November 10, 2015

Trudeau tax plan: Some couples could pay over $10 million in taxes over their lifetime

Sid CamusRebel Blogger
 

We’re now living in Trudeau’s bold new Canada, a Canada in which the policies that made this country great under the Stephen Harper years will be abolished.

One of the most shocking ways this will manifest is under the Trudeau tax plan, where the rich will essentially be punished like never before.

Last week, an eye-opening article appeared in the Financial Post, which projected what a Canadian couple could end up paying over their lifetime when Justin gets his go-after-the-rich way.

The analysis looked at two hypothetical couples: one that made $400,000 a year and one that made $100,000 a year.

It assumed that both couples would die at age 90, have mortgages, and enjoy steady employment.

Then, it factored in some of Justin’s threatened tax changes, such as his promise to roll back TFSA contribution limits and impose the new, high-income tax bracket.

Guess what the projection determined?

The “wealthy” couple (is $400,000 really rich in insanely expensive Canadian cities like Vancouver and Toronto...?) gets dinged with a lifetime tax bill of at least $10 million!

That’s outrageous because it’s anything but fair or just, and it’s disastrous when it comes to economic planning because:

* The rich create the jobs by starting businesses and employing people

* The rich spend more than the middle or lower-middle class

* The rich pay more than the middle class to keep public and social services running through their higher taxes

The more Justin punishes the rich, the fewer jobs there will be, the weaker consumer spending will be, and the fewer rich people there will be who can be taxed to pay for more public and social services.

What we have here is another Liberal economic experiment that will end with less prosperity for all Canadians.




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Comments
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commented 2015-11-13 11:06:28 -0500
Treason! Indebted to foreign banks, 10 pillars of communism alive and well! Education not indoctrination!
commented 2015-11-11 20:11:44 -0500
Well at least I can be glad that I’m not rich now or will be in the next four years at least nor planning to start a business in the next four years.
commented 2015-11-11 18:38:02 -0500
And those dumbed down enough to vote Liberal will soon find out their 1.5% decrease in income tax will be long gone eaten up by Trudeau’s carbon tax and other Liberal “new revenue streams” Suckers. Looks good on them. I love it.
commented 2015-11-11 17:08:54 -0500
I agree with Deborah. Lieberals will go after the middle class to fund their schemes and make themselves self entitled millionaires!
commented 2015-11-11 13:30:04 -0500
Hollande, the dimwit Socialist in France, is the model for the Trudough plan . . . the rich left France in such numbers that tax revenue dropped significantly. Like the USA . . . Canada may never recover from the insanity of the Left . . . and the thing that keeps me laughing . . . is the fools that voted for this Lightweight are going to get the BILL ! ! !
commented 2015-11-10 19:21:40 -0500
In the US money and people have been fleeing the country for years now, and that has already stated here. Like the head of Canadian oil producers said, just try and tax what doesn’t exist.
commented 2015-11-10 15:54:02 -0500
It was never about the rich, the goal is to kill the middle class. You know the ones paying the taxes, so that the Liberals can help themselves to it, in order to pay off the Liberal worms in the wings, and to stuff their pockets with. They couldn’t very well fool the people, if they said they were going to attack the middleclass, but that is exactly what their plan is.
commented 2015-11-10 15:39:27 -0500
If Trudeau thinks that the rich will be his new cash cow is laughable cause they will just either move their money somewhere else or just move. He will never touch the ultra rich because they are the ones who brought him into power, and the ones who will capitalize on his green restructuring. In the end it will be up to the working poor that will keep paying.
commented 2015-11-10 13:58:35 -0500
The rich is one topic. And indeed, in the US at least, the top 10% consumer 50% of all consumable good sales. But I am starting to get tired of defending a group that doesn’t seem interested in defending themselves, and in some cases living high on the hog off of the Liberals. If they really are scared of the Trudeau Liberals why didn’t they spend some of their money on third party efforts to stop the Liberals from winning the election. In fact why do the majority of Ontario’s wealthy continue to pull the lever for the Liberals? The left has a massive share of left leaning policy and research groups. Why don’t Canada’s rich do more to create alternatives? In fact why are they so silent over major freedom issues such as the activities of the human rights commissions?

For now I will worry about my declining and increasingly poorer class, the middle class. I’m worried what the budget will contain or remove for and from us.
commented 2015-11-10 12:38:41 -0500
This is what the idiots voted for. This dimwit will be sure to kill off the real Canada. He’s so stupid, he’s see through!