Quote:
Originally Posted by Chadillaccc
Has anyone pulled the "this is racist" — cop-out yet?
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Hope not because it has nothing to do with race, it has to do with 3rd world/developing economies, globalization and our immigration system. Wealthy Russians, Brazilians, Mexicans, Kenyans, Egyptians, Chinese, Malaysian, etc. are all equal when we talk about wealthy people coming here only to get a residency card, western services and I am sure to often speculate on our markets in the same ways they learned to speculate on the markets in their rapidly developing home countries, and probably many became wealthy because of that very rampant speculation if not because of corruption or actual success. Nothing to do with race. Just audit new immigrants and if they are wealthy enough tax them on all their capital assets, everything. They can stay where they are if they don't like it. If they hide stuff, strip them of their residency permit or citizenship and confiscate their Canadian assets. Also find and tax offshore income, keep track of offshore capital gains, etc. Not racist one bit.
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