Another Festool price increase?


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I DO NOT want to get into a political talk, but out of curiosity, what are the tax rates in Canada?

 

Not quite as far off US rates as most Canadians think, once you factor in state income taxes.    Canadians tend to compare Federal+Provincial, which can get you to around 43%, to US Federal, where the highest marginal is 35%.  But for someone earning 100k (ignore exchange rates, assume equal), Federal Canada is 26%, Federal US is 28%.   The US curve is a little more forgiving, but on the other hand, the IRS goes as high as 39%, Canada stops at 29%.

 

One big difference comes from provincial versus state - Canadian provinces are clustered together, so effective marginal rate on 100k varies between 44% and 38%.  In the US, there is a massive difference by state, from 0% states, to flat tax states, to high tax states like NY and CA which end up very close to Canadian.

 

The other big difference is deductions - being able to deduct interest on mortgage expense makes a huge difference.  Not always one that makes much sense to me, I figured out once that if I rented an apartment and had two kids, I'd be paying far more tax at the same income than if I owned a home with a 500k mortgage but was single.  I think it is a lot tougher for working people in the US than most Canadians understand.

 

We also have a national sales tax, and most provinces have one as well.   However, that is another point where some US states actually have similar tax rates.

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Not quite as far off US rates as most Canadians think, once you factor in state income taxes.    Canadians tend to compare Federal+Provincial, which can get you to around 43%, to US Federal, where the highest marginal is 35%.  But for someone earning 100k (ignore exchange rates, assume equal), Federal Canada is 26%, Federal US is 28%.   The US curve is a little more forgiving, but on the other hand, the IRS goes as high as 39%, Canada stops at 29%.

 

One big difference comes from provincial versus state - Canadian provinces are clustered together, so effective marginal rate on 100k varies between 44% and 38%.  In the US, there is a massive difference by state, from 0% states, to flat tax states, to high tax states like NY and CA which end up very close to Canadian.

 

The other big difference is deductions - being able to deduct interest on mortgage expense makes a huge difference.

 

We also have a national sales tax, and most provinces have one as well.   However, that is another point where some US states actually have similar tax rates.

Yes, I would like to deduct mortgage interest!

Thanks for your reply.

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Not quite as far off US rates as most Canadians think, once you factor in state income taxes. Canadians tend to compare Federal+Provincial, which can get you to around 43%, to US Federal, where the highest marginal is 35%. But for someone earning 100k (ignore exchange rates, assume equal), Federal Canada is 26%, Federal US is 28%. The US curve is a little more forgiving, but on the other hand, the IRS goes as high as 39%, Canada stops at 29%.

One big difference comes from provincial versus state - Canadian provinces are clustered together, so effective marginal rate on 100k varies between 44% and 38%. In the US, there is a massive difference by state, from 0% states, to flat tax states, to high tax states like NY and CA which end up very close to Canadian.

The other big difference is deductions - being able to deduct interest on mortgage expense makes a huge difference. Not always one that makes much sense to me, I figured out once that if I rented an apartment and had two kids, I'd be paying far more tax at the same income than if I owned a home with a 500k mortgage but was single. I think it is a lot tougher for working people in the US than most Canadians understand.

We also have a national sales tax, and most provinces have one as well. However, that is another point where some US states actually have similar tax rates.

dang governments....(wanders off to start anti-Goverment movement :D )
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I am desperately trying to talk myself into a domino. The problem is, I know I can make mortise and tenons a dozen other ways. But man, it would be nice to get them done in a few seconds. 

 

$850 dollars is a hard pill to swallow for a one trick pony. But I guess I need to make my decision FAST.

 

I am debating the same thing, and one of the things pushing me towards the Domino is the lack of bench space.  A hollow chisel mortiser will be significantly cheaper but takes up space.  The Domino goes back in its Systainer and can be put away.

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I am debating the same thing, and one of the things pushing me towards the Domino is the lack of bench space.  A hollow chisel mortiser will be significantly cheaper but takes up space.  The Domino goes back in its Systainer and can be put away.

 

The systainer takes up a lot of space, too. 

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