RE:RE:RE:RE:RE:RE:Morneau also says not good for Canada Gabriel wrote: The case is strong wouldn't you agree ?
https://www.fraserinstitute.org/article/new-capital-gains-hike-wont-work-as-claimed-but-will-harm-the-economy
A big business to start is to buy mansions and rent them for the super rich for six months a year. A lot of them will sell all their assets in Canada and rent for six months as non-residents with zero income tax. A tax payer with 1m in revenue would have 300-350k more to spend as non-residenr. A tax payer with 5m in revenue would have 1.6m more to spend. You think they will hesitate and want to weather the cold in Montreal and pay that kind. Surely not. The middle class will have to deal with the debt.
Thank you for the link. I will probably disappoint you but it is hardly a case, let alone a strong one. Among the the half-dozen sources cited I found only one to be useful, and it was the piece by David Williams of the BC Business Council. All the rest were published in the FI Journal i.e. internal Fraser hacks. As you might have guessed I have little use for Fraser, which is essentially a propaganda business posing as a research institute and think tank. Their website blurb states:
"We rely entirely on voluntary donations from individuals, foundations, and other organizations..."
without elaborating further. If you dig deeper, in other sources, you'll find that the bulk comes from large, foreign, corporate donors or foundations. Koch, Lambe, Exxon, Searle etc etc. At one time Fraser was shilling for the tobacco industry, for crying out loud.
FI founder, Mike Walker was a big fan of the late Milton Friedman, of trickledownomics fame. The two partnered in a "freedom" foundation that went around the globe founding other "freedom" clubs.
Lower taxes, smaller governments, free markets are the hackneyed slogans of the right. More often than not, they amount to little more than freedom for the rich to get richer, at the public teat.
If we wish to think outside the box, perhaps we should break out of the Fraser eco bubble.
Cheers.
BTW, good luck with your real estate venture renting mansions to billionaires for six months in Canada so they could escape to Maralago or such, for the rest of the year.