Trudeau has to go?

[davidI]

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Your plan is to use progressive income tax policies to create barriers to trade?

Genius.

Are you talking about income tax or trade tariffs?

[Buster]

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Are you talking about income tax or trade tariffs?

I'm just trying to figure out what you're suggesting. You said a shift away from income tax would result in a negative impact on our balance of trade.

[davidI]

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I'm just trying to figure out what you're suggesting. You said a shift away from income tax would result in a negative impact on our balance of trade.

Yes, I'm saying a higher GST/VAT on Canadian products will have a negative impact on our balance of trade unless tarrifs/duties/taxation for cross-border imports of Goods and Services are fixed to account for same. Same goes for the Carbon Tax.

[killramos]

Why would cross border duties and taxes be affected by getting rid of income tax?

[Buster]

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Yes, I'm saying a higher GST/VAT on Canadian products will have a negative impact on our balance of trade unless tarrifs/duties/taxation for cross-border imports of Goods and Services are fixed to account for same. Same goes for the Carbon Tax.

What does that have to do with income taxes?

[Misterman]

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Yes, I'm saying a higher GST/VAT on Canadian products will have a negative impact on our balance of trade unless tarrifs/duties/taxation for cross-border imports of Goods and Services are fixed to account for same. Same goes for the Carbon Tax.

You have to pay GST on anything you bring across the border. So I'm not sure what your angle is here?

[davidI]

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Why would cross border duties and taxes be affected by getting rid of income tax?

Responding to Buster's proposal to replace an income tax with consumption sales tax.

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What does that have to do with income taxes?

Lol. Nothing. It has to do with your proposal to replace an income tax with a consumption tax.

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You have to pay GST on anything you bring across the border. So I'm not sure what your angle is here?

Looks like they finally passed a law to (retroactively?) patch up the point I was talking about effective July 1, 2021. Will need to look into it further when I have time.

https://www.canada.ca/en/revenue-age...d-amounts.html

[Buster]

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Responding to Buster's proposal to replace an income tax with consumption sales tax.



Lol. Nothing. It has to do with your proposal to replace an income tax with a consumption tax.




Looks like they finally passed a law to (retroactively?) patch up the point I was talking about effective July 1, 2021. Will need to look into it further when I have time.

https://www.canada.ca/en/revenue-age...d-amounts.html

I'm not necessarily disagreeing with you. I'm really open to all ideas on how to upgrade the tax system.

[suntan]

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That would be a cash benefit, although there would need to be consideration as to how to treat discounted products (e.g. for bank employees - financial products or car dealership employees - cheap cars). Most would be able to be fixed with an "at cost" type provision but for things like financial products, that can obviously be quite difficult to assess.

I have a lot of projects over the next few months but at some point I'll take a stab at drafting a 2-page personal income tax law and post it on Beyond for critique and criticism and can adjust it to fill gaps/loopholes others foresee.

But it's not a benefit. It's a liability for the employee.

[kertejud2]

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But it's not a benefit. It's a liability for the employee.

If the interest rate is less than the CRAs prescribed rate, then it (the interest) isa benefit. If it's higher, then it isn't. But multiple employee loans at the same time would be treated as income on the employees side (as are forgiven amounts, or loans without a 'bona fide repayment schedule'), but not get to be deducted as an expense by the employer.

[davidI]

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But it's not a benefit. It's a liability for the employee.

It is whatever the tax law defines it to be. Easy fix.

[davidI]

I'm not a big TV guy but it's 39°C today so threw on some Rust Valley Restorers. It did not disappoint.

[suntan]

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It is whatever the tax law defines it to be. Easy fix.

It's Trudeaunomics!

[ExtraSlow]

Proof that money magically appears for ideological virtue signalling, but funding for basic programs, and the business of running a country, is low priority.

https://nationalpost.com/news/nation...a-623a0d9c5f7a

[JRSC00LUDE]

That proof was presented the day Trudeau was elected. It's just been continually reinforced since.

[Buster]

To be fair, I'm not sure Canada needs sure defence systems

[JRSC00LUDE]

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To be fair, I'm not sure Canada needs sure defence systems

The quicker we're invaded by a foreign Government the better.

[Buster]

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The quicker we're invaded by a foreign Government the better.

I would appreciate being conquerered by a more competent regime than the Laurentian elites

[2Legit2Quit]

JT has faith a rag tag team of teenagers will defeat the Russians if they ever invade us, Red Dawn is one of his favorite movies.

[JRSC00LUDE]

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I would appreciate being conquerered by a more competent regime than the Laurentian elites

That bar is so low an earthworm wouldn't rub it on the way past during a hot day in August.

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JT has faith a rag tag team of teenagers will defeat the Russians if they ever invade us, Red Dawn is one of his favorite movies.

Plot twist, Ukraine has been seeding us with soldiers and will conquer us with our own armament.