RE: lIBERALS MATERPLANguy,
you should have started the whole thing with your givens:
1. JMC has, is, and always will pay for the lion's share of social projects, etc. The tax system was designed by the rich and for the rich not to pay taxes.
What does average JMC have that would have given him 500,000 K lifetime exemption on capital gains? Who could legitimately take advantage of that except for those with lots of money? The system has been, and always will screw the middle class.
The lower class will always get handouts and those that can set up the trusts and other means of getting around taxes always will.
So there is my premise. BTW I have moved out of the JMC and are grabbing onto the upper part, but I still think the system is unfair! Perhaps a flat tax is what is required and stop the scamming of the system with write-offs for things like $100,000 cars, entertainment and the likes.
Just my 2 cents worth - sorry, given the state of our Loonie, maybe thats closer to 1 cent real money.