Rod: Canadian tax rate: 50% + Surcharge taxes (Varies) (15%-29% federal + 5%-21% provincial + $0–$900CDN Health Premium + Surcharge Taxes
US tax rate: 55.9% (max of federal+state+local) 10%-39.6% (federal) +
0%-13.3% (state)+
0%-3% (local)
Both the rates are max. My rate is about 15% FED, 10% STATE (INCLUDING SALES TAX) and about the 3% for LOCAL. Works out to about 28%.
Now last time I was in Canada the sales tax was unbelievable! The exact same item 20 miles south of the border was 1/2 the price! You are paying the taxes but don't see it. I'm paying 6.5% sales tax in my state. I think this is a case of what you have heard, not necessarily what's actually happening. The only folks paying that 55.9% are people making in the excess of 600,000 dollars a year. That's a far cry from the about 28% I'm paying.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
... [Read Article]
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