Chinese Investors Driving Up Metro Housing Prices

[Vin]

Originally Posted by cornholio

Of course I am not happy because these people DON'T start businesses here, and they don't pay the taxes they should, what is saddest of all is that it looks as if they are actual net drains on our country. Few posts up I posted a study from 2010 that back this up with a less than perfect survey/study, one can only assume that in reality the numbers are much worse. Why do you think Richmond has one of the lowest reported incomes in Canada? [[[Vulgar / Racist remarks removed by moderator]]] These people have no loyalty to Canada, corruption, tax evasion is second nature to them, they don't invest in Canada, they just use it. These are not the people you build a country from. Bring me in a few boatloads of poor Chinese miners any day of the week, those people at least contribute.

But don't worry, this is not sustainable, eventually we will pay for these policies, and to a extent we already are. These are a few special interest groups that benefit from these policies, but overall the citizens of Canada are getting fucked and when reality comes back knocking they will all get screwed even more.

Anyways like I have been saying for years, the CRA needs to get its shit together and tax all these peoples offshore income to to the max, and fine people who try to evade paying taxes to the max. Also the investor immigrant program should be completely scrapped and immigrants with a certain net worth should be forced to pay a entry tax based on their total net worth, what a fair amount would be I don't know. Oh and of course like I said these people are technically Canadian when they come in and buy a couple houses with cash, so yeah they're not really foreigners, or when they continue to make offshore tax free income and years later buy a few more homes for their kids with cash, their still technically Canadian. Like I said the whole are foreigners buying up our real estate question is just side stepping the real issue.

Not everyone feels 'screwed over' like you do. Tell that to the many west siders who sold their investments with huge profits, allowing them to retire with ease. Many benefit from those policies too. Name a developer who only builds subsidized housing for the 'down and out'. Name any retailer or restaranteur who goes bust from a higher spending power. Fact is, change those policies if you can, but don't assume that everyone doesn't benefit from them. If the government doesn't rope them in, another country will benefit from their cash. It's happening around the world. The government has just changed some of the policies to make these immigrants stay longer or impose other more stringent conditions before they can get their status. I do agree that more needs to be done to tax offshore tax evaders. And that also includes many well-heeled Canadians with a long history in this country. However, don't just pin on those rich Chinese immigrants by blaming all Vancouver's problems on them. It reeks of discrimmination.

A new 'head tax' for the modern times perhaps?