Canada's Upcoming 20% Surtax [Closed For Politics]

[Crissa]

That seems like a good reason to charge you it, Mr Moose. ^-^

-Crissa

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[CyberMoose]

That seems like a good reason to charge you it, Mr Moose. ^-^

-Crissa

I have money, therefore I should pay more for products? I already pay more than average percentage of my income in taxes. I buy quality items which cost more and then the sales tax goes to the government. If someone buys a $20,000 in ontario, they will pay roughly $2600 in tax to the government. When I buy my Cybertruck which I estimate will cost about $106,000 based on current price assumptions and my estimated price for options before the camper/cyberquad, I will pay roughly $13,780 in tax. I accept sales tax because it's something that isn't bias towards who is buying it or what someone is buying.

Canada already has a much lower limit for tax credits when buying an electric vehicle. I also don't think the tax credits in Canada or the US should have a limit since it's not even percentage based. If you buy an EV whether it's $30000 or $100000, the benefit that it has to the environment, which was the original purpose of these tax credits, are the same.

Also i'm not being biased because of my position. There were numerous tax deductibles that I have qualified for over the years, I had my student loans greatly reduced from grants after my graduation, and I even believe the reasons I got those are good for the economy. I have and always believed that people should be treated fairly and if there is going to be a tax or a credit for anything, there should be a fair and unbiased set of criteria for who it applies to with a logical reason behind the entire thing.

 

[Crissa]

I have money, therefore I should pay more for products?

https://en.m.wikipedia.org/wiki/Marginal_utility#Diminishing_marginal_utility

https://www.usingenglish.com/reference/idioms/squeeze+blood+out+of+a+turnip.html

Yes.

-Crissa

 

[alan auerbach]

https://en.m.wikipedia.org/wiki/Marginal_utility#Diminishing_marginal_utility

https://www.usingenglish.com/reference/idioms/squeeze+blood+out+of+a+turnip.html

Yes.

-Crissa

Several posters have indicated that their CT will surely list at less (or not much more) than the C$100,000 cutoff. Well, what current model do you think the CT will share a price with? (I doubt it would be the Model 3.) Here are the latest Canadian prices of existing models:

Model 3 $52-77k
Model S $114-165k
Model X $128-182k
Model Y (no info yet)

 

[CyberMoose]

https://en.m.wikipedia.org/wiki/Marginal_utility#Diminishing_marginal_utility

https://www.usingenglish.com/reference/idioms/squeeze+blood+out+of+a+turnip.html

Yes.

-Crissa

I'm not even going to read the first article because marginal utility has absolutely nothing to do with your argument. The utility (basically my satisfaction) for a purchase is no where near a point of me getting something new, of anything, becomes any less enjoyable. I'm the kind of guy that gets over excited when my wife buys me new socks. The vehicles I have aren't top of the line by any means; my first truck was $5000 that I saved up for months when I was in high school, my jeep was $3500. I only bought myself a new Car when I finished my second degree and got hired for my first decent salary. The majority of every paycheck I get goes to my mortgage, my retirement, emergency fund, and split between 4 savings accounts meant to be college funds for my future kids.

I'm not scrooge mcduck, i'm not someone with more than I need, I'm a hard worker who is working hard towards the future. I saved up for a down payment to have my dream house built for my future family and i'm saving up to switch all my vehicles to Teslas for my future family because they are extremely safe. I don't even upgrade my phone more than once every like 5 years, I don't buy a bunch of toys like dirt bikes, atvs, nice computers or game systems, or anything else because I want my money to go to meaningful things. Even my clothes are all discount brands, I don't think I own a tshirt that costs more than $5 and my dress shirts cost $15.

My best friend didn't go to school as much as me, he did 2 years of college and got a trade job. He worked for about 9 years making nearly double my pay before my last promotion. I own a big house on lots of property, he rents a basement. I own 3 vehicles in good shape, he has a truck that's nearly ready to be junked and a car he payed $1000 for last year with a check engine light on. I have lots of savings accounts, each with a decent amount of money, and investment accounts, he has a few thousand in credit card debt and enough money to get him 1-2 months if he lost his job. While he has definitely made more money in his career than I have in mine, he can't afford the Cybertruck, so he won't have to pay the additional tax. I am going to have to pay that tax because I have been smart with my money since my first paper route as a child and I will be able to get the Cybertruck through savings alone.

The amount that I have, isn't hard for someone to get if they actually save up, do safe investments like mutual funds, and shop smart for things they need instead of want. Everything that I have could be obtained in about 10 years by someone who makes average income. My wife and I didn't get married until after my house started construction, so it's not like it took two people either.

Income tax is based off how much money people make, not how much money they have. It's the smartest way to actually do it because it stops the government from just looking into someone's bank account like "oh you've been saving for 50 years to retire, but you probably don't need that much so we'll just take some"

 

[ajdelange]

I'm not scrooge mcduck, i'm not someone with more than I need, I'm a hard worker who is working hard towards the future.

You don't have to do any of that. All you have to do is vote for the politician that promises to take money from the people that did do all that and give it to you.

 

[CyberMoose]

You don't have to do any of that. All you have to do is vote for the politician that promises to take money from the people that did do all that and give it to you.

The unfortunate truth.

I came from poverty, I knew so many people in my neighborhood and at my school that had parents that didn't even work. My sister hasn't worked since she had a kid, my mom hasn't worked in like 20 years now. It really annoys me how many people I knew indirectly that didn't have a reason to not work, the system just made it easy for them. I knew people fresh out of highschool that got disability income because of anxiety. There was basically a Q&A between a few people on how to get diagnosed with it easily to get some easy money.

I made up my mind very early that at least for the majority of wealthy people, their money will be better utilized by them.

The more money they have, the more money they have invested, the more companies can expand and do research/development, the more advancements we get, the cheaper the older model products get, and as a result of all that, a better quality of life for poor people. That's not even considering the massive amount of new jobs that are created when big companies build a new factory.

Elon musk is actually a perfect example. Someone recently posted how much his worth increased vs how much he paid in taxes. It was very little in comparison, it was still a ton of money and more than probably all of us combined will see in our lifetimes, but it was nothing compared to his worth. His money has been invested in his companies. He sinks all of his money into his companies and that money along with his drive is the reason Tesla has improved so much, why SpaceX is doing more and more launches, why starlink has nearly 70000 simultaneous users, why neuralink can make cool boop noises when a pigs nose is stimulated. ...that last one doesn't make as much sense but I really loved that demonstration during the neuralink event.

Even if we took all of the money that the 1% earned in a year, which would probably be around 2 trillion, and evenly split it between all American households which is about 160 million. Everyone would get a little over $12000.

If that happened, I would bet all the money that I have that the majority of the wealthy that the money came from would put that back into some form of investment. the majority of the middle class would invest some or at least deposit a portion in their savings and then maybe buy something they've always wanted. and the majority of the lower class would probably go on a shopping spree and that money would be gone in 1-3 months.

I might sound like a dick by saying that but the majority of lottery winners are lower class. The average person who makes 13000 or less a year spend at least 5% on lottery tickets. However, so many lottery winners that win big, like an actual jackpot, go bankrupt within 5 years.

There was even a documentary about a homeless man who was given $100,000 and he later revealed that he was broke again after 6-8 months. That wasn't just some random homeless person, it was someone vetted by the producers, one out of many that they interviewed that they felt like he wasn't homeless by his own fault but because he was dealt a bad hand.

 

[CyberDingo]

Interesting study!?

https://www.greencarreports.com/new...brings-better-health-7-500-in-social-benefits

 

[Crissa]

I'm not even going to read the first article because marginal utility has absolutely nothing to do with your argument.

"TL;DR, let me explain how I don't understand marginal utility, but then put it into practice anyhow..."

C'mon, man, I posted that weeks ago, and it's a standard explanation of why there is no real economic impact to taxing higher incomes at higher rates.

Your entire 'but people are poor because they want to be' is super-toxic.

-Crissa

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