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Tax Freedom Day?

So this article talks about May 19, 2020 being tax freedom day for  Canadians.

Tax Freedom Day is the day you stop earning money for taxes and start earning for yourself. This Tax Freedom Day idea does seem a bit wonky to me.

“It can be difficult to convey to those who have never experienced a high tax burden what it truly means. Almost half of the income I earn is claimed by various levels of government as taxes. I understand that this is the cost of living in a great country like Canada (and a wonderful city like Ottawa), and I am grateful for it. However, I do wish that the cost wasn’t quite so high.”

My brother, who lived in Texas (pronounced Tax-less), used to brag about how little people pay in taxes in Texas. However, they still complain that they are paying too much. It’s impossible to compare.

Well, given tomorrow is Canada Day, folks, enjoy your tax freedom. Now you are making money for your  creditors

My Musings June 2005

  • Tax Freedom Day? Tax Freedom day for 2020 was May 19, which is a month earlier than from 2019?
  • The SMITH Manoeuvre The Smith Manoeuvre is a way to make your Canadian Mortgage tax deductible (the interest on the loan).
  • Humor for a Saturday A little bit of financial humor about God talking to an Investment Broker?
  • Bad Financial Humor I did write about this a long time ago, what I was thinking about.
  • Penny Saved! Some say a penny saved is a penny earned, which is quite true.
  • Real Life Model What if you just put the money you put on lottery tickets in a savings account? Sounds pretty simple eh?
  • People first, then money, then possessions That is the message that you folks should be getting from here, people first.
  • Lotteries? What are you Nuts? Lotteries are for Suckers This is from my first years of writing, but I do like the sentiment.
  • Should I Stay or Should I Go? It’s up to you, as usual. I just lay the numbers out and try to warn you about the things you should be thinking about, I’m not your parents. 
  • Crunch them numbers Is it cheaper to buy a new house with all the bells and whistles, or renovate the house that you are currently in?
  • Costs of a new house What are the costs of a new house? There are a lot of expenses that folks just don’t think of until they are in the middle of it.
  • How much to renovate? How much would it cost to renovate your house? Is it better to buy a new house? All good questions.
  • How much does it cost? Repairing your house is never cheap. Replacing a furnace, a roof, or windows on a house are big expenses, and you need to budget that into your living expenses.
  • This Week When do you Buy a New Home? As my regular readers know, my home is starting to reach the magic age when everything starts to need replacing (it’s about 16 years old). 
  • Unclutter your life! Unclutter your life both in terms of mess, but also in terms finances. If you have a cluttered financial life how do you track everything? 
  • Paying Debt vs Saving : the Aesthetics What are the aesthetics of debt vs saving money ? It is more fashionable to save but to carry a large debt at the same time is remarkably silly.
  • Warranties a Final Thought So, this week we have talked about Warranties and are they worth the money you pay and of course the answer is, “It depends” (don’t you love it when I am weasley?).
  • Warranties and Computers Is it worthwhile to get Applecare or warranties for your technology at home? As usual, it depends.
  • Warranties (again) Warranties can be a god send, but they can also be a ludicrous, useless add on that vendors make money on.
Canajun Finances Home » Tax Freedom Day?

Feel Free to Comment

  1. I think the Fraser Institute is a little off as well, but it still is astounding the amount of money I earn to support a government, oh well, the price I pay to live in Canada


  2. Canadian Capitalist

    Big Cajun:

    I made a post about it available here:
    There is lots of controversy about the Fraser Institute numbers and methodology. I did my own calculations and found that Tax Freedom Day for me was sometime in April. I just think the Fraser Institute numbers are way off base. And I am no left-wing, big government, more taxes nut either 🙂

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