this post was submitted on 15 Jan 2024
1809 points (97.6% liked)

Political Memes

5611 readers
888 users here now

Welcome to politcal memes!

These are our rules:

Be civilJokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.

No misinformationDon’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.

Posts should be memesRandom pictures do not qualify as memes. Relevance to politics is required.

No bots, spam or self-promotionFollow instance rules, ask for your bot to be allowed on this community.

founded 2 years ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] Blackmist@lemmy.world 69 points 11 months ago (3 children)

Yeah, it's a wealth tax we need. 10% a year of everything over $100 million. Yeah, bitch, I'm including all your motherfucking shares and property as well.

[–] EmergMemeHologram@startrek.website 18 points 11 months ago* (last edited 11 months ago) (3 children)

I think you need to be careful with a wealth tax because it will just make millionaires "move" to the US but still do business here. Under NAFTA they can live in the US and only pay US taxes while working here, except for services where GST must be charged.

It'll also really fuck up the TSX because the TSX does not see 10% gains, so we would lose a lot of capital for our business and reduced value of our pension funds.

Not saying no wealth tax, but wealth tax is complicated and the amounts need to be well considered for their impact to the economy.

Edit: forgot I wasn't on the Canada instance.

This applies to Canada doing wealth tax specifically, if everyone coordinated and closed loopholes wealth tax could be realistic, it's a cooperation game.

[–] cashews_best_nut@lemmy.world 29 points 11 months ago (3 children)

Two counterpoints:

Norway implemented a wealth tax and millionaires didn't move. It still has one of the highest rates of millionaires in Europe.

France implemented a wealth tax and millionaires moved causing them to make less than if they hadn't implemented it. They repealed said tax after 2 years.

Wealth taxes can work if done right. Done wrong and they do leave.

[–] EmergMemeHologram@startrek.website 5 points 11 months ago

For Canada specifically I could see the situation being like France because we have NAFTA -- I'm assuming France can't simply do this because a millionaire could move to Luxembourg or the Netherlands and still be in the EU.

[–] Bfcht@lemmy.wtf 1 points 11 months ago

Not sure about France wealth tax specifically, but the EU has always had a huge problem with taxes being uneven, especially stuff like corporate tax, with smaller countries "stealing" companies from the bigger ones.

This year a minimum of 15% eu-wide was introduced to stop the tax race to the bottom, something similar could and should be applied to a wealth tax.

[–] Kalkaline@lemmy.zip 4 points 11 months ago (1 children)

Fine, let some other country have their population exploited for labor, put an import tax on their products, we'll survive just fine.

[–] Mango@lemmy.world 2 points 11 months ago

Right?? Let the leeches leave! Capital means fuck all when it's all only for them.

[–] cashews_best_nut@lemmy.world 0 points 11 months ago (1 children)

Edit: forgot I wasn’t on the Canada instance.

Fucking CanadaDefaultism. I expected better from you guys. You truly are just Americans with moosephilia. How aboot you kick yourself up the ass buddy, eh?

[–] EmergMemeHologram@startrek.website 8 points 11 months ago (1 children)

My most sincere apologies! Our government has deemed I shall be set adrift on an ice floe, with only a Tim Hortons duchie, a double double, and a hockey stick as punishment.

[–] Aux@lemmy.world 18 points 11 months ago (2 children)

No, we need to tax the poor to the death and all the problems will disappear over time.

[–] force@lemmy.world 8 points 11 months ago* (last edited 11 months ago)

ah, so the texan solution, i see

[–] UnderpantsWeevil@lemmy.world 4 points 11 months ago

Doing consumption taxation, so Only Save No Spend.

Then creating huge loop holes for consumption that only the upper class can access, so we put downward pressure on the value of labor relative to the value of amassed commodities and capital.