Information on Canadian federal tax rates here.
Information on US federal tax rates here.
From my post:
Our private insurance (through my husband's employer) that covers the things health care doesn't is about $70 a month. That's %80 of drugs, dentist visits (%50 for major stuff like root canals), etc.
Okay, so I just did the math on what a Canadian earning $37, 885 would pay in federal taxes as opposed to an American.
Here's what I found...
Canadian tax - $5682
American tax - $5273
So the American rate is lower...But my gosh, not by much (someone check my math!). What's a monthly insurance premium in the US?? I'm actually a little stunned. I thought Americans paid a lot less then we do.
Now I'm calculating an income for about $75,000 and it looks like a Canadian would pay about $13, 500 and an American just over $15,000? I went higher. At 155,000 dollars a year the two are still very close at about $35,000 each. I must be doing something wrong...Or I've been listening too much to people who claim Canadian rates are very high.
A later post:
Playing with math again. I just added Nova Scotia provincial taxes (they're in the higher half of provincial income tax rates) to my imaginary person (who's not too bright and doesn't deduct a thing) who's earning $37,885 and that brings their total tax load to a whopping $9384. I don't know what kind of state income taxes you guys pay so I'll leave that out. I'll say the person has a comparable health insurance plan to what our family does (it's about average for a family rate and around, I think, what a single person would have to pay if they had to do it themselves, not through an employer) do which would be $840 annually.
Total taxes and health insurance for the Canuck - $10,224
For the American earning the same amount (and who doesn't deduct anything) plus XXXX's coverage (it was sort of in the middle of our sample - $544/month) - $11, 801
I don't really have any further comment. Just thought the figures were revealing and others involved in the health care debate might be interested.