Do a regular Canadian think more socialistic or more capitalist?
- Thread starter Vaad
- Start date
When is comes to making money and paying taxes Canadians are capitalists. When it comes to paying for things we are socialists.
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Mixed.
People want lower taxes.
People also want free healthcare, old age pensions etc.,
And therefore, Canada is a mixed economy.
People want lower taxes.
People also want free healthcare, old age pensions etc.,
And therefore, Canada is a mixed economy.
Everyday brings a new issue.
In general, I feel Canadians are capitalist, but understand the limitation of it.
And then you have the greedy Unions.
In general, I feel Canadians are capitalist, but understand the limitation of it.
And then you have the greedy Unions.
Public sector mostly unionized. Not as many unions in the private sector compared to say 45 years ago.Everyday brings a new issue.
In general, I feel Canadians are capitalist, but understand the limitation of it.
And then you have the greedy Unions.
I think it's moved a little to the left over the last 20 years or so. Our universities are a disaster. Our media for the most part are pretty far left.
Real estate vacuumed all the capitalists into its vortex, leaving nothing for all other types of investments/risk. There is not a lack of capitalists; they are there, but they are all bunched up in just a particular area, making it seem like there are no capitalists around.
Thank god AirBnB lost popularity or capital concentration in real estate would be even higher than it is now.
Thank god AirBnB lost popularity or capital concentration in real estate would be even higher than it is now.
That's what I'm saying.
This "free" education, healthcare,old age pension etc is delivered by overpaid gov. union workers. More money goes to them than the actual cause.
I see Canada society socialistic in general from attitude, including chrony capitalist situation (monopolies in many sectors) further pushing society towards socialistic agenda as a best mechanism to kill any competition for new entrants internal or external.
We are socialist but how socialist we are is distorted by real estate. In the US you can pass on stocks and real estate to your next of kin without taxation, in Canada you can only do that with real estate. If we taxed both real estate and stocks or did not tax real estate and stocks upon death, capital would probably be available for more productive investments and our economy would be more competitive. Real estate still wins either way because you can depreciate the f*ck out of it to avoid taxes but as long as it is not such a huge lopsided victory for real estate then our economy would benefit and we would look less socialist.
This does not change anything.
Your general perception is not the same as my general perception. Most people are stupid - and I might fall into this category for if I am stupid, I won't think I am - and perceptions of reality do vary from one person to another.
They also change with time. The "Capitalism" that existed at the time of Marx is NOTHING like the Capitalisms of today yet people argue as if it is.
...and what is socialism? Is public schooling socialist? No? Then why is the exact same funding model for health care considered socialist to many?
Definition of terms otherwise it's just punching at your own shadow.
No, not entirely correct.
"In the US you can pass on stocks and real estate to your next of kin without taxation"
No. The US has Estate taxes. This is defined as; "In the United States, the estate tax is a federal tax on the transfer of the estate of a person who dies. The tax applies to property that is transferred by will or, if the person has no will, according to state laws of intestacy." Thus, Estate taxes apply to real estate which is considered property.
This Estate Tax is levied on an individual basis and is calculated based on a graduated tax rate system on the value of your taxable estate (including stocks and real estate) beginning at a rate of 18% and quickly moves to a top federal tax rate of 40% on the value that exceeds US$1 million.
Real estate - Wikipedia
en.wikipedia.org
"your next of kin without taxation, in Canada you can only do that with real estate."
This is not correct. You can only do this with your Personal Residence. Canada does not has Estate Taxes like the US but instead everything is valued as sold and you pay the corresponding taxes on this. This is on top of Probate taxes of course.
"Real estate still wins either way because you can depreciate the f*ck out of it to avoid taxes"
Not entirely true. Real Estate is defined as; Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
HOWEVER, in Canada you cannot depreciate land (and animals I suspect).
So, if your "Real Estate" is made up of land, you cannot "depreciate the fuck out of it to avoid taxes". You're also mis-understanding what depreciation is and what it is used for. Depreciation is to spread the cost of of capital over the course of it's working, or useful lifespan. Thus, the Capital is considered useless naturally and thus it's cost at the time of sale is minimum anyway. This has nothing to do with taxation. Depreciation also follows set rules for types of Capital so you cannot randomly choose your depreciation schedule (as you seem to infer) to "avoid taxes". This is an accounting issue, not a taxation issue. Taxation is secondary.
Classes of depreciable property - Canada.ca
Information for individuals and partners claiming capital cost allowance on the depreciable property used in their businesses and the criteria for each class.
Look at all the stikes and labour disputes going on. It's exactly what I said in this thread. Socialism in Canada is basically funding Unions, Not about getting things done for society.
In the end, one hand washes the other. The goal originally was to keep the working population working. Healthcare helps do that. Even the state tries to have some form of minimum healthcare, otherwise the working poor will be dying in droves.
As for the constant tax on tax, it's blatant miss management of public funds and corruption at the top milking the public funds. I know, I have worked in the public office and see it. Very little accountability and all about one hand washing the other there. There needs to be a uncorruptible financial accountability office.
