Quote:
Originally Posted by theman23
Jagmeet is proposing a wealth tax. (To raise $94B over 4yrs)
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Is this 1-3% tax every year? Or one-time?
Recurring = bad. One-time Intervention = some merit.
Canada is in a fiscally desperate situation at $1.3T of debt and $60B deficit. But we have ~$15T of sovereign wealth. A one-time sovereign wealth tax of 10% would raise $1.5T instantly. This would be enough to:
-Wipe the $1.1T debt completely (and their $45B/yr interest payments).
-Fund $200B for military expansion.
-Fund $150B of corridors.
-Fund $50B sovereign wealth fund.
But an intervention this radical would also need to be accompanied by ~$60B of annual spending cuts and an extremely strict "budget surplus law". Barring deficits, forever. Like requiring a referendum with 80% support to ever run a deficit again. This plan would truly fix Canada's problems for good, but no politician has the stones to propose something this bold.
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