rich / avg / poor

[bazokajoe]

I met a random stranger who asked me a question about my bike. Then the conversation drifted into about life in general. He said he is receiving $1,169 free money every month. He rents a room (no, not in Rosedale) for $400 a month. That leaves $769 for food and stuff. He travels by bike. He even has a small dog. He goes to the library for his Internet. No, he doesn't do drugs or smoke. No, he doesn't want a job, so don't offer him one. He is content with his lot in life.

Sounds to me like he is getting $1,169 too much.

 

[bazokajoe]

A properly managed country like Singapore needs a top tax rate of only 22% and foreign source income is tax-exempt.

"Singapore follows a progressive resident tax rate starting at 0% and ending at 22% above S$320,000. There is no capital gain or inheritance tax. Individuals are taxed only on the income earned in Singapore. The income earned by individuals while working overseas is not subject to taxation barring a few exceptions."

There was a recent protest at Queen's Park (what else is new). People who were already getting free money were protesting they should be getting more free money. I wish the governments would give me free money.

Canada doesn't have an inheritance tax either......yet.

 

[Darts]

Canada doesn't have an inheritance tax either......yet.

Yes, the inheritance tax was abolished when they introduced the capital gains tax.

I think Canada still has a "departure tax". Will have to look into that further.
"Canadian Departure Tax When a Canadian taxpayer emigrates Canada while still maintaining ownership of certain kinds of property, the taxpayer will pay what is called a “departure tax”. The taxpayer is deemed to have sold the property, although it has been capped, and pays tax on the capital gain from the deemed sale."

 

[Darts]

Sounds to me like he is getting $1,169 too much.

There are people, maybe even some on this board, who thinks he deserves more.

 

[downbound123]

He said he is receiving $1,169 free money every month.

He is on ODSP as that is the exact amount a person on it gets every month.

 

[curr3n_c1000]

lol. Unless you OWN a large revenue stream, you're poor.

Even being a Doctor today isn't what it use to be.

 

[NotADcotor]

I met a random stranger who asked me a question about my bike. Then the conversation drifted into about life in general. He said he is receiving $1,169 free money every month. He rents a room (no, not in Rosedale) for $400 a month. That leaves $769 for food and stuff. He travels by bike. He even has a small dog. He goes to the library for his Internet. No, he doesn't do drugs or smoke. No, he doesn't want a job, so don't offer him one. He is content with his lot in life.

A decent place to stay, basic food, Internet for my Kdramas and Bwood movies, basic clothing, a good library, basic transport. All I need. Well that and a decent girly by my side, sadly renting is the only option it seems and that's expensive. I don't drink, smoke or do the drugs, I like destinations but I have the journey more. I don't gamble. Life is good.
Seems if you are hooked into the Chinese community you can get a room for 500 to 600 a month in OK places. They won't rent to outsiders though. Not sure if that applies if you have someone to speak on your behalf or if you know one of the dialects.
Not on the dole though.

 

[Beagle_]

My business perspective is north of $100,000,000 in liquid assets is rich. That being said, you can live a luxurious life with less.

Outside of what a person needs to survive, money is just a game.

 

[Darts]

Some years ago I met an escort and for no particular reason I asked "whereabouts do you live?"

Me: Whereabouts do you live?
Escort: Palmerston above College.

Me: Those are big houses.
Escort: Yes, there are 10 of us who live in the house.

Me: You have big family.
Escort: Not family, it is a rooming house. My BF and I rent a room in the house.

 

[Darts]

He is on ODSP as that is the exact amount a person on it gets every month.

Ok, that is probably it.
Ontario Disability Support Program | ontario.ca

 

[Green11]

Your annual expenses are covered by interest or dividend income.