Originally Posted by Bob120
Paul, I would be happy to trade tax bills with you. In Ontario we currently pay Provincial tax of 8% and Federal tax of 5% for a total of 13%. On July 1st this year these will be replaced by a new Harmonized Sales Tax (HST) that promises to lead to an increase in prices for many products and services. For example, it is expected that on July 1st the price of a litre of fuel will increase by 7%. All additional tax on tax.
I wonder how much more I would have paid out on stuff over the years if I had to pay PST, or into the future if we had the HST coming in. I bet it more then paid for my Escape trailer.
edit: I just did a quick calculation of paying 7% tax on $30k/year of taxable spending for 30 years.....YIKES......$63k......WOW.....and I am being very conservative in my numbers.
2017 Escape 5.0 TA (someday soon, I hope
2015 Ford F150 Lariat 3.5L EcoBoost
2009 Escape 19 (previous)
“Most folks are about as happy as they make up their minds to be.” — Abraham Lincoln