on Effective AND nominal rates USA vs Canada.
USA:
Income: 38
State Income: 10
Cap Gains: 36
Corporate: 46
Estate: 40
Canada
Income: 29
Provincial Income: 15
Cap Gains: 22
Corporate: 27
Estate: 22
Because Canada has such low Capital Gain and Corporate rates, high
net worth individuals are able to lower their tax liability dramatically
by funneling income through corporations. In the US, this is not as
useful – the US has one of the highest corporate tax rates in both the
world and OECD.
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