On 22/11/2011 3:53 AM, Alan Baggett wrote:
> Canada's ultra-rich — those in the top 0.01 percent — now have a
> bigger share of national income than at any point in Canadian history.
Yep, monopoly prop up from RIV Canada makes Jim Pattison rich as he can
over charge Canaidans in autos and food. Shaw family sure loves CRTC.
And governemtn sure likes those 18% excise and border fees, just to make
Canadians sucked dry for big fat government and the "famnilies"
(including mafia) that really run this country.
> While Canada's reputation as a leading peacekeeping nation has taken a
> nosedive, we're punching above our weight on the international scene
> on a new front — as a tax haven for the rich.
Sure has, like the US we are now baby killing war mongers. No where to
hide from Canada's F18s once they get fixed up to fly.
> "Canada is a desired destination for global high-net worth families,
> and the Canadian tax system makes it even more attractive," notes
> Toronto tax lawyer Jonathan Garbutt, pointing to Canada's lack of
> estate and wealth taxes.
You are kidding right? Pick Canada only if you are a billionaire so you
can bribe for your profits. Make sure to bring unmarked cash envelopes.
But for most, there are better places. Even Paul Martian knows that right?
> Sovereign Investor, a US website that provides advice to affluent
> Americans, says, "Canada is a safe, stable, lower tax country...
> (where) you can find an easy, affordable, manageable, accessible
> offshore bank account."
Funny, I prefer Panama. No -30C in winter there.
> This puts Canada at odds with what's happening elsewhere in the
> advanced world, particularly the US and UK, where governments are
> seeing the difficulty of reducing deficits without going after the
> people who've been capturing an ever-larger share of the national
> pie.
Tell me, is this a government propaganda cut and paste? I have lived in
more countries than most people have visited. I don't even remember how
many I have been in. You would be surprised when you travel all the
propaganda and bullshit ra-ra Canada is great....and then realize we are
the backward ones, managed like sheep by our government. Brainwashed in
K12 about this world.
And sorry, I don't measure quality of life as being a government owned
herd animal for the milking and bilking. No one taxes the herd more
than Canada. OECD numbers even show Canadians are taxed poor and are
high in debt and low on the wealth curve.
> For years, Canada followed the US and UK almost lockstep in cutting
> taxes on the rich. Now that those countries are heading in the
> opposite direction, Canada is suddenly marching to its own drummer.
Funny, I know the taxes I paid and they were very high compared to US
and other countries. If it were not for family/social reasons (mom
needed help) I wouldn't have come back.
Plus the hidden taxes and fees like 18% excises, GST, PST, fuel, booze
and even cheese....get you screwed at every turn. Most stupid Canadians
don't even know how screwed they are as being out of the country is
Jamaica for 7 days. I lived in other places, not just a visit.
So much bullshit, sorry, moose shit in Canada you can't smell any more.
CBC, CTV are feel good appeasement propaganda centers. If it isn't
Ottawa, NATO or Washington approved....it will be cleansed or censored.
> Barack Obama's vow last week that he'd veto any debt reduction plan
> that didn't include higher taxes on the rich — so that millionaires
> wouldn't pay lower rates than their secretaries — apparently stirred
> no interest in Ottawa.
Funny, if all the US billionaires just gave their entire net worth to
0bama, he would still run a deficit in that year. USA is so out of
whack with spending, and 0bama is so stupid or corrupt (not sure which,
maybe both) he is avoiding the huge problem G8/20 countries have.
We have governments far too big and we can't afford them any more.
Taxes isn't the issue, spending is.
How dare government cut back, that is for the producing people in their
government arrogance and petulance. They are after all NWO
egalitarians, the chosen ruling class.
Yet like dumbshits Canadians ignore why they can't get ahead, just
getting screwed from their ignorance. Big fat government milks them
like cash cows.
> Obama is trying to shut down a tax loophole — dubbed the "most
> unconscionable tax loophole" by New York Times columnist Nicholas
> Kristof — that allows ultra-rich hedge fund managers to pay tax at the
> special low capital gains rate. A battle over the loophole has raged
> in Congress for four years, and recently heated up with multi-
> billionaire Warren Buffett pointing to the measure as evidence that
> Congress has been "coddling the rich".
And Warren Buffet is in Asia shopping to buy companies there. He knows
capital gains is a tax on inflation, a wealth tax, designed to keep all
people poor.
There are two tpes of gains, numbers roll up a dollar then a dolalr
gain. But is that value? 89 cents bought a full Big Mac meal deal in
1970. If you could preserve it and sell it today you would get $8.50.
And then pay gains taxes on the difference even though the value hasn't
changed?
Now you know why business and investors are not walking, but running
from corruption America. It is, like in the fall of Roman Empire times,
cleverly hidden wealth confiscation to tax gains.
Would be like taxing people for the appreciation of their homes over time.
But greedy self serving unscrupulous politicians like to prey on the
weak minded loaded with envy and greed. G12 makes sure they don't think
more than they need to as you want compliant sheep.
> It's unclear if the loophole exists in Canada. Canada Revenue Agency
> officials denied Monday that it did.
It doesn't, we get taxed 1/2 the gain at full rates. So if the
investment gains or looses no real value, but inflation doubles it cost,
I loose 50% to taxes in value. Buy $100,000 of something, inflation
causes it to value at $200,000 but it hasn't changed in value, I am
taxed on the preservation of wealth by 50% of the gain. But a net value
loss.
Makes Canada a crap investment really. Add in union greed, expensive
place to live, HR, legal BS, insane whining and excessive taxation... no
wonder Ontario manufacturing is dead. Ontario bails out US GM and gets
more debt. China builds Yangsee damn and gets cheap power for 1/20th
the Canadian cost and you think you can compete.
Well, fleabaggers may deny reality all they want but reality always
wins. No shortage of irrationality and denial in Canada *or the US.
> But Toronto tax lawyer Jack Bernstein, writing in the tax journal Tax
> Notes International in June 2007, said that the loophole applied in
> Canada and the US, and described it as "attractive" for Canadian fund
> managers. Bernstein, who advises hedge funds, did not return calls
> Monday.
I don't hedge in a traditional way. Scamming really.
> This raises the possibility that Canadian fund managers have been
> taking advantage of the loophole but haven't yet been challenged by
> revenue officials.
Just government greed talk. No one wants to screw with the KGB, CRA and
IRS. They want to screw with you is more likely.
> The lack of controversy here is surprising, given that Canada also has
> deficit problems and, like the US, has seen a huge concentration of
> income at the very top in recent years.
What saved Canada ass was allowing the dollar to rise to parity. It
saved 40% inflation from Canada. in doing so, it didn't upset domestic
trade as much and in fact increased the activity a bit.
Inflation is vicious on jobs, people who have less purchasing power in
the infation write down of value, they will acquire less even if the GDP
goes up. Less stuff is less jobs. A jobless recovery as witnessed and
coined by others.
But everyone like government bullshit and Canadian moose shit. Hey, why
look at the obvious start truth when denial is easier?
> Canada's ultra-rich — those in the top 0.01 percent — now have a
> bigger share of national income than at any point in Canadian history,
> according to data compiled by McMaster University economist Michael
> Veall. But the median Canadian family income hasn't grown in 30 years;
> in fact, it's declined from $48,800 (in today's dollars) to $46,700.
CRA, CRTC, RIV, milk boards, customs and excise and others all conspire
to screw Canadians. "families" like monopolies and anti-competitive
practices. So does Ottawa, gets cash envelopes, favors, stock tips, and
juice campaign contributions.
If you include employment taxes on your behalf, incomes have increased.
However he employment taxes took the growth. And government skims CPP
and EI so you do get screwed. Again, the government screwing you. And
CPP returns is a pathetic investment from a 35 year plus workers
perspective. Good if you come to Canada for 6 years to get CPP paid
back to the old country. Or if government, borrow from it and pay below
inflation returns too it.
> This means ordinary Canadians have little buying power, reducing the
> incentive for business and the wealthy to invest their substantial
> cash reserves in ways that create jobs.
OECD agrees, Canadian households average net worth are amongst the
poorest in the G8.
> As growing inequality becomes a global issue, the subject is strangely
> absent from Canadian politics, including the current Ontario
> election.
Going to continue until we get rid of big fat corrupt central
governments. We need a democratic revolution that doesn't permit big
governments running the people. We need small governments run directly
by he people. I call it eDemocracy.
...
read more »
