Pension splitting is based on the fact that Canada's
graduated income tax system imposes far higher rates of tax on big earners than on modest or non-existent earners.
Canada has
a graduated income tax system that increases the amount of income tax you pay as your income gets higher.
In Canada's
graduated income tax system, knowledge of steadily rising tax brackets is essential, both on the wealth accumulation and eventually the income - drawdown phases.
Not exact matches
The best friends that capitalism has in this country today are the antitrust laws, the
graduated income tax, the inheritance
taxes, the social security program, and all the other legislation that has tempered the capitalist
system, spread the wealth, provided for adequate public services, and created the great middle class that makes the American economy strong.
The
system would be paid for with federal funds that come to New York, like Medicaid, and a progressively
graduated income and payroll
tax.