For example, if the current 5th income tax bracket in BC (which only affects people earning more than $103,000 a year) were to increase from 14.7% to 17%, the province would raise about an additional $375 million a year. Notably, under this scenario, most people making over $103K would see only modest increases in their taxes. Heck, even someone making half a million dollars a year would see an increase in their tax bill of only about $9,000 (or 1.8% of their total income).
Alternately, if the government created a new tax bracket that kicked in at incomes over $200,000 a year (set at 21%), it would also raise over $300 million. That would only impact the wealthiest 1% of BC taxpayers.(PolicyNote.ca)
- #greentomatoes chutney. Anyone have a family recipe? #harvest time| 13 hours ago
- @MalcolmNance @maddow @JoyAnnReid She couldn’t be worse than current POTUS but really? He pov & image is crafted foil not true leadership.| 14 hours ago
- Via @BCTLA Points of Inquiry includes suggested benchmarks for elementary. currently under revision/new/revised curriculum. #bctla| 15 hours ago
- Doc —From School Library to Library Learning Commons…—has been updated, new version should be available in time for the #bctla PSA| 15 hours ago
- My #TL friends .. BCTLA is participating in the BC PSA Superconference bctf.ca/bctla//pub/pd/… #bctla| 16 hours ago