Central Bank Asset Growth

[macdon02]

I mentioned Piketty earlier, then this shows up with link to Blackrock's article on how Ottawa wants everyone starting off with the same assets. If you happen to be endowed with intelligence it won't be rocket science what the most valuable asset is. You know when you are being run out of your own country.


https://corymorgan.com/trudeau-government-members-eye-a-tax-on-your-childrens-inheritance/

[burnt]

I mentioned Piketty earlier, then this shows up with link to Blackrock's article on how Ottawa wants everyone starting off with the same assets. If you happen to be endowed with intelligence it won't be rocket science what the most valuable asset is. You know when you are being run out of your own country.


https://corymorgan.com/trudeau-government-members-eye-a-tax-on-your-childrens-inheritance/

"...run out of your own country."

It's hard to wrap one's mind around what's happening to us in real time. It's incomprehensible, really.

Our minds cannot grasp the legalized, Marxist plans for the confiscation and redistribution of private property ("property" in the broadest sense) because they are so counter-intuitive to the mindset that transformed the West into the current zenith of all civilization.

So naturally, it's easier to be a denier than to allow the reality of what's happening to us to sink in.

Ignorance of historical precedent may seem to be a panacea.

The results of government's responses to this contrived pandemic is shown here:

[burnt]

"Since wealth is the only thing that can cure poverty, you might think that the left would be as obsessed with the creation of wealth as they are with the redistribution of wealth. But you would be wrong." Thomas Sowell

[sawfly1]

There are many kinds of redistribution of
Wealth.not just socialist ones.
I would call 80$ -100? /acre canola seed
Cost a redistribution of wealth.
I would call the weston's fixing bread prices , and
Taking another $ a loaf for years , same thing.
Or a 5,000$ a month heathcare insurance
Premium for a 60 year old American , a 50 % higher
Health care cost , a redistribution.
Or an unchecked railway or grain co. Or fertilizer monopoly .
Not taxes , not socialist ,but still a redistribution.
And not necessarily facilitated by the left.
But by others .
And as the numbers show that a tenth of 1% now own over 1/2 the worlds wealth.

In the rush to blame socialism for all the worlds ills.
Follow the money to where it ends up.
Then work your way back to how it gets there.
Maybe start from there .
They are pretty good at saying hey look over there at
The left as they rake it in.

[chuckChuck]

There are many kinds of redistribution of
Wealth.not just socialist ones.
I would call 80$ -100? /acre canola seed
Cost a redistribution of wealth.
I would call the weston's fixing bread prices , and
Taking another $ a loaf for years , same thing.
Or a 5,000$ a month heathcare insurance
Premium for a 60 year old American , a 50 % higher
Health care cost , a redistribution.
Or an unchecked railway or grain co. Or fertilizer monopoly .
Not taxes , not socialist ,but still a redistribution.
And not necessarily facilitated by the left.
But by others .
And as the numbers show that a tenth of 1% now own over 1/2 the worlds wealth.

In the rush to blame socialism for all the worlds ills.
Follow the money to where it ends up.
Then work your way back to how it gets there.
Maybe start from there .
They are pretty good at saying hey look over there at
The left as they rake it in.

When oil prices were super high and gasoline prices were through the roof lots of wealth was transferred to the oil industry and their shareholders including OPEC nations who make a point of trying to control world oil prices.

When the top 1% have half the worlds wealth you know the system is broken. Like Trump, many of the super rich make every effort to not pay taxes. Its all about greed and power.

[furrowtickler]

Both raise very good points as well.
The system is broken and since this pandemic it is getting worse . That and the UN pushing hard for wealth distribution only compounds the problem.
Hopefully we don’t let it get any worse by allowing more wealth transfer from one of the few sectors left that actually generates wealth , Ag .
I hope we don’t get taxed to death by this system now . Someone has to pay for this debacle... there a lot of people on government money now and it’s going to collapse the Canadian economy if changes aren’t made .

[furrowtickler]

The very top 1% will be left alone , or have their wealth increase which is exactly what’s happening now . It’s the middle class that’s getting stripped of their wealth now . The money has to come from someone. That’s what worries me most .
They are simply redistributing the 99% . Been the plan for a long time .
The wealthy elite, both right and left are playing this game of chess .

[jazz]

sawfly, all those items you mention have choice behind them. I cna choose not seed canola. I cant choose my net worth. That is a calculated quantity every year and the govt knows it.

In California they are going for a straight up wealth tax. Not inheritance tax, wealth tax. As in the gov calculates you net worth and you owe a percentage of that every yr.

There are some serious times ahead. Got to lever our corporate structures for protection. The billionaires in the world protect themselves with these financial tools, has to be a way for us too.

[GDR]

I mentioned Piketty earlier, then this shows up with link to Blackrock's article on how Ottawa wants everyone starting off with the same assets. If you happen to be endowed with intelligence it won't be rocket science what the most valuable asset is. You know when you are being run out of your own country.


https://corymorgan.com/trudeau-government-members-eye-a-tax-on-your-childrens-inheritance/

Playing Devil's advocate here. We all know taxes have to go up and government spending has to go down. If the choice is higher income tax, higher sales tax, wealth tax or inheritance tax what would you choose? The first three are gonna hit me personally harder.

You can't take it with you. If you know its gonna get taxed hard, you are more likely to spend it to keep the economy circulating. Might alleviate some family estate disputes. I've seen lots of elderly live in basic poverty, yet worth millions because they were leaving the land to junior. Could help level the playing field for the next gen, or encourage an earlier transfer to the next gen. Dont know just thinking.

On a similar train of thought I had a trucker come pick up a load yesterday. Was a husband and wife, mid 50's, and they have no home by choice I think. Just live in the truck. Not sure I want to trade places but sure would be freeing to live like that. I have lots of assets and "stuff" and am very fortunate but do realize that all that "stuff" takes lots of management, upkeep and responsibility.

[GDR]

The very top 1% will be left alone , or have their wealth increase which is exactly what’s happening now . It’s the middle class that’s getting stripped of their wealth now . The money has to come from someone. That’s what worries me most .
They are simply redistributing the 99% . Been the plan for a long time .
The wealthy elite, both right and left are playing this game of chess .

Reality is Furrow that most of us that identify as middle class are not. I'm not sure how many farmers are that top 1% but I'd say pretty well all farmers are in the top 10%.

[jazz]

GDR the richest families on the planet own a lot of stuff. Thats how generational wealth flows forward. There are families still around that have owned prime land in europe for over 1000 yrs. Somehow they keep that land in the family, protected it from the govt and even world wars.

We are going back to serf times if we give up our property.

[beaverdam]

In California they are going for a straight up wealth tax. Not inheritance tax, wealth tax. As in the gov calculates you net worth and you owe a percentage of that every yr.

Right here in Saskatchewan's provincial election campaign, the NDP has proposed a wealth tax !

The left is determined to tax the "makers" and give it to the "takers"

Easy peasy, use the wealth of others to buy a political base that will vote for you. Problem is, those policies just lead to fewer "makers" and more "takers". The "takers" will always vote for more free stuff, the "makers" will eventually move away with what they can, or be taxed so heavily they end up being "takers" as well.

[GDR]

GDR the richest families on the planet own a lot of stuff. Thats how generational wealth flows forward. There are families still around that have owned prime land in europe for over 1000 yrs. Somehow they keep that land in the family, protected it from the govt and even world wars.

We are going back to serf times if we give up our property.

To be clear I'm not advocating for anything just brainstorming but the tone of your post makes me think you are not in favour of the rich families holding that land for 1000yrs. So isnt that sort of a nimby attitude? Not ok for them but should be for us? Look at all the losers that are born into those rich families, they either cant tie their own shoes or they seem to get involved in illegal stuff or involved with cults. I'm just not a believer in making it too easy for the next gen, get off your ass and get to work. But once they get to work get out if their way and keep the gov out of their pockets.

[burnt]

Right here in Saskatchewan's provincial election campaign, the NDP has proposed a wealth tax !

The left is determined to tax the "makers" and give it to the "takers"

Easy peasy, use the wealth of others to buy a political base that will vote for you. Problem is, those policies just lead to fewer "makers" and more "takers". The "takers" will always vote for more free stuff, the "makers" will eventually move away with what they can, or be taxed so heavily they end up being "takers" as well.

Begin at 1:20 - 2:35. Illustrates your post, beaverdam.

[jazz]

I'm just not a believer in making it too easy for the next gen, get off your ass and get to work. But once they get to work get out if their way and keep the gov out of their pockets.

I am with you but that pull yourself up by the boot straps is going to be near impossible in a socialist environment.

I want my kids to have initiative and make a way for themselves but I also dont want them on a work tax treadmill to poverty either which is where I think most regular wage earners will be heading.