Liberal Retreat

[jazz]

I told you all before the only place left to tax is equity. And if you are thinking, well I just wont sell and will it to my kids, inheritance laws can be changed with the stroke of a pen.

[Robertbarlage]

If selling soon it’s a concern if not liberals will be punted out soon and everything is going to change . May be good may not be

[goalieguy847]

If selling soon it’s a concern if not liberals will be punted out soon and everything is going to change . May be good may not be

So its sort of like an estate tax
. Except.. the personnis still living. Is this not already done so in a capital gains tax?

Its kind of a cruddy idea BUT it would certainly drive down housing costs in a big way.. depending on threshold levels of the tax i imagine people would have it figured out to sell at x price ( which would be much lower) and probably sell into a lower tax bracket. Cant imagine they wouldnt grandfather in any existing mortgages and homeowners. Can you imagine the amount of money coming out of vancouver snd toronto area where homes were bought for 200 k and are now worth 1.5 to 2.5 million? Sheesh..

These thoughts have reminded me.of a debate i always have with 2 generations above me that always say " when we build our house or bought it was 18..20..24% interest".

And this is true, it was. But the dollar went alot further back then and my generation ( millenial? X ? I dont know... under 40 anyways)
Will NEVER see the equity growth that the above generations will see when they sell , such as the baby boomers. I dont know how someone who buys a house in, say, vancouver now for 1 million sells it for 7 million in 40 years.. but never say never i suppose.

Either way.
Trudeau is really crap. Sick and tired of getting taxed on just about everywhere they can. And i can afford these taxes and all the schemes. Cant imagine being those who cant who arent able to get ahead. Just brutal. Absolute.. garbagggee

[jazz]

I was thinking this would be applied to all property, including farmland. A lot of tax potential under farmers feet over the past 20 yrs.

They might go after ag land before houses even because as the theory goes, if your interest is deductible, then you shouldnt have CGE.

I just think its dangerous to try and wait out this govt. That hasnt worked so far. While we have been waiting for common sense to return, the regulations, taxation and stifling policies have only grown.

[AlbertaFarmer5]

So it's essentially a tax on inflation. House for property values don't actually go up, the currency goes down. So the government created the inflation now they are going to tax the citizens on the inflated value of their properties.

Can you imagine being retired on a fixed income, having to pay an equity tax on the house you have lived in for 50 years, when the inflated value does absolutely no good to you anyways.

[furrowtickler]

Just think of Justinflation …. GST is huge now … do you think the coalition government wants to curb inflation ?? Not a chance , more money to waste on the fringe minorities for votes .

[furrowtickler]

Between inflated GST and now ever increasing carbon tax killing the middle class this coalition government is sucking more tax money than any other government in Canadian history to pay for their pet projects . Wow the average citizen is dumb … no other words

[furrowtickler]

Ohhhhh , and covid restrictions coming back chuck , you must be ecstatic …… I guess not a conspiracy hey ??

[Guest]

Ohhhhh , and covid restrictions coming back chuck , you must be ecstatic …… I guess not a conspiracy hey ??

They’ll be back when he’ll freezes over

[furrowtickler]

They will most likely will have elementary school children there with drag queen shows at retreat.
Be super awesome for all involved.
Ohhh , and they all rode electric bicycles there from the airport where they parked their private jets .
Will be photo op heaven with all that with a solar panel and windmill in background…. Be so great for CBC . Ohhh and they should be wearing masks and social distancing, cause the evil Covid is back stronger than ever

[furrowtickler]

Don’t forget the I Love Corbin Tax sign in the background, as the middle class working family is getting decimated

[jazz]

Think about this carefully, if up to 40% of people pay no income tax, they dont make enough to touch a home in this country. In this country you need 6 figure in a household at a minimum to live a quality life. The average household income in the country is like $60k or some BS.

So you pitch a new wealth distribution, vilify equity holders and offer to tax that out of their hands, I mean you have instant 40% support for such an idea. Send a good chunk of it to Quebec and the maritimes again and we are all screwed.

Thats why I keep my CGE on hair trigger as soon as I see the winds blowing or this marxist group happens to get in again.

[rumrocks]

A lot of voters in this country apparently have a sweet tooth, my hearing isn't that good but are you saying you can hear the Freeland peddle ice cream cart speeding around the corner.

[shtferbrains]

Think about this carefully, if up to 40% of people pay no income tax, they dont make enough to touch a home in this country. In this country you need 6 figure in a household at a minimum to live a quality life. The average household income in the country is like $60k or some BS.

So you pitch a new wealth distribution, vilify equity holders and offer to tax that out of their hands, I mean you have instant 40% support for such an idea. Send a good chunk of it to Quebec and the maritimes again and we are all screwed.

Thats why I keep my CGE on hair trigger as soon as I see the winds blowing or this marxist group happens to get in again.

This graphic says so much about our situation.
Cleveland,Cincinnati, New Orleans far better than places like Toronto and Vancong.

Confirms you 40% number?

[jazz]

[ATTACH]13132[/ATTACH]
This graphic says so much about our situation.
Cleveland,Cincinnati, New Orleans far better than places like Toronto and Vancong.

Confirms you 40% number?

That looks like single person income. I think household (2 people working) is higher. Still even at $75k per yr, take off $15k in taxes and another $25k in mortgage (when interest rates were low) another $10k in misc bills and another $10k for groceries and you see how the masses are actually doing.

There isnt enough left over to do anything.

This isnt just bad policy or karma, this is actually a crisis unfolding. And as farmer know, prices for expenses take a long time to moderate. Most times ours will moderate because supply and demand kicks in. It will take 30 yrs to catch up to the home building in this country.