Tag Archives: deductions

My own country – Part 2 – Taxes and other deductions

What’s that saying again? “Death and taxes are a sure thing in life?” Something like that.

Taxes are always a problem no matter what country you’re in. Don’t you just hate tax? I hate them. How much of your salary goes to taxes? Not just income taxes but when you buy merchandise too? I was laid off of work on April 13 from a manufacturing company that was growing despite the decline in manufacturing businesses in Canada. Where I’m currently living, when I was working my total deductions from my gross pay was 28% (approx $430). Almost a third of my gross pay. Disgusting isn’t it?

Included in that 28% is provincial and federal income tax which is 10.3% and 7.9% respectively. That’s almost a fifth of my gross pay. Have you ever wanted to see detailed listings of exactly where all your hard earned deductions are actually going? Having worked in Accounting for the past 27 years I have always wanted to see it. Aren’t we allowed to see it? The government is supposed to be transparent. Can’t we just get the information online somewhere? I’d certainly like to know how much of my money is being donated to some third world country’s poor and starving children instead of our own poor and starving children. (International donations will be another topic)

In my own country all taxes and other deductions would be tracked in a program and readily available to public scrutiny through the internet or other type of media program. If there is a road tax then any tax collected for the road is used on the road. Any water taxes or garbage taxes would be used strictly for those utilities. The salary of the workers, the chemicals, vehicle maintenance etc. Same with sewage tax.

Tax on gasoline. No thank you. I would want my country to be 99% free of gasoline dependency. I for one do not agree on importing oil from countries that support terrorism, child labor, abuse of women according to their religious belief, starvation of their child population, production and sale of illegal drugs, inhumane slaughter of animals for their parts for phony medicinal remedies. The list goes on and on. I’m not sure if a country could be completely free of gas/oil dependency but it would certainly be nice wouldn’t it? Might need oil for lubrication perhaps? I checked online and I saw a partial list of products that need oil. That partial list had 144 items in it. That’s ridiculous.

So if we could do away with gasoline powered vehicles it would be an immense start. I don’t care how it’s done but use battery power, solar power, pedal power or even mental power. Whatever it takes. I’m not a tree-hugger but why destroy the planet with pollution? I recently read a report on the internet that a company “Eole Water” is making water by condensing the air using wind mills. I’m not sure how economical it is right now but it would certainly be used in my country. Both electricity and water creation at the same time. Perhaps the battery recharger for the electric cars can be powered by wind mills.

The other parts of my deductions are unemployment contributions, health insurance, pension plan and a whole bunch of other provincial and federal scams to suck money out of my life. There would be no medical expenses covered by the government whatsoever. If you want medical coverage then get covered by a private plan. Medical coverage would be optional but if you get sick and don’t have coverage then you have a problem. I’m not sure if a single private health insurance company would be better than multiple companies. Since drugs (including cigarettes), alcohol and probably sugar (sugar is discussed in another section) would be banned the medical costs would be significantly lower for everyone.

Sales tax. Don’t we just love sales tax? In my 27 years working in Accounting I’ve been exposed to many taxes. Do you remember the 13% federal excise tax? Then the GST replaced it. Then the HST came in. So you have income tax and deductions at source and then you get nailed with sales tax. Here in Quebec that’s another 13% perhaps? GST and QST combined in Quebec. I looked online for the rates in Quebec and couldn’t get a straight answer after a few minutes of looking on the Quebec tax site. Figures.

If I had a sales tax there would be only one. Even if there were “provinces”, “states” or “counties” I’d still have only one sales tax. Again, this tax revenue would be readily available to the public so they can see where it is being used. The taxes would be tracked and split up by whatever “territory” needed it.

And then there is tax money used for imports of goods that can’t be produced internally. Oil would certainly not be a problem now. But there is always something needed or at least wanted. Whether it is essential like food or a luxury like computers or silk. This would be another readily available detailed report. Even if we trade a commodity instead of paying for it with the tax revenue, it would still be tracked and readily available to public review.

I’m sure you have heard of the poor being taxed more than the rich and also companies that pay little in taxes because of loopholes or incentives. That wouldn’t happen. No way. All people are taxed starting as soon as they are working. Age, marital status and dependents would have no exceptions. Straight tax for everyone who is working. No company incentives. No loopholes.

Corporate and business taxes details would be confidential. Only the tax revue board would have access to a company’s records for tax purposes. The public can see the total of the tax but not the details.

 

Next topic for My own country will be citizens and families.

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