Quote:
Originally Posted by MonctonRad
What about asserts that have not been assessed?
I have a stamp collection from when I was a teenager. I haven’t looked at it in decades, but, there may be some valuable stamps in there ( assets do accrue with age). Does a wealth tax mean I would be forced to have it assessed? It’s a large collection with several thousand stamps. Assessing it would be time consuming and expensive. Is this fair?
What about the old sofa and TV in your basement where you watch hockey games with your friends? Are they taxable assets too?
Wealth taxes are messy.
When is an asset a taxable asset?
What if you don’t know you have a taxable asset?
Is you don’t know, and don’t declare, does this make you a tax cheat?
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The complexity you point out is exactly why I say there's no point taking wealth. We can, however, do a better job taxing income from assets. Your stamp collection is less of a concern than somebody else's rental property.
Quote:
Originally Posted by bodaggin
I have 20yrs in macro finance, business and tech. And one of the best forecasting track records on the web. Thanks though.
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Lol. Bragging about posting on the internet. Seriously?
Quote:
Originally Posted by theman23
Huh? The NDP release their costed platform and are promising smaller deficits than the LPC.
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Missed this. Thank you.
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