Golden Hope Mines

Golden Hope Mines Limited is a junior mining company trading on the TSX Venture Exchange under the symbol GNH and on the Pink Sheets in the U.S. under the symbol GOLHF.

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Re: tax selling-who actually pays?

Golden Hope Mines

almost 14 years ago

in response to positive carry's message

positive carry, I generally love your posts and insights.

But so far as the tax discussion goes, surely the proper comparison has to be how much in taxes a group pays versus how much that group earns.

Saying, for example, that the top 10% pay 41.2% of all taxes may or may not be significant. If that group has 41.2% of all earned income, then that is absolutely fair. If it has 10% of all earned income, it is terrible. If that group has 90% of all earned income, then it is getting a great deal.

In the States, the very top groups DO pay a larger percent in taxes than their share in earned income. For the data, see Table 1 at this link:

http://www.taxfoundation.org/news/show/250.html

The very top 5% has 34.73% of overall income and pays 58.72% of the taxes. The top 10% has 45.77% of the income and pays 69.94% of the taxes.

I'm not making any judgement ... just reporting the numbers.

And I'd love to hear what the Canadian numbers are as I do not have them handy.