Canadians want a wealth tax and are willing to vote for it

[Claudia Love]

"89% of Canadians want to see a wealth tax of one per cent paid by the wealthiest Canadians as part of Canada’s pandemic recovery, with 92% in support of closing tax loopholes and making it harder for corporations to strategically book profits in tax havens."

https://www.nationalobserver.com/20...iN7JADA1szS9Vz7QXa5AnI7gdjM4lGv1Qq_sD9lDxyL6Y

 

[JackBurton]

“Want” and “get” are two different things.

Frank Stronach will crush this, or even better yet they will download it onto the middle class that makes over 200k.

Rich, powerful people don’t pay tax. Never have and never will. They are way too smart and will convince the people who are upwardly mobile that they need to pony up.

Grab the popcorn, it’s going to be the fucking of the century. May as well be comfortable ring side.

 

[jcpro]

“Want” and “get” are two different things.

Frank Stronach will crush this, or even better yet they will download it onto the middle class that makes over 200k.

Rich, powerful people don’t pay tax. Never have and never will. They are way too smart and will convince the people who are upwardly mobile that they need to pony up.

Grab the popcorn, it’s going to be the fucking of the century. May as well be comfortable ring side.

The "luxury tax" is the ticket, LOL!!

 

[james t kirk]

I read somewhere that in Ontario, 45,000 people pay 50 percent of the taxes collected in Ontario. And the top 50 percent of wage earners do in fact pay 98 percent of all taxes.

That's pretty wild.

Do you think it wise to chase them away? I believe the highest tax bracket in Canada is 46 percent. I think that's high enough.

Everyone out there thinks they are getting hosed by taxes and the other guy should pay more. We just need to come up with a system so that the other guy pays more. The reality is that 50 percent of the population is getting a free ride. What we really need to do is figure out a way to make those work shy people productive so they can pay tax too (and I don't mean in the government sector, save and except health care providers, because government workers don't generate wealth that you can tax.).

I believe that Canada is THEE least productive of all the G7 nations. We need to fix that too.

Just taxing "wealth", whatever that is, is a fool's errand.

 

[danmand]

A wealth tax is in effect in many countries. It is not the end of the world. It is away of getting some tax revenue from the rich people who can take advantage of loopholes to pay little income tax.

 

[Frankfooter]

I read somewhere that in Ontario, 45,000 people pay 50 percent of the taxes collected in Ontario. And the top 50 percent of wage earners do in fact pay 98 percent of all taxes.

That was probably just more fake stats from larue.
Check stats on inequality and compare them again to taxes collected.

 

[oil&gas]

I wish there is a better excuse than 'pandemic recovery' for such
idea of money grab from the wealthiest called wealth tax. I'll find it
more acceptable if the money grabbed are earmarked for and only for
payment of our national debt.

 

[Frankfooter]

I wish there is a better excuse than 'pandemic recovery' for such
idea of money grab from the wealthiest called wealth tax. I'll find it
more acceptable if the money grabbed are earmarked for and only for
payment of our national debt.

How about just reducing inequality?

 

[HEYHEY]

What the average person fails to realize is that a tax on a corporation or the wealthy is really a tax on you.
Why you dummies? Cause the business will just raise prices and pass on the tax to the customer, but hey, keep cheering for higher taxes lol

 

[danmand]

What the average person fails to realize is that a tax on a corporation or the wealthy is really a tax on you.
Why you dummies? Cause the business will just raise prices and pass on the tax to the customer, but hey, keep cheering for higher taxes lol

So, a tax on the wealthy means they will pass on the tax to you. You are a genius, nobody else sees that.

 

[james t kirk]

How about just reducing inequality?

I would argue that it's just wealth redistribution.

If you want to really reduce inequality, you need to come up with a way to motivate or encourage the work shy individuals in our society to be successful and productive and earn a decent living on their own. Just giving them money you take from a successful person will not solve the problem. In fact it will make it worse because you provide the work shy with free money it only conditions them to be lay-abouts.

As I previously stated Canada is THEE most unproductive nation in the G7 and I suspect one the most unproductive developed nations in the world. We have a very large number of people who have no marketable skills but manage to eak out an existence through sporadic subsistence employment and or one government program or another. You only advocate a system which makes it worse.

Ive thought about it a bit over the years and to me it all comes back to our education system. It's a joke frankly. The Asians and some Europeans are eating us up because their education system is rigourous and tough frankly. Ours is taught by teachers who don't believe in teaching math because they don't know how to do math themselves. I looked at what my kids were being taught in school now and it was not giving them the tools they need to be successful. It was disgrace in fact. I won't get into specifics about what I've seen with my kids for obvious reasons, but it caused both my wife and I to go head to head with the TDSB and finally in frustration pulling our kids out of the public school system.

Ive come to the conclusion that the Canadian school system as it currently exists is dumbing down kids, is not demanding enough and not giving them the tools they need to be successful.

I was born in a lower middle class hard working family in the north end of Hamilton with 3 siblings. Both my parents worked and sacrificed and taught us the value of hard work at school. I was educated in the public school system. None of us ever were allowed to take bird courses at school. My mother saw to that. What I see now being taught in schools is unrecognizable to me.

Ontario needs to have an education system that teaches hard skills that will allow kids to become successful in a field that creates wealth for them and the society as a whole. Without that, we will continue to be a nation where the only solution is coming up with more and more taxes to feed the pigeons.

 

[Goodoer]

Teachers are a left-wing voting bloc now…

 

[oil&gas]

Teachers want Ontario Teachers' Pension fund taxed like a
corporation? OTPP has a net asset value above $200 billion.
A yearly 1% wealth tax on the retirement savings of the teachers
is one juicy revenue source to help fight wealth inequality.

 

[Claudia Love]

I read somewhere that in Ontario, 45,000 people pay 50 percent of the taxes collected in Ontario. And the top 50 percent of wage earners do in fact pay 98 percent of all taxes.

That's pretty wild.

Do you think it wise to chase them away? I believe the highest tax bracket in Canada is 46 percent. I think that's high enough.

Everyone out there thinks they are getting hosed by taxes and the other guy should pay more. We just need to come up with a system so that the other guy pays more. The reality is that 50 percent of the population is getting a free ride. What we really need to do is figure out a way to make those work shy people productive so they can pay tax too (and I don't mean in the government sector, save and except health care providers, because government workers don't generate wealth that you can tax.).

I believe that Canada is THEE least productive of all the G7 nations. We need to fix that too.

Just taxing "wealth", whatever that is, is a fool's errand.

if the Cons propose it, it will be deemed good fiscal management… if the Liberals propose it, it will be a Big Government Commie scheme designed for a Global agenda to destroy the planet That's how you righties roll.

 

[james t kirk]

if the Cons propose it, it will be deemed good fiscal management… if the Liberals propose it, it will be a Big Government Commie scheme designed for a Global agenda to destroy the planet That's how you righties roll.

I can assure you that I pay all of my taxes.

Can you say the same?

You work as an escort. And that's fine by me. But we all know it's an almost exclusively cash business.

So tell me Heather, do you send a cheque to the government for 50 percent of all that cash you make? I would bet the farm that you don't send a dime of your income to the federal government. A normal work year is 2080 hours. Let's say you work only 4 hours a day 5 days a week with weekends off and charge 250 per hour. That's an income of about 250 thousand dollars which means you owe about 100 thousand dollars in income tax. Then there's HST on top of that.

So please don't lecture a guy who does send half of what he makes to the government.

When you start paying your FULL income taxes, you can have an opinion. Until then, I'd prefer it if you just said thank you.

 

[james t kirk]

Teachers are a left-wing voting bloc now…

Always have been.

Teachers always advocate for higher taxes because they think that the government will be able to pay them more. Really that simple.

Let the gravy train roll!

 

[toguy5252]

Taxes on wealth as opposed to income do not work. It is very easy to talk about but very difficult to actually implement. It is an overly simplistic idea. Notwithstanding that there may be popular support I do not believe that it will happen.

 

[Claudia Love]

I can assure you that I pay all of my taxes.

Can you say the same?

You work as an escort. And that's fine by me. But we all know it's an almost exclusively cash business.

So tell me Heather, do you send a cheque to the government for 50 percent of all that cash you make? I would bet the farm that you don't send a dime of your income to the federal government. A normal work year is 2080 hours. Let's say you work only 4 hours a day 5 days a week with weekends off and charge 250 per hour. That's an income of about 250 thousand dollars which means you owe about 100 thousand dollars in income tax. Then there's HST on top of that.

So please don't lecture a guy who does send half of what he makes to the government.

When you start paying your FULL income taxes, you can have an opinion. Until then, I'd prefer it if you just said thank you.

listen asshole ive never went one year without paying taxes dont give me this hollior than thou bullshit. many sex workers pay taxes so they dont get there banks frozen. its people like you that make me sick when it comes to your politics. people like you cause humans to die. so enjoy your selfish thoughts but when you pass on you wont be going up. i work as an entertainer for the last 2 years since covid. im done talking to you guys like you are a dime a dozen.

 

[danmand]

I can assure you that I pay all of my taxes.

Can you say the same?

You work as an escort. And that's fine by me. But we all know it's an almost exclusively cash business.

So tell me Heather, do you send a cheque to the government for 50 percent of all that cash you make? I would bet the farm that you don't send a dime of your income to the federal government. A normal work year is 2080 hours. Let's say you work only 4 hours a day 5 days a week with weekends off and charge 250 per hour. That's an income of about 250 thousand dollars which means you owe about 100 thousand dollars in income tax. Then there's HST on top of that.

So please don't lecture a guy who does send half of what he makes to the government.

When you start paying your FULL income taxes, you can have an opinion. Until then, I'd prefer it if you just said thank you.

Personal attacks like this ha no place here.

 

[danmand]

Taxes on wealth as opposed to income do not work. It is very easy to talk about but very difficult to actually implement. It is an overly simplistic idea. Notwithstanding that there may be popular support I do not believe that it will happen.

It can work, as it does in several countries. I know how it works in Denmark.

It will not likely be implemented in North America, because it gives tax authorities an order of magnitude more insight in peoples finances.

For example, Tax authorities can do a simple calculation: "Assets" - "last year Assets" = income + "asset appreciation" - spending. If the equation does not compute, you have a problem.