George Zhou

I'm a child of the Most High God, a grateful husband, and a proud father of three trying to live faithfully in this chaotic world.

[M.A. - "The Miller move OG... IYKYK" @LayThemBare]

#BREAKING: A #Canadian's Tax Journey

I am going to layout the tax journey for someone who's just made $240,000/year in the private sector

(Attached below are the tax rates for both federal and provincial - Ontario in this case)

Ok, you (Canadian) just made $240,000 of income and you are super pumped. You've never made this kind of money before, and you think you've struck it rich...

Welp, let's see if that's true...

$240,000 of employed income is taxed at two levels

Federally if you make income of $235,675/year or greater, your tax rate is set at 33%

Provincially (Ontario) if you make income of $220,000/year or greater, your tax rate is set at 13.16%

So, on that $240,000 of employed income generated in Ontario, you will be taxed at...

46.16% of that income in total, which is

$240,000 x 0.4616 = $110,784 in total income taxes

YA, $110,784 IN FCKING INCOME TAX - Poof gone

So, $240,000 - $110,784 = $129,216 in after tax income

Wow, so right off the batt, that $240,000 of employed income you made, is now:

$129,216 in after tax income

Oh, but what about:

C.P.P. deductions (a.k.a. a ponzi scheme tax)

Well, let's see

$240,000 x 0.0595 (CPP deduction rate of 5.95%)
= $14,280

So, $240,000 - $110,784 - $14,280

= $114,936 left of that $240,000 income

SO THAT'S A ---> 52.11% TAX RATE <----

Now, let's go further...

You now have $114,936 in your personal account.

We need the essentials in life, such as:
-Shelter
-Food
-Utilities
-Transportation

Shelter:

Let's assume you have a mortgage at $2500/month

$2500/month x 12 months = $30,000

So, $114,936 - $30,000 = $84,936

**While there are tax-credits and such all kinds of fees, I will leave out this part on the tax breakdown, and just include the $/year of $30,000

Food:

Now this is a major issue for a lot of people. @DickInAboot_Eh did the work on the cost of food in another thread which I've attached below here

https://t.co/UV9Zj3K6UC

In one month of 2023, Rich's family spent $1,396.21 on food, and that's just a family of 3 people.

Let's take the tax from the food:

$1,396.21 x 0.13 = $181.51 of taxes on food

For round numbers, let's use $180.00/month

$180.00 x 12 months = $2,160/year in food tax

$84,936 - $2,160 = $82,776 remaining...

Utilities:

I will use my monthly costs of my own home, rounded to the nearest dollar.

Hydro: $150/mnth x 12 = $1,800 x 0.13 = $234/year
Water: $120/month x 12 = $1,440 x 0.13 = $187/year
Heat: $55/month x 12 = $660 x 0.13 = $86/year

Total tax/year = $507/year in taxes for utilities

$82,776 - $507 = $82,269 remaining

Transportation:

I will go off of what I spend weekly on fuel.

***Fuel has 5 taxes on it... and about 45% of the before sales tax cost is taxes that get charged sales tax...

I spend about $100/week on fuel for my truck

Now, out of that $100 is $45 of taxes that then get taxed when HST is applied...

But, to make things easy to understand:

$100/week x 52 weeks = $5200/year x 0.13 = $676

$82,269 - $676 = $81,593 remaining

Let's add back the $30,000 of mortgage payments to your income total

$81,593 + $30,000 = $111,593 remaining

**I have left out investments and pension stuff because it doesn't apply to everyone... But I want you to think about this:

You make money, its taxed... You invest money that has been taxed, and than it is taxed once again... Then you set aside a pension payment, which is taxed... Than when you are paid that pension money, it is taxed again...

Your income of $240,000 is only really $111,593...

You've paid $128,407 in TAXES... which is 54% of what you worked hard to make and get paid...

Politicians get to take 54% of your hard earned income, and piss it away any way they want... and when it comes to the Trudeau/Freeland government, those two get to take 54% of your money and payoff their friends and donors, while blaming you for not paying enough taxes... If a politician commits a crime using your 54% in taxes, such as taking 'a cut' of foreign aid, or getting a kickback from their friend's doctor for funding his new state-of-the-art 'care center'......

NOTHING HAPPENS TO THE POLITICIAN...

BUT YOU GET THE JOY OF SOON PAYING EVEN MORE THAN JUST 54% IN TAXES...

I hope after reading this, you begin to understand the insane and criminality of taxes...

We are robbed at a level so high, that Canadians are in the top 5 for being taxed, in the world...

Share this with anyone who thinks paying taxes is somehow a 'good thing'... than explain to them that they are a moron, and not worth your time and energy...

God Bless all of you free thinking, tax hating Canadians,

Mark

***Pic 2 shows that immigrants over 65 get Universal Basic Income (Guaranteed Income Supplement) that us 54% tax payers have to just suck-it-up and 'be ok with' ... FACK!!!!

#CLOSETHEDAMNBORDER

[Martyupnorth®- Unacceptable Fact Checker @Martyupnorth]

Here's Loblaw's income statement for 2023. Just looking at the most recent quarter (Apr-June).

They bought $9.3 billion dollars of goods from producers.

They sold that for $13.7 billion through 600+ stores across Canada

So their profit was $4.4 billion.

Their staff, rent, utilities, advertising, trucking, etc was $3.5 billion. They employ 136,000 Canadians.

Interest on debt was $195 million.

They paid $195 million in taxes (Federal, Prov. & municipal)

That left $541 million. The profits are typically redistributed to shareholders (3-5%) and the rest is re-invested in new stores.

It's a typical retail business with miniscule margins.

The Trudeau government burns through $541 million dollars in just 6 hours.

[George Zhou @GeorgeZhow]

@Arbitrum_Drops MOON

[** W. Brett Wilson ** @WBrettWilson]

Looks like Mt St Helens.

Where are the protestors?

This Mountain wiped out huge swaths of forest. And emitted more CO2 and methane in two weeks than all cars in Canada do in terms of emissions in a DECADE.

No protestors?? Nope. It’s too far from their coffee shop.

[Steve Milloy @JunkScience]

13 million views. Even @ElonMusk commented.

Twitter tried to censor it but just wound up exposing (again) the lying nature of climate alarmism.

Added bonus: My explanation and warming prediction.

https://t.co/8GK2PXbPLv

[George Zhou @GeorgeZhow]

@heyBarsee Free

[George Zhou @GeorgeZhow]

I'm claiming testnet tokens for @zksync v2, an EVM-compatible ZK Rollup!

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[George Zhou @GeorgeZhow]

I'm claiming testnet tokens for @zksync v2, an EVM-compatible ZK Rollup!

My Address: 0xfcf6817a621a59375bf9a069be26df61bce9d63a

Learn more: https://t.co/HcS8X6OoDT

[George Zhou @GeorgeZhow]

I'm claiming testnet tokens for @zksync v2, an EVM-compatible ZK Rollup!

My Address: 0xfcf6817a621a59375bf9a069be26df61bce9d63a

Learn more: https://t.co/HcS8X7602t

[George Zhou @GeorgeZhow]

I'm claiming testnet tokens for @zksync v2, an EVM-compatible ZK Rollup!

My Address: 0xfcf6817a621a59375bf9a069be26df61bce9d63a

Learn more: https://t.co/HcS8X7602t

[LimeWire @limewire]

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[George Zhou @GeorgeZhow]

BUILD ON #USDC: Please send testnet funds to 0xFcf6817A621A59375bf9a069be26Df61bCE9D63A on ETH! @usdcpatron

[George Zhou @GeorgeZhow]

@SuiWallets Yo!!

[George Zhou @GeorgeZhow]

I'm claiming testnet tokens for @zksync v2, an EVM-compatible ZK Rollup!

My Address: 0xfcf6817a621a59375bf9a069be26df61bce9d63a

Learn more: https://t.co/HcS8X7602t

[George Zhou @GeorgeZhow]

BUILD ON #USDC: Please send testnet funds to 0xFcf6817A621A59375bf9a069be26Df61bCE9D63A on ETH! @usdcpatron

[George Zhou @GeorgeZhow]

BUILD ON #USDC: Please send testnet funds to 0xFcf6817A621A59375bf9a069be26Df61bCE9D63A on ETH! @usdcpatron

[George Zhou @GeorgeZhow]

@RiddlerDeFi @LayerZero_Labs @binance @FTX_Official @coinbase @arbitrum @ftx @PayPal @a16 @sequoia @usdcpatron @StargateFinance Hi, I'm stuck on this point what funds am I bridging to stargate? GoerliETH or AVAX? How do I use testnet on Stargate? Thanks

[George Zhou @GeorgeZhow]

BUILD ON #USDC: Please send testnet funds to 0xFcf6817A621A59375bf9a069be26Df61bCE9D63A on ETH! @usdcpatron

[NEAR Foundation @NEARFoundation]

In the interest of transparency with our #NEAR community and given all the uncertainty this week, we will continue to be as open as possible about where NEAR Foundation stands regarding FTX.

[George Zhou @GeorgeZhow]

I'm claiming testnet tokens for @zksync v2, an EVM-compatible ZK Rollup!

My Address: 0xfcf6817a621a59375bf9a069be26df61bce9d63a

Learn more: https://t.co/HcS8X76xS1