When a society accepts the premise that those with wealth deserve to have it strip mined, nothing is off limits.
Governments’ extraction of value from our homes has accelerated in recent years as they have became more desperate, both to raise revenue and to find scapegoats to deflect blame for their own starring role Canada’s housing shortage. As the byzantine extractions multiplied, our homes, once considered our main assets, have morphed for many into our main liabilities. Once upon a time, “safe as houses” was a no-brainer investment strategy. Anyone who now sees a house as a safe investment needs his head examined.
Counterpoint: Solomon is as usual wrong and disingenuous. Home ownership has long been overrated as a wealth-building strategy and it only go so far because of special treatment in the tax code. Taxing capital is bad but if we’re going to do it there is no good reason to exempt housing. It’s immoral and bad economics.
https://financialpost.com/opinion/tax-housing-more-level-investment-playing-field
Ridiculous comment. In fact, taxation on the value of homes is nothing more than slow motion Marxism. I really got a kick out of your stupid comment and “home ownership has long been overrated as a wealth building strategy”…..except you haven’t factored in the concept of not having to pay some scuz bag for rent for your entire life and end up with nothing. Shove your “counterpoint” well and truly up your ass.
Taxing the gain in value of a principal residence is little more than a tax on inflationary gain….that is, inflation that has been CAUSED by government.
What IS immoral is parasites who believe somehow they are entitled to a portion of what a homeowner has worked for and has foregone immediate wants (as opposed to needs)
Golf clap
+++1 Art
The resident troll probably also rents its residence from the government. If it were not for coveting, the Left would have no control of anybody.
no doubt Unme is on some sort of government dole. like Jack Layton was for his lifetime
” you haven’t factored in the concept of not having to pay some scuz bag for rent for your entire life and end up with nothing”
I really have though. Your home is a lousy savings vehicle. You have to pay property tax, maintenance, insurance, the part of the interest payment that banks keep, and can’t take it with you. It might make sense for many people but for many others paying rent and investing the difference is way better. Also, you don’t know what Marxism is or capital gains work.
Hahaha ha ha ha … what an utter dolt. As if renters don’t pay: property taxes, maintenance, insurance, interest … and every other cost of property ownership. Yes, communists are economic illiterates.
Renters indeed don’t pay the vast majority of property tax or the other charges. They pay what supply and demand dictate.
“Also, you don’t know what Marxism is or capital gains work.”
Is that supposed to actually mean something?
As usual, you have NO clue what you are talking about. Thanks for confirming that fact, once again!
strip mined? look whats going on in wainfleet:
https://www.youtube.com/watch?v=eYzIwv1ZMZ0
$10,000 fine for merely *advertising* a rental.
is this anywhere else in MSM?
isnt this confined to suthun state towns run by Boss Hogg?
l bought my place >2 decades ago and proceeded to now when l have accelerated things prior to listing, spend 10s thousands dollars and hours turning it into an instant sale.
why the FCUK do liberals think they are entitled to a smidgen of the gain in value all accomplished by me? THATS MY RETIREMENT FUND ASSWIPES
That’s why the Lieberals love MAiD. Your retirement is over as soon as your nursing home runs through what they didn’t tax out of you.
Not really kidding. You think they’re going to feed you after they already took everything?
And what’s WORSE!? They’ve CHANGED THE RULES OF THE GAME from the time you started building your wealth. You understood the gains would be YOURS … minus a “fair share” for the public coffers. But now, the government is grabbing your wealth with both hands. It’s anything BUT “fair”.
And at the core of this? The Communist LGBTQueers HATE intergenerational wealth … because they’ve told their own families to fkcu-off and have been written out of the will … so they insist NOBODY else should be able to inherit the wealth within HEALTHY families. Healthy families are a “privilege” they simply cannot abide.
I’m pretty sure I know at least a million people who’ll snap if the government tries to take their home equity.
If the government wants a revolution, this will bring one about.
Canadians revolting? Now that is funny.
Wanna bet?
they already have legislation to tax and imputed rent .
I can’t imagine why anyone would “invest in Canada” knowing that there are 100’s of other jurisdictions which are less likely to screw you over.
Canada wants to punish you, and the overseers hate you and everything you stand for, yet you stay.
Comfortable today, thinking you’re just a little fish and they’ll never come down hard on you tomorrow.
They can’t stand that people think they have the freedom to gather together peacefully, to free speech, or maintain their belief in owning privately held property.
The walls are closing in, jump frog … jump!
I hate this country.
I hate the Progressives in this country!
Unless corrective action is taken, in the very near future, Canadian homeowners will be considered the new kulaks and declared oppressors of the proletariat and have their properties seized by the state. Think that’s far-fetched? Nowhere in the Constitution and Charter do the words private ownership of property appear. The two prime pieces of law in the nation offer no protection against the State. It’s exactly what the Elder Turd intended when he cursed us with those two abominations.
What has Pee-Pee said about turdo’s latest capital gains grab?
Anything?
Well, Jamie, IF PP does bother to say anything, it better be more than some little schoolyard comment, like “he’s a whacko” or “justinflation” etc.
Time for some adult behaviour and demonstrable integrity.
So far, I don’t see PP as anything to inspire confidence and belief that he will turn this Titanic around.
I think right now what is saving us, is the fact that we live immediately north of a constitutional republic that has lower taxes across the board. Of course we have some states that are trying to turn into Canada, or even worse, Northern Europe, but so far they have failed in their attempts to destroy what they have.
As for Canada, the whole idea that all of sudden principal residences should have capital gains taxes is ludicrous. The idea that increased taxation will suddenly skyrocket the supply of houses is right out of Lenin and Stalin’s genius ideas. As others have mentioned, the capital gain such as it is, is mostly inflation so in fact depending where you live the nominal gain may be huge but the real gain may be very small. Of course economic wizards like the present federal nitwits are focused only on the nominal.
That being said, the present government have shown themselves to be incompetent to a new degree, surpassing the Liberals of the 90’s who at least had Paul Martin, and who only took “come hell or high water” action when it became apparent that Canadian bonds might join Argentinian bonds. I hope sanity prevails and that the clown prince of socks and his retinue understand that you can beat the common tax payer only so much. More importantly those with capital, which this country desperately needs, will redeploy elsewhere.
” the capital gain such as it is, is mostly inflation”
No it isn’t, especially if upzoning leads to a huge gain for selling your property so that an apartment can be built there instead.
At no point have you come close to demonstrating that principal residence should be treated any differently than any other capital. It’s just more stamping of feet by a sector of the populace demanding special treatment.
At no point have you demonstrated that you know of which you speak. But keep trying UnMe whoever or whatever you are other than a source of amusement and wonder.
RTFA that I linked to above.
So I usually don’t waste time on trolls, or those who appear really stupid, or perhaps those who have practiced idiocy to the point of being superstar idiots, but maybe you are only a precocious 10 year old and so I don’t want to be mean.
And, since you politely told me to RTFA – good news! I read it immediately earlier today and it was essentially useless. Sure the author wants to grant everyone their nominal gains up until say right now and then wants to make everything beyond that taxable. None of that will fix anything in making affordable housing suddenly appear to sprout up out of the ground.
In fact the author is saying that housing isn’t really a good investment, which most of us know, and also cuts against the argument of unfair gains. The authors idea of removing capital via taxation is the last thing you want when dealing with capital intensive projects like housing. Heavy taxation is the reason many of my most successful friends have moved to other countries. Canada was once a very good country and we should strive to keep people and capital.
I am becoming evermore convinced that the declines in living standards and quality of life in Canada are being engineered to produce the conditions that Marx, Lenin etc., deemed necessary as preludes to a commie revolution.
This is just the latest example of their communist playbook tactics.
JustinStalin a post national gulag, yo.
I’m entertaining that idea as well.
Howard Eldred Kershner (1891-1990), American economist, businessman and author:
“When a self-governing people confer upon their government the power to take from some and give to others, the process will not stop until the last bone of the last taxpayer is picked bare.”
We accepted the premise over a hundred years ago. The government has been convincing us that they can spend our money more wisely than we can forever. And we have quietly accepted that false premise. We deserve to have every bit of our wealth taken from us for letting it get this far.
We are stupid slaves to stupid managers.
Politicians are the greediest people in the country. It never occurs to them to cut spending, stop wasting money and stop stealing money. No, it’s always saying we need to pay more to be “fair”. It’s a bullshit arrangement.
What’s really needed is a cap on total taxes paid. No more than 25% of gross income should go to combined federal, provincial and municipal taxes (including capital gains). If your combined taxload exceeds 25% then the amount over that percentage gets rebated when you complete your tax returns. Having a flat tax would make this simpler.
Governments would need to learn to budget accordingly.
A modest proposal: strip the government to AT MOST a tenth of its current size and rapacity, and starve out the whiny smarmy privileged welfare b1tches like our troll.