The average Canadian family spent 42.5 per cent of their income on taxes last year, more than they spent on housing and other expenses combined, according to a new report from the Fraser Institute.
"Many Canadians may think housing is their biggest household expense, but in fact the average Canadian family spent more on taxes last year than on life's basic necessities – including housing," Charles Lammam, director of fiscal studies at the Fraser Institute, said in a release Thursday.
In 2016, the average income for Canadian families was $83,105, and they paid $35,283 in total taxes compared to $31,069 on housing expenses, food and clothing combined, the think tank calculated.
To break it down further, Canadians spent twice as much of their income on taxes (42.5 per cent) than on housing (22.1 per cent), the Fraser Institute said.
The big government tax and spend days will soon come to an end in Canada.
The Mathematics of the socialist nanny state simply does not support this level of spending.
Canadians revel in their "free" universal health care system, that is eating up 50% of government budgets annually, while the quality of service it provides continues to decline.
One has to ask the question, as the population ages, how high will (or can) taxes go to support the current system.
Our estimation is that taxes are so high presently, that any increase will decrease the amount of government revenue as the population vigorously seeks tax havens.