What percentage of cash income does the speaker claim goes to taxes?

Jayson LoweAscendant Financial

Where does Almost Half of Your Income Disappear To?

26 Jul 2023 · 1 min

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A YouTube video (by Jayson Lowe, July 26, 2023) discussing the aggregate tax burden on Canadians. The speaker lists multiple tax types (payroll, sales, property, profit, etc.), states the data were simulated from a general survey of Canadians, and claims that roughly 43% of cash income is paid in taxes. The segment questions whether government services justify this share.

Questions this video answers

Approximately 43% (speaker: "If 43%, if not more, goes to the government...")

Chapters

Again, this is just based on a general survey across all of Canadians, and it was simulated. Data shows that it's not just income taxes. There's payroll taxes, there's sales taxes, there was property taxes, profit taxes, and all these other ancillary taxes. If we add it all up, it's 42,005, 47. That brings total cash income. If we look at the cash income, 99,343% of that is what is the percentage of taxes paid on that income? So if 43%, if not more, goes to the government as payment for services that they provide for the citizens, maybe it's some time for you to reflect. Have your services from the government gotten any better? You're working more, you're paying more of your share of your income to the government.