Sure they will…I’m sure that these asshole would be just as willing as me to move to Argentina to escape a minor increase in taxes. Fuck off chorus of Canadian businesses, you ain’t doing shit just like your asshole counter parts in America and Europe outside of bribing conservatives harder.
I remember when Europe taxed companies even more! The whole place died!! No Business! No Europeans! Nothing existed! Business ceased to exist!! it was horrible!!!.. Or was it business as usual…?..
As far as I understand it the US capital gains inclusion rate is already quite a bit lower than the current Canadian rate. I don’t buy that this small increase is tipping the scales for those already choosing to invest in Canada over the US.
I’m not that knowledgeable about finance and economics, but I feel like the flight thing is overblown. If it’s a company based in Canada making profits outside of Canada, bringing those profits back and deciding to leave then that would be a loss. If it’s a company based in Canada and making profits in Canada and they decide to leave, either we can still tax a cut of their business before it leaves the country or some Canadian alternative can fill the gap. Of course this all assumes there’s somewhere else to go that’s more favourable, and I don’t see a 16% increase in the inclusion rate tipping that scale for a large portion of businesses.
Maybe we should reconsider the environment we provide that would both make that increase significant enough to have a business leave for somewhere else, and also that it’s cheap enough to modify operations that way. Are all the staff going to come too, or is this just some Hollywood accounting that offshores assets with no real change in operations.
Thinking more about this: the gap between the rich and the poor is the highest it’s been since 1920, and it’s increasing every day, and the investor class as done very, very well with no end to the party in sight.
And they somehow think they don’t haveenough yet? That they’re entitled to even more? That even a small impediment on the path to oligarchy is unacceptable?
Rich guy stays, keeps his money while we give him more and government pays him and he tries to pay as little or no tax at all. We lose.
Rich guy leaves and we don’t get the benefit of having him around. We lose.
Screw em … I rather take my chances of not having them around. At least then someone more motivated to do meaningful work in the country would have a chance.
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