Loading ...Taxes versus the Necessities of Life: The Canadian Consumer Tax Index 2022 edition
Summary
- The Canadian Consumer Tax Index tracks the total tax bill of the average Canadian family from 1961 to 2021. Including all types of taxes, that bill has increased by 2,440% since 1961.
- Taxes have grown much more rapidly than any other single expenditure for the average Canadian family: from 1961 to 2021, expenditures on shelter increased by 1,751%, clothing by 643%, and food by 790%.
- The 2,440% increase in the tax bill has also greatly outpaced the increase in the Consumer Price Index (802%), which measures the average price that consumers pay for food, shelter, clothing, transportation, health and personal care, education, and other items.
- The average Canadian family now spends more of its income on taxes (43.0%) than it does on basic necessities such as food, shelter, and clothing combined (35.7%). By comparison, 33.5% of the average family’s income went to pay taxes in 1961 while 56.5% went to basic necessities.
- In 2021, the average Canadian family earned an income of $99,030 and paid total taxes equaling $42,547 (43.0%). In 1961, the average family had an income of $5,000 and paid a total tax bill of $1,675 (33.5%).
Even in 61 things were bad. One-third of your income went to support the government.
Amazing that the average family income is 99k. That must often include two paychecks I would think.
You’d think with so much taxation we’d all be living in a world of public luxury like some sort of fantastic video game world. Canada doesn’t spend much on the military, so I wonder where all the money goes?