Canadians Spend More of Taxes Than on Food, Clothes and Housing
August 24, 2016 Taxation in USA
VANCOUVER – Over the last 55 years Canadian families’ expenditure on taxes has jumped by nearly 2 000 percent, and now they spend more on taxes than food, shelter and clothing combined.
On August 23rd the Canadian think-tank the Fraser Institute released the results of its annual Canadian Consumer Tax Index, showing that taxes make up a greater proportion of a Canadian household’s income than spending on necessitates.
In 2015 the average Canadian household spent 42.4 percent of its income on taxes, however, over the same time period the spending on necessities such as food, shelter, and clothing reached only 37.6 percent.
In comparison, over the course of 1961, the first year for which the study was conducted, the total spending on taxes made up 33.5 percent of an average family’s income, while spending on necessities was 56.5 percent.
The proportionate increase in taxes paid was attributed to a disproportionate increase in tax burdens, as since 1961 the expenditure on food, shelter and clothing has risen by 645 percent, 1 425 percent, and 746 percent respectively, while expenditure on taxes rose by 1 939 percent.
Photo By: Duckie Monster