Increasing taxes on the wealthy requires nuance. I broadly agree those with more should contribute more, however how you do so is important. Increasing taxes strategically and closing tax loopholes for wealthy asset owners would be a more pragmatic approach than a blanket approach of raising capital gains or punitive increases to tax rates for high earning workers/employees. Tax policy should strike a balance between equitable contribution, while maintaining competitiveness and incentivizing innovation and the inflow of capital much needed in our country.
@B2HGMX3 2mos2MO
If you continually increase taxes, it will eventually lead to less income for the government. This is because wealthy individuals will either figure out ways to avoid taxes (legally or illegally) or they will just move away all together. The top tax bracket in Canada on income is already 53%, not to mention taxes of at least 5% (GST) on goods, plus luxury taxes on goods like nice cars/vehicles. So no, taxes are high enough for the wealthy, figure out how to make do with the money that you have.
@9GQ3YQR1yr1Y
You make your OWN money. Why should a person making 300k be taxed any different than someone making 30k. Is a loaf of bread cheaper for the guy making 300k?
@9FTQ666Conservative2yrs2Y
People who have worked for there money shouldn't have it taken away from them, by doing so many businesses are not being made of staying in Canada as other countries have much lower tax rates
@9F8WN752yrs2Y
I think instead of increasing taxes for the rich we should make the penalty for tax evasion much stronger and increase our efforts to ensure the wealth are paying their fair share under the current tax system.
@9GJS3WM1yr1Y
There will be less instinctive for the rich to live in Canada and also for innovative people to come from Canada.
@9FVTPMXConservative2yrs2Y
Thats simply unfair. Those people earned their money by themselves and there shouldnt be repercussions for being wealthy.
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