this post was submitted on 22 Jun 2023
78 points (100.0% liked)
Canada
7106 readers
298 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Regions
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown
- Toronto Blue Jays
Basketball
- List of All Teams:
unknown
- Toronto Raptors
Soccer
- List of All Teams:
unknown
- General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
🍁 Social & Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
While it's an ideological answer, it's relatively balanced compared to the extreme answers others would suggest. I think you're right, to some extent. At a mimimum it would reduce the whole "generational wealth" bits somewhat, and return things back into the common purse over time.
Between my own taxes, and the corporate taxes I paid through my small business, I feel like I've contributed my share. I don't mind paying taxes, provided the government spending isn't wasteful. After all, we are a society and rely on public infrastructure, among other things. But I've only got a small business, and there's no off-shore tax havens I'm storing cash reserves in or something ridiculous like the ultra rich. How would you deal with that? Or does your plan only work if implemented more or less universally?
To further add to what you've both said, Land Value Taxes (LVT) is probably where we should be heading. Jack those up really high, and lower or even remove income taxes on workers.
Taxing people based on the amount of land they use is a very efficient (from an economic perspective) way to balance wealth. You want a mansion in a desirable area? Go ahead, but you need to pay everyone else for taking up that much space. You want to avoid those taxes by using less space in a less desirable location and investing all your wealth in companies instead? Sounds like a win-win to me.