Monday, April 16, 2007

Consumer tax index

Turns out Canadians spend more on taxes than they do on food, clothing and shelter.

The Canadian Consumer Tax Index, 2007, shows that even though the income of the average Canadian family has increased significantly since 1961, their total tax bill has increased at a much higher rate.

In 1961, the average Canadian family earned an income of $5,000 and paid $1,675 in total taxes -- 33.5 per cent of its income.

In 2006, the average Canadian family earned an income of $63,001 and paid total taxes equaling $28,311 -- 44.9 per cent of its income.

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