NDP takes Calgary-Glenmore by six votes

I'm not sold on Justin. His idea of hitting the one percent with more taxes hit households with two experienced teachers as the breadwinners. When you think of the elite rich paying their "fair share", are households with pairs of teachers, engineers, doctors, lawyers, bankers, etc what you think of?

If he wants to hit them, the (total given a flat 10% Alberta rate, adjust to get this for other provinces) top tax bracket needs to be like 45% over 1 million, 43% over 600k, 30% over 250k, 25% over 150k, 22% over 100k, and below that should remain similar to current rates.

Anyone who tells you a household with 200k a year of income is the elite 1% who are stealing from the hardworking poor while sitting on yachts laughing has no idea what they are talking about. I work with people on a daily basis who range from 150k a year to probably over 15 million in a great year from their day jobs alone.

Even if you make 200k a year right out of school, and take home in Alberta maybe 130 of that, and somehow save 50% of it every year, that's 65k a year. With contributions to tax sheltering investment vehicles, get some back and put away maybe 70 or 75k a year. With decent compounding interest and assuming nothing goes horribly wrong in your life, you'll be lucky to retire with a few million bucks if you work for the next 35 years, the safe 4 percent you can withdraw will be maybe in the mid 100ks per year, in 35 years from now when a loaf of bread could cost $10 depending on inflation. And like I said that's averaging 200k a year over your entire working life. That's like starting at 100 and hitting 300k a year by retirement.

Now tell me, is that the person who you see influencing politicians, widening the wealth gap, squirrelling away more than they could ever spend?

The government is turning the folks who work a job for 50k a year against their own doctor who makes 150k a year, and the people at the top continue to move billions around behind the scenes.

I'm not your enemy, I'm not trying to "keep you down". I'm just trying to make it so that next year I don't pay over a third of what I make to income taxes, not counting other deductions.

/r/Calgary Thread Parent Link - 660news.com