[Canada] Canadian Politics Redux

[viper37]

I am not opposed to a wealth tax in principle, but it has to be set at a level where it actually taxes only the wealthy.

As you have said, with the dramatic increase in housing prices, people who were lucky enough to purchase their houses years ago on an average salary (and are still earning an average salary) should not be caught by a wealth tax.

That's the problem when you set the bar so low and include the house.  It's fairly easy to reach the million $ for middle class people.  A million $ in assets is not the same as a million $ in a bank account.  But to the average elector of this party, it sounds exactly the same.

I wouldn't be opposed to a wealth tax either, or a tax on succession higher than 1%.  I wouldn't even be opposed if the principal residence would be included, so long as it way beyond a million $, or if it's adjusted of localities.  If my house was worth 1 million$ here, I'd live in a mansion.  I remember helping my ex finding a new house in Montreal, near her job, some years ago.  It was in the eastern part of Montreal, supposedly more accessible (Pointe-Aux-Tremble, for you GreyFox).  At 400 000$, she could get a burnt down bungalow with only the foundation standing.  Prices were insane, and kept increasing since then. 

People are already taxed by their cities on the plus value on their house and these morons want to add another annual tax on top of it. Fortunately, they won't reach power to implement it.  Unfortunately, the idea is out there.  No danger for this election, but I hope we never reach again a minority government where their votes could be needed, like the NDP is for the Feds.

[garbon]

I am not opposed to a wealth tax in principle, but it has to be set at a level where it actually taxes only the wealthy.

As you have said, with the dramatic increase in housing prices, people who were lucky enough to purchase their houses years ago on an average salary (and are still earning an average salary) should not be caught by a wealth tax.

That's the problem when you set the bar so low and include the house.  It's fairly easy to reach the million $ for middle class people.  A million $ in assets is not the same as a million $ in a bank account.  But to the average elector of this party, it sounds exactly the same.

I wouldn't be opposed to a wealth tax either, or a tax on succession higher than 1%.  I wouldn't even be opposed if the principal residence would be included, so long as it way beyond a million $, or if it's adjusted of localities.  If my house was worth 1 million$ here, I'd live in a mansion.  I remember helping my ex finding a new house in Montreal, near her job, some years ago.  It was in the eastern part of Montreal, supposedly more accessible (Pointe-Aux-Tremble, for you GreyFox).  At 400 000$, she could get a burnt down bungalow with only the foundation standing.  Prices were insane, and kept increasing since then. 

People are already taxed by their cities on the plus value on their house and these morons want to add another annual tax on top of it. Fortunately, they won't reach power to implement it.  Unfortunately, the idea is out there.  No danger for this election, but I hope we never reach again a minority government where their votes could be needed, like the NDP is for the Feds.

I just pulled this out randomly but if this was at all true - people with net worth of 1mil (even if tied up in housing assets) do appear to be in the top percentiles of Canadian society.

Not sure if wealth in link included that but really more to idea that even if said people don't feel 'wealthy' they do actually have significant wealth over others.

https://www.thekickassentrepreneur.com/family-wealth-distribution-in-canada/

[Grey Fox]

It's a Quebec particularity. Our mortgages are smaller than the RoC because our increase in house price is extremely recent.

[crazy canuck]

I am not opposed to a wealth tax in principle, but it has to be set at a level where it actually taxes only the wealthy.

As you have said, with the dramatic increase in housing prices, people who were lucky enough to purchase their houses years ago on an average salary (and are still earning an average salary) should not be caught by a wealth tax.

That's the problem when you set the bar so low and include the house.  It's fairly easy to reach the million $ for middle class people.  A million $ in assets is not the same as a million $ in a bank account.  But to the average elector of this party, it sounds exactly the same.

I wouldn't be opposed to a wealth tax either, or a tax on succession higher than 1%.  I wouldn't even be opposed if the principal residence would be included, so long as it way beyond a million $, or if it's adjusted of localities.  If my house was worth 1 million$ here, I'd live in a mansion.  I remember helping my ex finding a new house in Montreal, near her job, some years ago.  It was in the eastern part of Montreal, supposedly more accessible (Pointe-Aux-Tremble, for you GreyFox).  At 400 000$, she could get a burnt down bungalow with only the foundation standing.  Prices were insane, and kept increasing since then. 

People are already taxed by their cities on the plus value on their house and these morons want to add another annual tax on top of it. Fortunately, they won't reach power to implement it.  Unfortunately, the idea is out there.  No danger for this election, but I hope we never reach again a minority government where their votes could be needed, like the NDP is for the Feds.

I just pulled this out randomly but if this was at all true - people with net worth of 1mil (even if tied up in housing assets) do appear to be in the top percentiles of Canadian society.

Not sure if wealth in link included that but really more to idea that even if said people don't feel 'wealthy' they do actually have significant wealth over others.

https://www.thekickassentrepreneur.com/family-wealth-distribution-in-canada/

You always need to be careful about national averages.  In BC the average net worth is just shy of 1m.  In Newfoundland-not so much.

[Grey Fox]

My district has a fringe party candidate. The party is called Parti51 and it's raison d'être is to have Quebec join the USA has its 51st state.

[HVC]

My district has a fringe party candidate. The party is called Parti51 and it's raison d'être is to have Quebec join the USA has its 51st state.

Out of the Anglo frying pan and into the fire?

[Barrister]

My district has a fringe party candidate. The party is called Parti51 and it's raison d'être is to have Quebec join the USA has its 51st state.

How exactly do they think that's going to work?

First I think it doubtful they'd be admitted because it would almost certainly be democratic-leaning.  But also the US while note officially having an official language, unofficially is overwhelmingly white and often hostile to the use of Spanish or other languages.

[Oexmelin]

"Canada acceding to this confederation, and adjoining in the measures of the United States, shall be admitted into, and entitled to all the advantages of this Union; but no other colony shall be admitted into the same, unless such admission be agreed to by nine States."

[Grey Fox]

My district has a fringe party candidate. The party is called Parti51 and it's raison d'être is to have Quebec join the USA has its 51st state.

How exactly do they think that's going to work?

First I think it doubtful they'd be admitted because it would almost certainly be democratic-leaning.  But also the US while note officially having an official language, unofficially is overwhelmingly white and often hostile to the use of Spanish or other languages.

The nitty gritty of joining seems to rely on the fact that we were once invited.

They also think that while hostile to spanish the USA gives a lot more autonomy to it's member states so that might even out.

 

[Barrister]

"Canada acceding to this confederation, and adjoining in the measures of the United States, shall be admitted into, and entitled to all the advantages of this Union; but no other colony shall be admitted into the same, unless such admission be agreed to by nine States."

Curious had to google that phrase.  So it was a part of the Articles of Confederation.  I did not know that - learned something new today.

The only slight problem is that the Articles of Confederation were replaced in 1788 and are no longer in force...

[Sheilbh]

The only slight problem is that the Articles of Confederation were replaced in 1788 and are no longer in force...

Can't fault them for ambition though.

[Oexmelin]

Lol. Yes. But you asked what the plan was, and, as far as I know, that's the only plan in existence for Parti51. 

[viper37]

I just pulled this out randomly but if this was at all true - people with net worth of 1mil (even if tied up in housing assets) do appear to be in the top percentiles of Canadian society.

Not sure if wealth in link included that but really more to idea that even if said people don't feel 'wealthy' they do actually have significant wealth over others.

https://www.thekickassentrepreneur.com/family-wealth-distribution-in-canada/

From the link you gave:
"Additionally, there are 3 million families in Canada that have a net wealth of $1 million. These families are a part of the top 20% social group of the country. 
"

There a 33 million people in Canada.  So that's 20% of the population that is now categorize as "super rich" and be overly taxed.

Imho, it is unfair.  Just as you get out of debt, your already city taxes you and the value of your house and now your provincial government would taxes you on top of it because you have managed your financed adequately, or been lucky to avoid financial disaster. 

Essentially, such a measure rewards people who endebt themselves, willingly or not.  The real 1%, or 0,01% wouldn't be bothered by such measures as they likely own foreign assets or use tax heaven that wouldn't account for much of a bill in such situations.  So this is a tax on the middle class who can't dodge it. The poor with no assets will not pay it, the very rich will avoid it.

[viper37]

Hall hail King Justin!

Pierre Poilièvre has just been confirmed as the new leader of her his Majesty's loyal opposition, with 68,5% of the vote.

Justin Trudeau will lead a majority government for the next 2 elections.


EDIT:
still have problem with our beloved monarch's passing... :roll:

[crazy canuck]

Hall hail King Justin!

Pierre Poilièvre has just been confirmed as the new leader of her Majesty's loyal opposition, with 68,5% of the vote.

Justin Trudeau will lead a majority government for the next 2 elections.

I am not so sure about that. For the liberals to win the next election Justin Trudeau will have to step down and that is not going to happen. I think the next election is going to be the conservatives to lose.