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Thread: Trudeau has to go?

  1. #1141
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    Quote Originally Posted by Buster View Post
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    Liberals say tax the rich.

    They really mean tax the middle class.

    They know it. I know it. The dumb voters do not know it.
    There are some pretty glaring loopholes that need to be closed... at least it seems they're finally publicly recognizing it. Whether they actually do something about it remains to be seen.

    “Some high-income Canadians still pay relatively little in personal income tax (PIT) as a share of their income — 28 per cent of filers with gross income above $400,000 pay an average federal PIT rate of 15 per cent or less, which is less than some middle class Canadians pay,” reads the 2022 federal budget published Thursday.In the document, Finance Canada reveals new data based on 2019 tax data that shows that nearly 18 per cent of Canadians who earned $400,000 in gross income that year — or the 0.5 per cent — paid less than 10 per cent (and sometimes even 0 per cent) in federal tax.
    Another 10 per cent of wealthy Canadians paid up to 15 per cent, which is essentially the first income tax bracket for the federal government. The remaining 72 per cent of the country’s top 0.5 per cent earners in 2019 paid over 15 per cent in federal tax.
    https://nationalpost.com/news/politi...al-budget-2022

  2. #1142
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    Income from "normal" dividends is taxed super low.

    Also people cashing in stocks from options, etc.

    Neither are going away.
    Last edited by suntan; 04-08-2022 at 10:39 AM.

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    I'm a big fan of reducing the complexity of the tax system, which would reduce the number of "strategies" that high net-worth individuals are incentivized to use. If the tax code was under 50 pages, and ideally under 20 pages, it would actually be good for low-income level Canadians as well.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  4. #1144
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    Tax code should be 1 page. Everbody works. Everybody pays 10%. Whatever we can't afford, HELOC that shit.
    Tap, Rack, BANG!

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    Tax return should be 1 page anyway. Code might end up being a little longer, because you know how lawyers are.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    .
    Last edited by zipdoa; 04-19-2022 at 03:10 PM.
    Originally posted by InRich
    tell her I'll pick her up in the vette
    Originally posted by InRich
    The X5 i bought earlier this year really is FULLY LOADED though not a single option missing including infrared night driving

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    Quote Originally Posted by ExtraSlow View Post
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    I'm a big fan of reducing the complexity of the tax system, which would reduce the number of "strategies" that high net-worth individuals are incentivized to use. If the tax code was under 50 pages, and ideally under 20 pages, it would actually be good for low-income level Canadians as well.
    Quote Originally Posted by littledan View Post
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    Tax code should be 1 page. Everbody works. Everybody pays 10%. Whatever we can't afford, HELOC that shit.
    Easy to say, difficult to do.

    It's often difficult to even determine what has been "earned", because people don't always spend money that has flowed to them.

    One solution is to go to a straight consumption tax and get rid of the CRA entirely.

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    It’s not in the governments best interest to be clear about how much we pay in taxes.

    Change my mind.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by killramos View Post
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    It’s not in the governments best interest to be clear about how much we pay in taxes.

    Change my mind.
    Normally I would say: don't attribute to malice, that which can be explained by incompetence.

    But in this case, I think we can flip that.

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    Quote Originally Posted by littledan View Post
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    Tax code should be 1 page. Everbody works. Everybody pays 10%. Whatever we can't afford, HELOC that shit.
    It is so easy to sidestep that 10% that literally everybody would pay 0%.

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    Quote Originally Posted by Buster View Post
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    Easy to say, difficult to do.

    It's often difficult to even determine what has been "earned", because people don't always spend money that has flowed to them.

    One solution is to go to a straight consumption tax and get rid of the CRA entirely.
    You'll never get the approval of the canadian drug dealers assocation or the college of canadian hoes
    Tap, Rack, BANG!

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    Quote Originally Posted by Buster View Post
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    One solution is to go to a straight consumption tax and get rid of the CRA entirely.
    It's too early at work for me to be this randy, stop

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    Well who would've thought this incompetent regime would do anything positive. But they just said today they're banning foreign home buying for 2 years. I don't know why the 2 year time frame? Just make it permanent.

    - - - Updated - - -

    Quote Originally Posted by Buster View Post
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    One solution is to go to a straight consumption tax and get rid of the CRA entirely.
    If people want to actually tax the rich, that's the way to do it.

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    Quote Originally Posted by suntan View Post
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    Income from "normal" dividends is taxed super low.

    Also people cashing in stocks from options, etc.

    Neither are going away.
    Dividends come from taxed income hence its low.

    Stock options are only taxed as capital gains if the exercise price is market value at the time it was issued. If you issue stock options at 1c when the valuation has share price at $1, that 99c per share is taxed at income tax levels iirc.

    Neither should go away.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

  15. #1155
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    The point that the regular voters are missing is that a "tax the rich" strategy doesn't solve the problem. It wouldn't generate even close to enough revenue to cover all the shit that the people want.

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    Quote Originally Posted by Buster View Post
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    The point that the regular voters are missing is that a "tax the rich" strategy doesn't solve the problem. It wouldn't generate even close to enough revenue to cover all the shit that the people want.
    Rich people are evil and don't deserve it. I don't care if I don't get more so long as they don't have it either.
    - Liberal and NDP voters.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.
    Originally posted by JRSC00LUDE
    I say stupid shit all the time.
    ^^ Fact Checked

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    Quote Originally Posted by rage2 View Post
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    Dividends come from taxed income hence its low.

    Stock options are only taxed as capital gains if the exercise price is market value at the time it was issued. If you issue stock options at 1c when the valuation has share price at $1, that 99c per share is taxed at income tax levels iirc.

    Neither should go away.
    Check out Mr. BigTime reading his shareholder's agreements and whatnot!

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    Quote Originally Posted by suntan View Post
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    It is so easy to sidestep that 10% that literally everybody would pay 0%.
    Given the implementation of Common Reporting Standards, the CRA should have automated software that checks account flows against tax returns. Tying it in with vehicle registry and property data would further highlight mismatches between claimed income and assets worthy of further investigation.

    In Sweden, the government actually sends you your completed tax return and all you need to do is confirm it's correct (with as little as a text message).

    The only reason governments haven't done this is by choice. I think Buster's quote is perfect - it's not just incompetence but intention.

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    The tax code should be eliminated in its entirety. No personal income tax at all.
    GST should be 19% and gets split between the province and federales.
    Current food and grocery exemptions stay in place but add feminine hygiene products (that is my wifes biggest pet peeve).

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    We should figure out what else is on the list of exemptions.

    I vote natty gas.

    And diapers.

    Food products under $11.87…

    Maybe kids sports. But only if you are a certain level of poor, which you will need your employer to verify. And only some types of income count to that status.

    Maybe we will need some large tax code to figure this all out.
    Last edited by killramos; 04-13-2022 at 05:57 AM.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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