Arguments Against Wealth Inequality - final, sorry
Another certainty is that the wealthy will concoct fatuous arguments to justify lower taxes for themselves. Most Canadians have had enough of this. A recent Abacus poll shows that a striking 79 per cent of Canadians favour a wealth tax. In fact, a wealth tax would be the simplest, fairest and most effective way to collect billions of extra dollars of revenue a year, and to limit the power and political influence of the billionaire class. A wealth tax only targets the wealthy. An NDP proposal — based roughly on proposals by U. Here are some of the facile arguments being trotted out against a wealth tax. Get our best delivered to your inbox. A wealth tax is foreign to the Canadian tax system. Arguments Against Wealth Inequality
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Another certainty is that the wealthy will concoct fatuous arguments to justify lower taxes for themselves. Most Canadians have had enough of this. A recent Abacus poll shows that a striking 79 per cent of Canadians favour a wealth tax. In fact, a wealth tax would be the simplest, fairest Arguments Against Wealth Inequality most effective way to collect billions of extra http://rmt.edu.pk/nv/custom/due-to-the-transaction-costs-being-lower/the-great-gatsby-and-american-pastoral-analysis.php of revenue a year, and to limit the power and political influence of the billionaire class. A wealth tax only targets the wealthy. An NDP proposal Agruments based roughly on proposals by U. Here are some of the facile arguments being trotted out against a wealth tax.
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A wealth tax is foreign to the Canadian tax system. In fact, Canada already has such a tax. A wealth tax has not worked in other countries. The wealth taxes adopted in many European countries were badly designed.
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They had low thresholds, so they taxed many people who were not ultra-rich, just well-off. The ultra-rich will find ways to evade or avoid the tax. Our tax laws, which permit widespread tax avoidance and evasion, are not laws of nature but policy choices made by legislators.
The only thing lacking is political will. A wealth tax would discourage savings and entrepreneurship. The tax would only hit those who have accumulated enormous assets, typically long after their initial entrepreneurial effort or those who have inherited huge assets through no effort. Does anyone seriously believe that, in the future, creative Canadians would stop being entrepreneurial if they thought they would only end up with a fortune of, say, many hundreds of millions of dollars rather than perhaps a billion dollars?
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Some wealthy taxpayers have very low incomes and thus might not have the cash to pay an annual wealth tax. They could easily sell some of their assets.
A wealthy family could lose control of a family business if it were obliged to sell shares in order to pay the wealth tax. Highly unlikely, but possible.]
Prompt reply, attribute of ingenuity ;)
In my opinion you commit an error. Write to me in PM, we will talk.
You have hit the mark. It seems to me it is good thought. I agree with you.