Should Canada raise taxes on the rich?
Australia currently has a progressive tax system whereby high income earners pay a higher percentage of tax than low income tax. A more progressive income tax system has been proposed as a tool towards reducing wealth inequality.
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@B48NXNX4wks4W
Yes, however this will be bad for the economy if it does not focus on capital gains, inheritance, and tax loopholes. Keep personal income tax hikes modest to avoid brain drain. And is pair with incentives for business and R&D to offset downsides
@B3Z7CNJ1mo1MO
Lower income taxes for anyone earning less than 150 000$ a year and lower sales taxes for food and first necessity products.
@B3G2PTY2mos2MO
The income tax percentage shouldn’t be such a high percentage when exiting under 51000. Maybe introducing a smaller bracket between 51000-121000. If you pass the $51000 bracket you don’t see a difference on your paycheque because of taxes
@B28DP3Y4mos4MO
Increase taxes for centi-millionaires via a new tax on investments into stocks, crypto, bonds, etc... Impose a 10% tax on investments, use the generated revenue to buy Canadian treasury bonds, and use the yield from that to pay for a national basic income program.
@9ZQ5RS75mos5MO
Stop printing money all together, inflation is a government phenomenon. Taxes do not cover inflation. It does nothing. The dollar still devalues. The money should be a fixed supply.
@B4TBTHB5 days5D
Tax the rich. People who make more than 300 000 every year. And abolish all loopholes that help bigger corporations. And lower income tax for the middle class and lower class
@B4SX2FF6 days6D
Yes and reforme the tax system in a way to benefit less the rich, for example the TFSA and RRSP, which only people with disposable income can benefit
@B2SX7XJ3mos3MO
Income tax should be simplified, all loopholes and deductions removed and based on your income or profit for businesses. below 50K no one should be paying taxes, above that limit to some reasonable upper limit it should be minimal, above that it should become higher. at some point above a certain point there really is no need for one person to amass such wealth and it should be taxed or they should be required to invest it in education, libraries, the arts, roads, charities etc.
Yes the government should but only for the highest income brackets, for instance income of more than 150k per year
@9L58G3R1yr1Y
I think it depends on what we count as rich, the owners of really big corporations that are making millions of dollers should be taxed, but I dont think we should be taxing people work a well paying job (doctors, lewyes, etc) as much as we do
@9GZYG4J1yr1Y
Regardless, reform to destination-based cash-flow tax (DBCFT) and remove all existing tax loopholes and deductions, also abolish across Canada: payroll tax, sales tax, capital gain tax, interest gain tax, property and school tax, corporation tax, car tax, airline tax, cigarette and all other smoking products tax, alcohol tax, petrol tax, carbon tax, internet tax, diverted profit tax, luxury goods tax, mansion tax then enact: automation tax, mortgage tax relief, (packaging tax, plastic tax and plastic bag tax until bio-plastic is widely use which should not be taxed).
@9FLWBY22yrs2Y
it makes sense but i dont really see the point and nor do i care
@9V9R5P2Conservative7mos7MO
I don’t think the Canadian government should raise taxes on the rich but rather take away all the ways that rich people can get away with tax breaks.
@9RDH4P59mos9MO
Reform it to a flat tax for all based on net worth with no loopholes or exemptions. One tax for individuals and a higher one for corporations.
@9D6R7J42yrs2Y
No, but watch those who worked and earn their income under the table and taking welfares from our taxes.
@9BY2HDF2yrs2Y
Yes, but reduce taxes for middle and lower income brackets.
@94CXG6G3yrs3Y
Abolish the income tax and lower the sales tax.
@925JS2LConservative3yrs3Y
Reevaluate current brackets to reflect inflation and introduce a new bracket at the top
@8ZNXF8FConservative3yrs3Y
Tax the poor more instead
@8XKT3BG3yrs3Y
No, instead reform to Destination-based cash flow tax (DBCFT)
@8WFRGBH4yrs4Y
Reform or re format tax law.. increase tax to rich people they’ll find a way to get it back.. increase tax in middle down family more government support is needed…
@8W2DVLR4yrs4Y
Should raise it on income over $5M
@8VWB62X4yrs4Y
Yes, raise taxes for individuals earning over 400 thousand dollars a year and lower taxes on individuals making less than these. Also remove tax loopholes;)
@8VSN9GJ4yrs4Y
yes raise taxes on the rich and lower taxes for the poor and remove all existing loopholes for large corporations!
@8VSHKHB4yrs4Y
Income tax bracket should be the same percentage for everyone with different deductions and credits
@8VKNNBW4yrs4Y
Tax ratio to debt ratio over a 10 year period.
@8VK33KS4yrs4Y
The rich should pay more and remove all loopholes for ALL big and small corporations.
@8VH9LRVConservative4yrs4Y
A lot of rich people are aware or potential tax evading mechanics. I suggest that the government changes the way they tax rich people and raising the taxes. In Canada, rich people are being tax properly based on the % that they earn.
@8VH2TZWConservative4yrs4Y
Reform to flat tax rate for personal income taxes and small businesses with less than $750 000 per year in revenue.
@8VFLJ7N4yrs4Y
Federal and provincial taxes are illegal, they should be abolish.
@8VDV7PW4yrs4Y
Reduce tax on those making less than $120k, keep the same for $120k-$299k and increase for those making above $300k but offer more incentives for tax breaks through investments in province/country
@8VBVWGR4yrs4Y
Tax everyone as needed to provide for those in need.
@8V8J7R84yrs4Y
Flat tax rate, remove loopholes and deductions for wealthy people
@8V6VN9S4yrs4Y
lower the taxes for lower incomes and remove all existing loopholes for everyone.
@8TYZPLK4yrs4Y
Raise Tax the large corporations and people who make more than 60,000$
@8TWN5HT4yrs4Y
Based on percentage of over all salary
@8RR4Z5R4yrs4Y
Id prefer to live in squalor
@8R28YGL4yrs4Y
Yes but only on the very high income bracket, > 300k and close corporate loopholes
@8QFKPTS4yrs4Y
Increase dividend and income taxes but abolish the corporate tax
@8PVV3QC4yrs4Y
No everyone should be equal EVERYBODY
@8PRN58W4yrs4Y
It depends, those who are wealthy shouldn't be charged more just because they earn more.
@8HJMZY55yrs5Y
The taxes should be raised for large corporations
@9BGGY7L2yrs2Y
If they raise taxes it'll effect all high income families with generational wealth
@99H674Z2yrs2Y
Canada can't tax the rich because the rich don't own anything. Wealthy Canadians can just base their businesses and assets from other countries to avoid Canadian taxes. The system is broken.
fix the tax for the billionaires first you donkeys
@98B6XQZ2yrs2Y
Yes, and abolish regressive taxes (Carbon Tax, HST, GST) & close all tax loopholes
@8QK244Z4yrs4Y
Ensure to raise taxes on income per household greater than 400K and have large corporations contribute a fair share when compared to small businesses and minimum wage employees.
@964CN253yrs3Y
Taxe the rich and lower taxes for the poor and middle class
@95WPYYR3yrs3Y
Flat tax with a cap of 25%. Someone who makes 100,000 pays $25k. someone who makes 200,000 pays $50k. The wealthier earner still pays more tax but it equitable.
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