Should Billionaires be Taxed out of Existence? – TVO Debate Review (Women vs. Men?)

It’s kind of annoying not only to listen to Linda McQuaig’s arguments but to also listen for her stance on the debate of taxes. Regarding taxes from 1940 – 1980 it’s important to remember that most people including the rich avoided paying INCOME TAXES because most rich people don’t work for wages! My problem with the modern-day Leftists is most of them don’t understand the tax code, at the very least these Leftists should consult with an income tax professional before making these idiotic statements.

I get it, accounting, bookkeeping, taxes, are very boring topics, ask most accountants and tax professionals during tax time if many of them want to shoot themselves, they’ll tell you, they’ve considered it, but just because you’re ignorant about Canada’s tax system doesn’t give you an excuse to mislead people who trust you. It’s people like economist Armine Yalnizyan and journalist Linda McQuaig who have paved the way for Populism worldwide.

I’m a Right-winger, an actual Right Winger, I’m actually not a fan of Populism, I lean more towards the Libertarian side of the debate, I don’t like populism because what typically occurs when the energy is zapped from any Populist movement is more socialism.

Donald Trump because he spent his entire life in the Private Sector, not only in real estate but also in the media spotlight, comprehends certain economic and behavioral patterns in humans that the average person can’t even fathom, and when the related that Donald Trump can’t be replaced starts to take shape in culture, the conservative and Liberals who support Populism will again return to the corners of ignorance looking for another political “leader” who makes them feel good.

With that said, what the Socialists like economist Armine Yalnizyan and journalist Linda McQuaig aren’t understanding is the inevitable market crash that’s can’t be fixed with raising taxes. Most rich people do not hoard FIAT MONEY, in easy to understand terms, Cash is trash to most Billionaires. Cash can be taxed and claiming a wage is a voluntary action by billionaires. With cheaper lending Billionaires are better able to purchase cash-flowing assets.

Cash flowing assets aren’t taxed at the same rate or in the same structure as wages are taxed, furthermore, income earned from cash-producing assets can be reinvested into more cash-flow producing assets. There’s a reason why rich people don’t work for WAGES, even Linda McQuaig says that in the 1940s to the 1980s INCOME TAXES were higher than they are now.

For you socialist-minded people who think, well if rich people don’t pay income taxes we can just tax them on other incomes they make unless you plan on nationalizing every industry as Fidel Castro did, then the answer is no, you can’t stop rich people from not paying taxes they don’t have to pay, the real answer to this question relies on if you want to retire or not!

Retirements are dependent on investments for the future, this is why the tax code is structured the way it is. Eventually, we all get old, but some of us retire with more money than others, eliminating or taxing billionaires out of existence, I assume by growing the public sector, equates to more poverty for everyone, especially more poverty for the people who don’t produce anything for the economy, namely, the retired, people on welfare and people who couldn’t survive economically without the productive people in the private sectors of society producing more than enough income to feed the Welfare State.

There are lots of countries all over the world with giant welfare states in which the Governments of those countries control the means of production, the problem with these Socialist, Communist Countries is that the people in those socialist countries don’t produce enough beyond their means, to have a stable welfare State. Even in China, nobody wants to be on Welfare, even in China, it’s the job of the family to prepare for Mom and Dad’s retirement.

The Welfare State in Communist China doesn’t have enough money Welfare, because although the Chinese Communist Party has allowed free markets to flourish to some degree in China and although China has favorable tax policies, foreign investment is reluctant to hoard money in China, in fears the Chinese Communist Party might Nationalise private industries, something the Chinese Government has been doing year after year for decades.

It’s not all about the money, it’s about raising the standard of living for humanity and this is what’s missing from the arguments being offered by economist Armine Yalnizyan and journalist Linda McQuaig. They’re assuming that taxing billionaires won’t equate to Public Sector employees not only growing the size of government but also giving themselves a pay raise.

In modern-day Canada, Public Sector workers are not only unionized but in many instances, public sector workers are making more money than most people working in the private sector. Now, even if we tax billionaires out of existence, and this plan works, will the public sector workers and journalist politicians like Linda McQuaig who is part of the NDP Government, be willing to give up their entitlements to make everybody equal?

Currently, Ontario Public School teachers who make between $40,000 – $100,000+ per year for 8 months of work are striking because they feel they’re working too hard for not enough money. Now, being that the PUBLIC school teachers are reliant on tax collection derived from the poor and middle class is the politician Linda McQuaig willing to sit down with them and tell them they like the billionaires should lead by example and consume fewer tax dollars from Canadians.

Because collectively Public Sector workers make trillions of dollars which in reality is typically less than billionaires collectively are responsible for hiring and providing for the retirements of their own employees as well as providing the government with enough money to allow public sector workers as well as Canadians dependent on Welfare to survive.

Again most of the money rich people have is reinvested, Bill Gates, Warren Buffet, Jeff Bezos these people aren’t flush with the cash they’re valued at, if you read articles it says these billionaires are WORTH billions of dollars because of the value they bring to GOVERNMENTS, consumers, employees, and investors. If you tax them out of existence you would have to nationalize the companies they own and if you haven’t been paying attention to the argument I made about the public sector, public sectors are financed primarily by the PRIVATE Sector. If the public sector could do everything, China would have the best Welfare State on the planet.

China by far is the best communist experiment on earth and even they have to allow private companies to generate wealth before the Chinese Communist Party nationalizes those companies out of profitability. Oil-rich Venezuela was destroyed by taxing and confiscating billionaires out of existence, people forget that Russia has the richest man on earth, Vladamir Putin is billionaire but Russia in comparative terms is rather poor to Western Nations because anytime the Russian government feels like it, they can confiscate the wealth from the leaders and innovators who helped create it.

If I create something, namely if I create intellectual property and the government will nationalize it the moment I become a billionaire, thereby taxing me out of existence, who’s to say the government will know how to run the company better than I can run it? When you put a cap on earnings, humans will do what most wage earners do to avoid the progressive income tax, they’ll work less. They’ll work fewer hours, or in the case of the self-employed, they claim less income or because they’re the people with the skills they’ll charge more for the services they offer.

During the 1940s to the 1980s ask your parents if they paid more taxes? They’ll tell you no, the taxes existed but barely anybody paid them. There were more was to avoid paying taxes back then, people forget a lot more small businesses existed in the 1940s to the 1980s part of the reason the unions went to war with small businesses because small business undermined the minimum wages and all the silly government-enforced regulations, that the progressives of that era levied on the people.

People paid with cash in those eras, now we’re in the digital era of taxation, however, primarily because of Barack Obama who bailout out the banks and didn’t allow the Global economy to deflate, Asset prices have ballooned which is the main reason there are so many billionaires right now. There’s a huge credit market and people who have access to that credit market are spending at record levels. Just because the news puts the words billionaire next to someone doesn’t mean that they have a billion in the bank! It means they’re worth a billion and the number one reason these billionaires are making so much money is that Governments globally don’t want Austerity measures.

Understand that if the bubble burst and deflation happens, public sector workers become the real problem of society. If you get rid of the billionaires, the public sector will suffer the most. Anyway, all is well in my world, but if you subscribe to this socialist nonsense being spewed by the female debtors don’t be surprised when the stock market crashes and your hope for retirement is ruined.

Pitchforks in the streets will eventually turn on the public sector workers because after all there are only 53 billionaires in Canada?

Let’s say we kill the 53 billionaires, all of a sudden overnight the public sector workers in Canada are collectively the richest people in the country.

Don’t forget when you tax or unionize the billionaires out of existence, these billionaires take their job creation abilities with them, ask an Ontario GM worker about that!

In most communist countries the government workers are the richest. So to all, you big government socialists, be warned, that typically once your tax-the-rich schemes fail the people turn on the government, this is part of the reason Americans refuse to give up their guns!

Interesting times ahead!