Amazon Dash Button

Re:Amazon Dash Button by refurb on Tuesday March 31, 2015 @02:58PM (#9299017)

The US tax system offers a lot of deductions. When I first moved here I was paying ~12% in total taxes (state + federal) on $60K worth of income once I took advantage of the 401k deduction, mortgage interest deduction, etc,etc.

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Re:Amazon Dash Button by run4yourlives2 on Tuesday March 31, 2015 @05:04PM (#9299879)

I'm not sure where you came from, but the US system offers more or less the same deductions as other systems. On $60K, the tax rate in Canada for example would be about 15-17%, before credits.

Add your health care costs to that 12% and I think you'll find Canada has the cheaper rate, and you still get to take advantage of many (not all) of the same credits a typical American can.

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Re:Amazon Dash Button by robotresearcher on Tuesday March 31, 2015 @06:15PM (#9300274)

There is no mortgage deduction in Canada. This is a big difference in the finances of many middle class families.

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Re:Amazon Dash Button by run4yourlives2 on Tuesday March 31, 2015 @11:51PM (#9301436)

There's no mortgage deduction in US either. There's a mortgage interest deduction, which I'm sure while significant isn't a major variable in this eqaution overall.

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Re:Amazon Dash Button by refurb on Wednesday April 01, 2015 @12:35AM (#9301636)

Incorrect! Since most mortgage payments are >95% interest in the first few years, you could easily reduce your taxable income by 30-40% without a large mortgage.

You're also forgetting that the US doesn't have a national sales tax or high taxes on gasoline.

I would agree that the highest tax states in the US aren't that different than the lowest tax states in Canada (income tax only), my own person experience tells me that the US, on average, has a much lower tax burden than countries like Canada. And many jobs pay a higher salary.

Also the US brackets kick in at higher incomes. In Canada the highest bracket (29%) is over $136K. In the US, the highest bracket is 35%, but it doesn't kick-in until you earn more than $375K per year.

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