Quote:
Originally Posted by WarrenC12
1. That's been a trend since the dawn of taxation.
2. The public at large was demanding something be done about real estate, foreign ownership, etc. The income tax system (main source of government revenue) is nation-based. The flow of capital around the world, undeclared and untaxed, is forcing governments to adjust. How fair is it that people living in multi-million dollar mansions here aren't paying a dime of income tax because their declared income is so low? Consequently they are eligible for a number of low income benefits and subsidies.
3. Taxes on income don't make as much sense as consumption taxes. We should have had the HST. I support the carbon tax, and luxury taxes on houses, cars, etc. All should be used to reduce the rate of income taxes.
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It’s not that I disagree but points I would make are:
2. What about people who bought there homes and have lived there 20 years and are on a set income. Should people be punished because there house went up in value?
2. What about people who are only living in a small part of the house and have 3+ rental units in the house. Should they be punished instead of people who opted to own 3 rental apartments and live in one apartment?
2. What about those whose income tax is high?
2. Shouldn’t housing taxes be based on the services provided to households? When did property taxes shift from being used to maintain the neighborhoods to being used as a source of income for social programs?
2. Don’t you feel it’s deceptive and petty when our government calls a tax with a name that doesn’t reflect its actual use to make it politically acceptable. The school tax doesn’t go to schools. The speculation tax doesn’t target speculators. If the government truly supports these taxes why not call them what they are: a luxury home tax and a second/empty home tax. Calling something different than what it is to trick people gives me a bad taste in my mouth.
3. What stops people from making money here but spending it somewhere else? Too many taxes and people will be buying things in Alberta/America. People spending money elsewhere hurts our economy. As much as people hate it foreign investment has greatly benefited our economy.