this post was submitted on 15 Jan 2024
1809 points (97.6% liked)
Political Memes
5613 readers
919 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes 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 misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow 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
view the rest of the comments
Omg 50% capital gains tax sounds insane. I feel like that would dissuade people from investing. "Okay you invest in this asset. It might go down, which would be bad, but if it goes up you get to keep half of that and pay me the other half!"
sounds like a great deal for doing literally zero work?
But they took the risk of becoming checks notes ... a wage worker.
Whats your definition of work then? Id actually be interested...
things that wouldn't do if you don't get paid for it
They wouldnt invest in assets if they didnt get paid for it so by your own definition, they are doing work.
(And technically if someone loved their job so much that they would do it even if they didnt get the money, then they would not be doing work and still getting paid for it)...
The capital gains exemption is that you only pay tax on 50% as income.
So if I make $100k, I pay taxes on $50k, at my marginal tax rate (max of 53% in Ontario, so the effective tax rate on capital gains is at most 26.5%). If I work 9-5 and I make $100k, I'm taxed on the whole thing.
Plus if you lose money you can apply it 3 years back to get taxes back.
Ah this makes much more sense. Thank you for the explanation