I’ve long said that I’m open to hearing about any alternative political system, as long as it doesn’t diminish the incentive to work hard. The moment I sense it does this, I’m out, because it’s doomed to failure.
The B.C. NDP Party has clearly never learned this simple lesson. The founder of Lululemon, Chip Wilson, recently wrote an op-ed about this:
The NDP’s hidden “wealth” taxes are so burdensome that these people, ready to risk again, don’t. The short-term tax on the successful kills the incentive for middle-class entrepreneurs in B.C.
If a flat tax for all were implemented, of the 30 failed entrepreneurs who are given the incentive to try again, five would succeed, creating businesses, employing thousands, and forming a strong tax base.
The NDP will, of course, find an academic — who has never run a business — to refute this.