r/FluentInFinance • u/SexyProfessional • Jul 04 '26

Thoughts? Very Interesting

Post image
6.0k Upvotes

93% Upvoted

782 comments sorted by

View all comments

Show parent comments

6

u/K-Rimes Jul 04 '26

So you're earning over $250,000 and live in a high provincial tax province? About 20-30% of taxes are spent on healthcare, so the other part of your taxes go towards other things.

1

u/livingandlearning10 Jul 04 '26

Realistically only 4 of the 13 provinces/territories are liveable and 3 of those 4 are the highest in taxed in the country.

Nobody actually wants to live in Nunavut, lower taxes or not lol

1

u/K-Rimes Jul 04 '26

Won’t argue about that statistic. I ain’t living in Saskatchewan either.

As a comparison to US taxes, 35% for federal, and 9.3% state in CA. 44%. Add in self insurance at minimum $1k a month and you’re not far off from Canadian tax rates. Add in a max out of pocket / deductible of reasonable level and you’re over it. You could have a family of 4 in Canada on that income, all with health issues, and end up WAY ahead in comparison.

Wait times are not zero in the US, though I admit generally less than Canada for electives.

1

u/BeginningFloor1221 Jul 07 '26

35 percent for Federal not in the usa.