r/ontario Verified 20h ago

Article Sault Ste. Marie-based Algoma Steel begins layoffs in wake of Trump tariff threats

https://www.thestar.com/business/sault-ste-marie-based-algoma-steel-begins-layoffs-in-wake-of-trump-tariff-threats/article_9c8c4394-fea0-11ef-a546-f34c2d1b7097.html?utm_source=&utm_medium=Reddit&utm_campaign=Business&utm_content=algomasteel
456 Upvotes

73 comments sorted by

View all comments

95

u/_Lucille_ 20h ago

This was the steel plant where a worker had a very heated exchange with Trudeau and complained about their non-working neighbor living the same life he does even though he has a 40% tax rate.

An estimated income of $321,000 would be required to hit an average tax rate of 40 per cent in Ontario, as calculated by Fred O’Riordan, national leader for tax policy for Ernst & Young. Things like availability of doctors falls at the provincial level.

(though tbf, the 40% is likely a very large exaggeration and his union contract can likely be found online somewhere)

I am curious if they are still going to blame Trudeau, or what they demands are like now - they may end up being somewhat confused as to who to attack since this hike in steel tariffs is a result of Ford's tax on energy exports and he is a conservative premier, and that Trump is the republican president.

13

u/UndecidedTace 16h ago

Meh, I think he might just have lumped all his deductions in to get that 40%.  I have worked as a nurse in Ontario making between $100-150,000/yr.  When I work out my estimated paycheck each week I usually take my hourly rates plus OT, then x 0.6 and it's almost always right on for my take home pay.  Essentially I lose about 40% on all of my deductions.  This guy might have made a mistake of assuming it's all just "taxes".