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The thread is about marginal rates. My actual average tax rate right now in Quebec is a bit over 30%
by graeme 10y ago
The thread is about marginal rates. My actual average tax rate right now in Quebec is a bit over 30%
- loeg 10y agoRight. My marginal rate in the US is 29-35% (with Medicare tax/surtax) but my average rate is more like 21%.
- rm999 10y agoI see... I guess I'll just point out what you may already know: the way you guys are framing this discussion is really flawed. Marginal rates have no meaning without discussing brackets (and other important details), which can be quite different in different countries. Effective tax rate distributions are the only meaningful way to compare different countries' rates. As an analogy, it would be like comparing Buffalo's weather to San Diego's based on the average high temperature in the summer (which may lead you to believe Buffalo is hotter than San Diego).
- graeme 10y agoTrue. I hadn't realized how much higher the top us brackets are compared to Canada. Higher income levels that is.