is a big savings. The money you spend getting your taxes done would also be saved. The fairness in the tax system would also be improved.
If you look at who pays most of the taxes in Canada, you would see that the middle income earner does. They are the majority and can only take advantage of limited tax relief areas. How many middle income earners do you know who max our their RRSP contributions? Just look at which part of society is in the most debt. The middle income earner is in trouble and need help. Decreasing the tax rate and making it more fair would help in this trying time. We have a long way to go before we see improvement, so lets start with taxes.
I mean I'm really...
Just Saying    

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