undercrust @ undercrust @lemmy.ca

Posts

2

Comments

334

Joined

2 yr. ago

Texting on a WiFi iPod, amazing

"Billionaire Nepo Baby Sitting on Massive Unrealized Capital Gain Windfall Upset He Will Pay Fair Taxes"

There, I fixed it for you.

End the capital-gains exemption for principal residences. It’s even more untouchable than OAS. It’s also more economically harmful and inequitable.

It pumps up housing prices and pushes more and more national wealth into housing. It’s dumb economics, plus the tax break only goes to the two-thirds of families who own a home. And the richer you are, and the more home you own, the bigger the tax break. It adds up to a hyper-regressive policy to make Canada less productive.

Eh, I'm going to punt this one because it's an asset that most people want to own, but housing is a necessity as well.*

I'm going to counter with:

• no non-human ownership of single family homes, no trusts, no corps, no foundations, etc.
• no interest cost deductions against rental income for landlords
• 50% of rental payments can be deducted against income for renters

That way one perk of personal, principal home ownership is still there, but at the same time fucking landlords can piss right off, and renters get a major tax-reducing benefit to boost net income for what are usually lower income earners too.

As policy it's incomplete, but I think as ideas it at least will level the playing field a little bit.

*Edit: Okay how about this: a lifetime principal residence capital gains exemption of...I dunno, $500k? Just thinking about the regressive comment where wealthier folks own bigger and more expensive homes, and this would target those hogs and leave the vast majority of normal Canadians untouched. And maybe incentivize people to not own a goddamn ugly-ass cookie-cutter McMansion, leading to a teensy bit more densification. Or at least leave more greenspace on a standard lot.

It's a start. Its a modest increase in capital gains inclusion (66% instead of 50%) for all capital gains over $250,000 per year

So, good, normal people won't be affected at all, but only super wealthy folks triggering a quarter million in gains every single year are going to feel any effect. And unfortunately, there's more than a few ways to just avoid triggering gains anyways.

Eh, at least it's a start.

Sounds like a pretty big win to me? Who answers emails after hours, yuck

More absolutely shit, unnecessarily argumentative policy from an absolutely shit, unnecessarily argumentative asshole of a premier.

LMFAO, easy answer - because those countries are demonstrably better than the shit hole that is the United States.

God this fuckin turd just doesn't shut up and the rest of us are forced to hear about it. Enough already.

Better hike up your bootstraps, fuckos. This is what corporate bankruptcy processes are for.

I think people are getting angry because they don't see your sarcastic "cOuLd NoT FiNd aNy CrImEs" clearly enough

Did we all forget about this literal golden idol that Republicans had been worshipping at CPAC?

See: improvements in Alaska (of all places) for details

The problem is it didn't happen suddenly 😭

This is our chance to make this person's dreams come alive by downvoting them into oblivion!

I mean, we should do that too, yeah

Hasn't been a good castrati in Opera for fucking years smh

That's because every day is torture in this late stage capitalist hellscape

That's clearly a daikon

Ding ding ding

I hope this fuckin turd goes broke. Conservatives need to get a hobby that isn't just harassing other people. What a loser.

Obligatory of course it's the Christo-facists at Take Back Alberta.

Both water and humans agree, -40° is very cold