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Again with remarks that could be done without. Pointing out facts is one thing, pointing out facts with the intention of being arrogant is another. If it wasn't a recurring theme with you I wouldn't have bothered even replying but it's slightly annoying that you seem to get your jollies by being this type of person.Quote:
Originally Posted by fishman3811
Keep it up :thumbsup:
Actually you might want to get your facts straight Fishman. The US governmental debt as a percentage of GDP is much lower than that of post WW2 America.Quote:
Originally Posted by fishman3811
All countries have a national debt, that was fiat, central banks, as well as fractional reserve banking allows.
It is true its getting out of hand, but its been alot worse.
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:hippy:
I've made this same point in the past. Fact is Fishman, if the U.S. economy goes down, other countries will be falling quickly behind. We ARE the #1 consumer; take away our buying power and these others you've mentioned are stuck with warehouses full of crap...including your own.Quote:
Originally Posted by GoldenBoy812
Have a good one!:s4:
Goldenboy thanks for the info.....Yes every country has debt except China which has 1trillion surplus...But you guys have to pay it down for the good of your country and it doesnt help when your government is bailing out every banker in town,...Daihashi you think im the arrogant one im not the one who thinks i own the rest of the planet maybe you should look at your fellow country men and see who is the arrogant one.....
You just categorized an entire nation of people... and you claim to not be arrogant, condescending or anything else? Then again I guess if someone were arrogant they wouldn't admit to it. They would think to highly of themselves, when they really shouldn't, to see it :hippy:Quote:
Originally Posted by fishman3811
Here is some information for you....
How much is our debt now? Probably about 8 trillion... what is our population? about 300 million.
That puts our debt at about $28k per person (man, woman and child).
Canada has a national debt of $600-700 billion USD. Your population is about 33-35 million?
That puts YOUR debt at about.. estimated.. $21k per person.
Please stop acting like you are so much better than us. You are not that far off yourself. I am aware of your own economic woes, including unemployment rate that is near double digits in some provinces and a national average of 6.1%. You would think with a smaller populace Canada would have their affairs in order. :hippy:
Here's some more information about the US and Canada.
The united states in 2007 had a median income of $49k USD
Canada in 2005 had a median income of $58k USD
Sounds pretty good for canada right?
Well for the median amount listed an income earner can expect to pay about 22% of tax to Canada. Doesn't seem to bad, but then there's the provicial/territorial tax which hovers between 8-11%, so most people in canada can expect to pay about 30-33% tax (I found figures from canada government sites that said average tax paid is about 35%, but we'll stick with my lower number). This does not include sales tax, the excise taxes canada has that we don't and some of which we do (ie gas and tobacco etc etc). I believe in Ontario, and I could be wrong on this, that you have to pay extra for prescription and health insurance. I don't know exactly what that covers but I know it's an extra tax that you guys have.
On the contrary In the United States the average federal income tax paid on the median income listed above is about 20% (I am putting that on the high side.). We do have states that have a state income tax as well... these range from 3%-5%.. putting the total for the median income at about 25%. (which it should be noted that the canadian Median Income would also fit inside this US tax bracket).
So when comparing debt per person to income tax and income.. it would appear to me that the United States is in a better situation to handle the debt than Canada even if we do have a SLIGHTLY higher debt per person rate.
And I didn't find any concrete information for the Canadian Median pay. It could be less for all I know, I just pulled the information from a non government website for that.
edit: it should be noted that you have to use Median income and not average. If you average in the rich then it really skews what the average American makes. It should also be noted that my Medians were for single individuals.
I'm sorry.. I made an error..
Single individuals in canada average $17k or so
The Daily, Thursday, March 30, 2006. Income of Canadians
Families with 2 or more individuals made 55-58k.
If you can find some better data please post it. I'm having a difficult time finding really solid concrete information for Single Canadians income.
Here's another article that states 25-26k as of 2005
Canadian Personal Finance Blog » Blog Archive » Who Lives On The Median Income?
It's worth mentioning that the tax rate for a person making about 30k changes to about
7-9%.. I'm not sure if territoral taxes are fixed or progressive, but for arguments sake let's say it's reduced to 4-5% for these individuals.. bringing the total to 11-14% tax on 26k
That's 21k debt for a large demographic whose median income barely goes over that before taxes.. and after taxes that income drops.
Shrug... call my country crap if you will; but remember when you point fingers you have 3 more pointed right back at you.
We agree on our view of Fishman, Dai.
Posts like Fish's singlehandedly are the reason I gave shit in the other thread about people getting involved in other's politics. He has nothing to say except trying to make America look bad. I knew there was a reason I fucking HATED Canadians.....all talk until shit hits the fan like back in WW2. God knows they never would have made it over the seawall at Juno beach if the Germans actually took them seriously.....
To quote one of the best movies ever created:
"Ahem............Fuck Canada."
U.S. Ambassador to the U.N., South Park: Bigger, Longer, and Uncut.