Federal NDP’s proposed ‘super-wealth tax’ could fuel fewer investments in the Canadian Economy – September 11, 2019,
I’ll try to keep this post straight to the point and short, because this topic isn’t worth discussion, because if higher taxes worked, governments wouldn’t need fiat money and fractional reserve banking to maintain solvency. So Jagmet Singh and the NDP are promising all kinds of free crap for voters and in order to pay or all this free crap they plan on offering, the NDP obviously doest plan to make any cuts to the National debt, or cut the size of the bloat government, n instead they assume they’ll get the money from some uber-rich people, who I guess the NDP assume won’t sell off assets or change their behavior to avoid the tax.
I fond it odd that the NDP supports a carbon tax which is used to changed behavior yet they think that adding a tax directed at a particular demographic won’t cause those super-wealthy to change how they behave? I’ll tell you the reader a story about Wendy’s. I used to go to Wendy’s at least once per week until Kathleen Wynne raised the minimum wage and Justin Trudeau added a Carbon Tax thereby forcing Fast Food chains to raise their prices on their customers, gas-powered trucks deliver the food. Well, I go to Wendy’s maybe once per year now. I’ve changed my behavior because for me 7 trips to Wendy’s now costs me more than $100
So, the parliamentary budget officer (PBO) says the following in the article you can read below:
the cost estimate is highly uncertain, in part because wealthy households are likely to take steps to avoid the tax. “A large behavioural response is expected, due to avoidance and valuation optimization by wealthy families,” the analysis reads.
Now, I get it, most Leftists are headline readers while those of us on the political Right, go with historical data and we use common sense. The modern-day Left is comical and silly. Actually read this and tell me it doesn’t sound silly, this is a portion of the very same National Post article written by Maura Forrest
The NDP would likely need the extra tax revenue to pay for major spending promises, including a pledge to enact universal pharmacare in 2020 with annual federal funding of $10 billion, and to publicly fund dental care, vision care, mental health care and hearing care within 10 years. The party has not provided estimates of how much those promises would cost.
“Canadians deserve… expanded health care services to cover people head-to-toe – and we can do this when the very richest pay their fair share,” Singh said in the news release.
Publically fund mental care? along with every other health care a person can imagine? Now, just being honest, I’m all for funding mental health, primarily because I think most Leftists have mental health problems that are related to them not understand basic economics. When a person actually believes that a Politician can enact a law and that there are only Pros and No Cons to the Government and its donors taking over entire industries and thereby making anything that opposes their new economic law ILLEGAL, if you think this type of social engineering isn’t going to cause incorrect perceptions of reality, you’de be crazy.
There are still Canadians that think Universal health care is free? There are still Canadians who don’t understand that options in health care are limited because of the Canada Health Act. Until you get arrested you usually won’t know how inefficiently run the Canadians Government is, until you get sick and are potentially going to die and learn that you have to wait in line for a surgery that you can get down immediately in the United States, you don’t know how inefficiently run helth care is in Canada, until you have to wait in a Canadian hospital for hours just o see a doctor, you don’t know how inefficiently run Canadians health care in Canada is, until you’re a health care professional, who actually has to do the physical labour required in a heavily regulated, stressful environment you won’t understand how destructive these laws are to peoples mental health.
Furthermore, Public servants in Canada are allowed to Unionize, this ofcourse is the real reason why prices for public services go up, the rich always pay their fair share, it’s actually the so-called poor people who have been on Welfare and refuse to work jobs that they believe are beneath them that refuse to pay their fair share. It’s those people who consume more in public services than they pay in, these are the people that aren’t contributing to Unionised public servants demanding higher pay. There’s a huge mental health crisis amongst Leftist all over the world.
Fortunately for the Leftists there exists Fractional Reserve Banking and Fiat money, but even this monetary system has its limits, most assets inflate primarily because of the Government. The bigger the government gets, the more it has to borrow, the more the government borrows, the more the government has to pay in debt financing, the more the government pays to finance the money it borrows, the more expensive the cost of living gets, when the governments attempt to raise taxes on 1 demographic, just like myself and my choice to stop eating Wendy’s, humans will change their behavior and in the case of Canada, the Rich can sell any CANADIAN dominated assets that will force them to pay more than they need to pay.
Most of the rich don’t use money, they use debt, if Jagmets plan is to raise regressive taxes, well sales taxes and taxes like that get passed onto consumers, this ofcourse accelerates the likely hood of recession. NDP leadership in British Colombia basically embraced Jagmet Singh’s economic ideology and a huge Gas price hike was the end result. Simple, basic economics lesson, if a rich persons assets exist in a space where they can pass the costs onto the people who voted for the law, they’ll do it. If the asset the rich person owns get be passed onto to the consumer, typically the rich will sell that asset at loss, leave that asset dormant or limit their personal risk to it. Money is nothing more than a form of barter, just because governments get rich off of taxes, doesn’t mean that money is always the best asset to hold.
Staying with the theme of ASSETS consider reading the article below titled NDP financial return shows party ended last year $4.5M in the red
NDP financial return shows party ended last year $4.5M in the red | GlobalNews.ca
The NDP doesn’t even respect the money they receive from donors, the people behind the NDP clearly can’t balance a checkbook, worse still the article above is a clear indication that they’re horrible at anticipating future values of an Asset. An asset is only as good as the person(s) managing it. A person could be in Vancouver with a million-dollar home, but if that person can’t afford to pay their mortgage, is that home an asset if they’re forced to sell their million-dollar property at a loss? Purchasing or buying assets with the wrong mentality quickly turns an asset into a liability. If Canadians are dumb enough to vote for Jagmet Singh, don’t be surprised when the entire Canadian economy looks like the NDP financial return.
Interesting times ahead!