An observation

[S.A. Boggs]

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Sam

[kj47]

Ditto !!

[Mark in Ottawa]

A timely posting. I just read a column in the Toronto Star that proposes introducing a "wealth" tax on the very rich on the basis that the income disparity in Canada has increased. The writer chose to ignore that the "rich", meaning the top 5% of earners already pay 35% of the income tax collected while the top 1% pay 18% of the income tax collected - but the resenters still want to make them pay more. Their usual line of nonsense is that the rich should pay their "fair" share which in their view means about 99% of their earnings

[Allen]

A timely posting. I just read a column in the Toronto Star that proposes introducing a "wealth" tax on the very rich on the basis that the income disparity in Canada has increased. The writer chose to ignore that the "rich", meaning the top 5% of earners already pay 35% of the income tax collected while the top 1% pay 18% of the income tax collected - but the resenters still want to make them pay more. Their usual line of nonsense is that the rich should pay their "fair" share which in their view means about 99% of their earnings

Even if everyone paid the same % the rich would pay more.

Rich people often pay others to do work for them = workers paying taxes.

Rich people often start businesses = workers paying taxes.

Rich people usually spend more = workers keeping their jobs who are paying taxes = taxes on money spent on items too.

And lets not forget property tax. Don't know about Canada but in the U.S. it's another avenue to milk people out of money.

[blackhawknj]

Remember Canada has a Socialist government at present, Socialists always think they have discovered a new set of laws.

[Art]

Nothing here (in the OP) is really new. Rome fell in large part because of the same issues. Not being able to print money they devalued it by reducing its precious metal content - where there's a will there's a way. Long and short of it by the late Republic and early Empire most of the city of Rome was "on the dole."

The current increase in precious metals prices and alternative "crypto" currencies show the nervousness about the way things are going.

Originally the United States Government existed mainly on tariffs and excise taxes. States added property taxes.

One of the reasons is people are suckers. The income tax was sold as something that would penalize only the wealthy, 3/4 of the states voted to approve it by referendum in the Constitutional Ammendment process. Just like every other scam the government comes up with that changed very, very quickly. Sort of like your Social Security benefits being non taxable.

[S.A. Boggs]

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Sam

[Tenboremag]

Where has a poor man created jobs for the other poor? Half of Americans pay no taxes, I don't know about those up in Canadia.