52
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 15 Oct 2023
52 points (98.1% liked)
Canada
7168 readers
421 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Regions
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
🍁 Social & Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
Harper crippled us long term by reducing the GST.
It'll be political suicide to increase it for anyone, and now we all suffer.
It's not where I'd go. In Canada right now, investment income is taxed at a much lower rate than income from actual work, and that seems messed up. I don't know how much would be brought in by changing that, but it's not nothing. And, of course, you could always do things with the upper tax brackets.
I think it makes sense for investments to be less though as you're risking something vs just income. One is safe the other isn't.
But messing with upper brackets does increase tax revenue from investments of the wealthy as well so it is probably the easiest of all spots.
You're of course allowed to have that opinion, but I'd like to point out working for a living isn't risk-free either. 10 million in a conservative ETF is probably less likely to fail than a job you could get laid off from.
Yes, some kind of income tax is probably best. Honestly if it was up to me I'd get rid of corporate taxes in favour of them too, although I think there's treaty obligations not to do that right now.
What I'd also like to see, but would be difficult to implement is taxing the wealthy when they use assets for leverage / borrowing to avoid taxes.
They can defer taxes for decades this way, in some cases until they die.
Leave it for us small timers, but put a limit somewhere where it becomes taxed somehow.
I am fine with reducing CONSUMPTION tax which mostly impact the poor and the middle class. We should be raising the taxes on investment income.