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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@9VDZDY97mos7MO
there shouldnt be a tax on your paycheck. we pay tax on everything we purchase so by taxing the paycheck then taxing what we pay after we get our check we pay more in taxes then we receive .
@B46PKZY1mo1MO
No. Lower income tax, increase sales tax on non-essentials, limit tax loopholes for large co-operations.
@9ZCXM5Y6mos6MO
Lower income tax on the middle and lower class raise income tax on people who make more than a million and raise income tax on billion and million dollar corporations, abolish all tax loopholes for the rich and corporations.
@9F4F8G82yrs2Y
Yes, and remove any possible loopholes that are currently being used or could be used by large corporations
@9CBKZDD2yrs2Y
Yes, especially on the highest tax brackets
@8VSSTYW4yrs4Y
Keep the current tax structure the same but learn how to spend better!
@B4VB3F34 days4D
Yes, and disallow all deductions and and remove all existing tax loopholes and lower taxes for the poor
@B4V48CV4 days4D
The definition of rich needs to be defined here. Doctors, who are desperately needed in this country, should not be taxed at over 50% on ANY income. This is just one example. $250k of annual income is not even close to the top 1% of income earners. the tax brackets should progress much more gradually up to millions of annual income.
@B4V3T8Z4 days4D
We’re taxed on everything. It’s too much, especially for the lower and middle class. I support lowering the overall tax burden and simplifying the system
Make taxes more reasonable per income class. Lower and middle class need lower taxes, upper class need higher taxes.
@B4QYSGM1wk1W
The ultra wealthy should be taxed more. What is often considered wealthy is now just middle class. 200k salary isn't wealthy anymore.
@B4PWV8G1wk1W
yes, but it depends on your definition of "rich". the ultra wealthy should be forced to pay their share. particularly on trusts and inheritance
@B4N2BXY2wks2W
But not on employment income, raise taxes on income from other sources such as stocks, investments etc.
@B4LY4X22wks2W
Increase taxes on the people who have most of Canadas wealth. the top 3% of the population has the most wealth.
Lower tax rates for middle and low income brackets, greatly increase it for millionaires and remove loopholes for corporations.
@B4GVYZL3wks3W
Lower the gst or remove it on things like homes and cars that are expensive items everyone needs
Taxing income at 40% and then adding another 13% tax on most items means 50% taxes for people. It’s too much given the greed of corporations post covid.
Another option is to regulate prices on gas, groceries, homes, cars, and building materials
@B4F9SGD3wks3W
Yes. How much money is enough?? When you hit a certain amount of money like 50 million+ your taxes should be higher. It is easier to make money when you have money…something that most people don’t have the luxury of. So to me, if you have such a luxury, then you can afford to help those who don’t have this luxury by paying more taxes. It’s nothing personal.
@B4DZBPS3wks3W
Yes, increase corporation taxes, add a land value tax and reduce taxes for small businesses and individuals on middle to lower incomes
@B4DLN6Z3wks3W
A consumption tax or luxury should be applied to non essential factors. Anything purchased should be viewed via need vs want. rough example. We all may need a frying pan but we don't need bluetooth connected frying pans. We may need clothing but we don't need Guchi socks.
@B4BGJYP4wks4W
Under the poverty line, should have no taxes. Same tax rate for all other incomes should be same percent, and lowered from current percent. and remove all existing tax loopholes for large corporations.
@B4B6L3Q4wks4W
Income tax should be reduced but followed up with a wealth tax that makes the rich pay more and poor pay less
@B49TBJY4wks4W
Begin to increase taxation on large multinational corporations, and decrease it depending on their country of location and their proportionate investment into the Canadian economy.
@B49S5T9Conservative4wks4W
I think removing tax loopholes would be a better route, that being said, I think taxations in Canada is too high and we should cut it significantly across all income brackets and lower bureaucratic spending
@B49LKNY4wks4W
they should eradicate tax loopholes, and tax the rich more, however lowering the taxes our blue collar workers pay, because we keep the lights on and the food in the stomachs of the entire country
@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
@B47KN6S1mo1MO
Yes, raise income taxes and disallow/remove any tax loopholes for the rich, and for large corporations.
@B47GS391mo1MO
No, everyone should have lower tax because the poor cannot afford and the rich could become less wealthy
@B45X6NH1mo1MO
So much cash and app-based income not being reported. To increase taxes too much pushes innovation out of Canada.
@B45T7J21mo1MO
There should be encouraging situations for entrepreneurs so the tax system should improve to ensure it happens
@B445WWQ1mo1MO
2 options either lower income don't pay tax only rich and raise tax on rich or no taxes at all to anyone
@B445BPHConservative1mo1MO
I think it depends on how rich the person is, if they make more than average but would be really impacted by a tax increase than I think not but someone who has millions and would hardly notice a change seems fair.
@B442LWM1mo1MO
If everyone contributed the same amount there would be no animosity between employees in different roles
@B43S6GL1mo1MO
no but only because it will drive the richest of our economy out of the country. if america introduced a similar stance on taxing the rich, id be all for it.
@B43S4G81mo1MO
Close loopholes used by the rich to skirt income taxes, lower taxes on lower and middle class wages, and increase taxes on highly profitable corporations and individuals.
@B43QV9M1mo1MO
Yes by an order of magnitude, remove most loop holes. Also increase taxes on large corporations while reducing taxes for small businesses
@B43N69X1mo1MO
After a set amount of money is made per individual human(not business) example of $300,000 should be taxed at 90%. No one needs that much money in a year.
@B436YFH1mo1MO
I believe that everyone should have the equal amount of taxes to pay depends on the product they are buying. HOwever the taxes should be lower for the people that are struggling and as well as the rich because it is not gonna be fair. Therefore taxes should be lowered in general.
@B3Z7CNJ1mo1MO
Lower income taxes for anyone earning less than 150 000$ a year and lower sales taxes for food and first necessity products.
@B3VGX9M1mo1MO
No, the rich made that money themselves and they already pay taxes so it's fine. They do what they want with the things they make through their sweat and blood. It would be nice if they shared some if they wanted too tho.
@B3KVQRK2mos2MO
Taxing the rich only works if the US does it too. While I'm in agreement we need to tax the Rich, Canada can't take the lead and do it while US provides all tax cuts. That leads to all businesses; Tech, Film and etc to leave Canada, causing Canada to lose jobs.
@B3HNKCJ 2mos2MO
Increase tax on large corporations and businesses, close the loopholes, double down on billionaires tax dollars and decrease taxes on lower income families
@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
@B3FQZNN2mos2MO
The tax bracket should be adjusted according to inflation rate and cost of life. People should be able to buy houses, raise children and have enough money for retirement and current tax rates are preventing building wealth.
@B3FMJ9B2mos2MO
Yes, and abolish income tax for all low-income residents with yearly incomes under a certain threshold
@B3F2G6X 2mos2MO
Implement a progressive tax system or tax free basic income for those in the lower class tax bracket who do not already receive government financial support like Welfare.
@B3DKRGP2mos2MO
No everyone should pay the same tax why do rich people only actually gain half of each dollar they make
@B37ZXR22mos2MO
Yes, but the government must ensure that there are laws/regulations in place to prevent the ultra-wealthy from bypassing paying their taxes; ie: off-shore accounts or money laundering
@B35MPHB2mos2MO
Any company that shows "record profits" every reporting period, gives bonuses and obscene payouts to their top brass and shareholders should be taxed to maximum levels until they pay liveable wages, have unions, pay into great insurance and retirement plans, etc.
@B35G8QW2mos2MO
Everyone should be taxed the same percent based on annual income. For example someone making $300 000 a year would pay 10% of that in taxes ($30 000), and someone making $40 000 would also pay 10% of that to taxes ($4 000).
@B3549GF2mos2MO
Yesss! cause little rich billy's need to lose money and stop flexing on the poor with their new porche and IPhone46678753362378459847363674858473 mega mega!
YES those little rich kids need to loose money! and stop flexing on poor people with there new porche!
@B34SN6D2mos2MO
Should depend on the job/ business on how much they contribute to community and canada, doctors for example should be taxed less
@B2QW7PJ3mos3MO
Absolutely not, I don't think that it makes any sense to do this, the rich worked for it, I don't want to give up anything because of some stupid couple that doesn't know what they're doing and having a child when they don't have the money to support it. It's not my fault that somebody else is poor.
@B2QH67Y3mos3MO
Lower income tax in general and the Gov. should buy businesses and make money in other ways. Our money is not used efficiently.
@B2QCXXB3mos3MO
Raise income taxes on the rich and corporations. Abolish sales tax. You should not be allowed to tax people on what they earn AND everything they buy
@B2KS8R93mos3MO
Tax brackets should be changed according to economic growth, if the economy is not earning much then instead of increasing taxes they should provide subsidies.
@B2H6LTYNew Democratic3mos3MO
I don't think so because people earn that money by hardwork so I think tax is same for all the peoples.
@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.
@B286ZK4New Democratic4mos4MO
Taxes should be proportional to your net worth (or wealth for those who use debt as a way to lower income), including any non liquid funds/assets, so corporations/Individuals cannot use the current loopholes to lower their taxes.
@9ZXWKQMConservative5mos5MO
Yes. However, ensure that the taxes are not too high to make people who own businesses think about going to the States to run their businesses.
@9ZXMNFX5mos5MO
No, but have systems in place to ensure that the general population has an income that is near to one another.
@9ZTYYCS5mos5MO
I am unsure of which side to choose with the question, mainly because many of the "rich" have worked hard to reach their place in society. If they were taxed more, it would make it harder and would even cause rich people to move away from that country, which may affect our economy in some way because many rich people own businesses and companies in Canada. If they were to move away and bring their businesses with them, many people would lose their jobs.
@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.
@9ZMYJ4P5mos5MO
Abolish the Income Tax. For people who make 100k or over per annum, the GST percentage should be 5% for each purchase. For people who make below that threshold, it should be 2%.
@9ZLDVNL5mos5MO
Make anyone who’s income is $150,000 or more pay 5% in taxes. Make people who earn below the threshold pay 2%. Abolish the income tax entirely.
@9ZHL5985mos5MO
No, it should be lowered slightly for the wealthy but not the extremely rich. Loop holes should also not be allowed larger corporations.
@9ZHCGXD5mos5MO
Absolutely not, as they would be citizens, how would it even be fair for them to pay higher taxes just because they have more money? All the citizens should pay the same equal taxes.
@9ZDCKDQ 6mos6MO
lower it but also find a way to get rid of the loopholes so that everybody pays less taxes and those who have the wealth dont skip out on paying them
@9YNQFHTNew Democratic6mos6MO
Adjust the income tax rate appropriately and remove all existing tax loopholes for large corporations and the “super rich”.
@9XHYBDN6mos6MO
Yes, but for the ultra-rich only, and lower the income tax for low-income, middle-class, and even upper-middle class.
@9XCCXXJ6mos6MO
No, I think all the taxes that we pay should all be the same amount that everyone else pays for taxes
@9X9LXM66mos6MO
it doesnt matter what you get payed, you pay the same taxes and live in esentially the same area. people shouldnt be rewarded with lower taxes for making bad choices when they were younger.
@9WTX47X6mos6MO
Yes, but lower the income tax rate for middle and working class citizens and remove all existing tax loopholes for large corporations
@9WR8G396mos6MO
Tax the 130k plus people more, not single parents, and decrease taxes for the less income people. And increase the taxes for corps, and the top most wealthy, there shouldnt be billioners.
@9WBL9TK6mos6MO
No but make it mandatory that a percentage of profits are reinvested into business and not realized by owners
@9W6LHHB6mos6MO
Lower taxes for the poor increase taxes for the rich and remove all existing tax loopholes and be able to choose to pay specific taxes on which do you actually use
@9W4LHPN6mos6MO
Raise taxes on the wealthy, remove all corporate tax loopholes, and lower income tax for middle class.
Lower income tax IF it's possible to remove all existing loophalls for large corporations. If not, then increase tax for anyone earning upwards of $8million per year (in money or stocks or other capital forms)
@9VW3LQL7mos7MO
No but make sure the rich aren’t using creative accounting practices to avoid paying their fair share.
@9TBN9CSIndependent8mos8MO
No, but enforce federal regulations that enforce the rich to pay and prevent tax evasions through any legal loopholes.
@997TSH82yrs2Y
@B4TN8344 days4D
Yes to the maximum rate that does not disincentivize investment which leads to growth in GDP and growth in employment
@B4TMX4Y4 days4D
I think everyone should pay a percentage of their income. If you make $100 you have to pay 10%. If you make $200 you pay 10%.
@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
@B4SVCXL6 days6D
What is the definition of "rich"? Anyone who makes more than $1 Million should be taxed at a higher rate
@B4SRGYM6 days6D
Yes it should go back to the way it was before trickle down economics ruined the middle class. High taxes on the rich, none on people who earn less than 50k a year
@B4SCCHB7 days7D
What’s considered rich? 38% income tax means my raises over 35 years of hard work, feeding the world and loyalty are for someone else. Ridiculous
@B4RK6Y41wk1W
Raise taxes on the rich, lower the income tax rate for the lower tax brackets, remove tax loopholes for large corporations.
@B4R2Y9D1wk1W
taxes should raise based on income, but be capped to a certain percentile for ultra-rich individuals. While they *should* pay more in taxes, unfortunately having them in the counry does positively effect the economy. Making them leave to save on taxes just makes those other countries (usually the U.S.) much richer.
@B4R2GP71wk1W
Lower taxes on middle and lower class, increase on those that make more than 1 mil; and abolish most loopholes on major corporations and increase what they pay.
@B4P4WM82wks2W
The rich have money to pay the accountants to plan best for lower taxes, this will just result in the middle class paying more
@B4NX84L2wks2W
Lower income tax on the middle and lower class and raise income tax on people who make more than a million. abolish all tax loopholes for the rich and corporations. Stop taxing our paycheques. We already pay taxes on all goods, then we have to pay taxes form our paycheques, it’s robbery
@B3QNMWT2mos2MO
Billionaires should not exist. One person does not require that much wealth and it does nothing to promote our society. Anything over $300,000,000 should be taxed at 95% and the government should use that money to strengthen society.
@B3LY7CD2mos2MO
Keep current income tax policy, raise income tax bracket thresholds to match inflation but increase income taxes to a maximum of 35% of Canadians with $250,000+ annual income. Remove tax loopholes for all corporations including self-owned businesses and provide tax incentives for Canadian-sourced materials/labor. Abolish property tax for residential dwellings, excluding condominiums & high-rises.
@B39J9Q92mos2MO
Reform the income and carbon tax, the more you make the more you owe, the less you make, the less you owe
@B38NWBT2mos2MO
Yes and no... I wouldn't want them to seek other methods of negating the increased taxes they would have to pay by decreasing wages of their companies or increasing prices of their products or something like that.
@B38K4D7Independent 2mos2MO
Yes. Mixture of abolish income tax, reform flat tax, and lower rates for us and must remove loopholes.
@mooncatcher 2mos2MO
Raising taxes on the rich does not accomplish equity in any meaning way when the super rich can easily circumvent them
@B34FTDL2mos2MO
There needs to be more than 4 tax brackets, and hst shouldn't be 13% for everything. Different items should be taxed more or less depending on the item
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