The 99% VS The 1%

 

The 99% VS The 1%

“Occupiers” recently popularized the supposed conflict between the top 1% of society, and the

 

rest. Coming out of the publicity is a call for higher taxes so the 1% pay their “fair” share. It

 

remains unclear how taxing the 1% does anything for the others. But, what’s been completely

 

lost in the noise is the fact that our tax system already takes much more from the “rich” than from

 

the “poor.”

 

A large percentage of citizens pay no tax at all; they earn less than the basic exemptions and the

 

many deductions. Among the remainder who do pay tax, the tax burden is very uneven:

 

 

The bottom half of taxpayers (48%) pay one-eighth (12%) of tax collected.

 

 

The top 10% of taxpayers pay 44% of the tax.

 

 

In other words, the ratio between size of the lower half and size of their tax payments is

4:1. The ratio between size of the upper 10% to their share of tax paid is 1:4.5.

 

 

Our tax system isn’t “fair.” It is heavily tilted toward lower income earners, and massively “unfair”

 

to those who earn higher incomes.

WHO PAYS SASKATCHEWAN TAXES?

Income Group

Share of filers

Share of tax paid

<$10,000

1.1%

0.1%

$10-$20,000

11.3%

0.8%

$20-$30,000

16.5%

3.5%

$30-$40,000

19.4%

8.0%

Total:

48.3%

12.3%

$40-$50,000

13.5%

8.9%

$50-$60,000

10.0%

9.5%

$60-$70,000

7.5%

8.8%

$70-$80,000

6.3%

9.5%

$80-$90,000

3.8%

6.9%

$90-$100,000

2.7%

6.0%

$100-$150,000

5.5%

15.9%

$150-$250,000

1.6%

7.8%

>$250,000

0.8%

14.4%

Total:

10.6%

44.0%

Source: Saskatchewan Ministry of Finance

Adam Tondevold

Adam Tondevold

Sales Representative
CENTURY 21 Dome Realty Inc.
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