Time to eliminate tax breaks that favour the highest earners

[Gone_Fishin]

50% of the population pays 4% of the tax.

10% of the population pays 54.8% of the tax.

But you want to tax the 10% more so that the 50% can pay something less than 4%.

The left wing crazies have no idea about how mobile that 10% is these days. We're already dealing with losses of talent to jurisdictions with better tax rates and better support for business, yet the left wing nutjobs want to chase even more of the job creators away. "Oh, just give us 10% more tax, it won't hurt you."

When these knotheads find themselves without a job because Mr 10% hopped down to the US with his business, will they learn the painful lesson? Probably not...they'll blame Trump for making a good business climate instead of Trudeau for poisoning Canada's economy.

[Merry]

Rwede, you always discount whatever I say on this subject by claiming I have "no clue". Yet you haven't explained how the author of the article I cited, who ALSO thinks the capital gains exemption should be less generous, is mistaken.

After all, he is a professor and director of the Tax LLM program at the Peter A. Allard School of Law at University of British Columbia, so I would assume he does have a clue. Yet, presumably, you don't think so. Why is that? Do you doubt his qualifications? Or is it that your qualifications are more distinguished than his? Please explain.

[Rwede]

Rwede, you always discount whatever I say on this subject by claiming I have "no clue". Yet you haven't explained how the author of the article I cited, who ALSO thinks the capital gains exemption should be less generous, is mistaken.

After all, he is a professor and director of the Tax LLM program at the Peter A. Allard School of Law at University of British Columbia, so I would assume he does have a clue. Yet, presumably, you don't think so. Why is that? Do you doubt his qualifications? Or is it that your qualifications are more distinguished than his? Please explain.

He's a left wing idiot. That's why he's a professor instead of working in business.

And yes, I'd put my professional qualifications up against his any day. He (apparently) knows tax law, while I know tax law and how to run a successful, large company.

[Veovis]

It doesn't mean he's an idiot, just foolish, as a lot of people who find theoretical positions in their field instead of practical, especially ones that pay them a lot to be in the top 10% but form theories that will take other people's money away and not his own.

I can bet his capital investments are zip and that he is happy to jack up taxes that won't affect him.

I've found that the bulk of the people saying we need to give more money to others always seem to mean other people's money and never their own.

[Rwede]

I've found that the bulk of the people saying we need to give more money to others always seem to mean other people's money and never their own.

Most definitely. One need only look at the anti-HST crusaders on here who now say that capital gains should be taxed a second or third or fourth time.

They knew they'd be paying some HST, so they rallied against it, but they foolishly and ignorantly think someone else will be paying more in capital gains tax.

That's because these ignorant left wingers don't understand the effect on the overall economy of stupid, punitive, regressive taxation like capital gains taxes, and how everyone irrespective of income level will pay much more and lose jobs if we hamper investment with increased taxes.