Quote:
Originally Posted by VladtheImpaler
You said these were loopholes only available to the rich because they are the only ones who can afford to take advantage of them.
|
No, that's not what I said.
I stated that wealthy people are
more likely to take advantage of the specific tax incentives I mentioned (tuition credits, RRSP deductions, home renovation tax credit) because after their basic needs are met, they have a greater amount of remaining funds to spend on education, retirement savings, and home remodelling compared to lower income people. They're also more likely to employ personal accountants who know how to take advantage of other programs to reduce their tax bill.
Do you dispute this?
[Edit]
The exact text of my earlier post, for reference:
Quote:
|
It goes without saying that someone who is already wealthy is in a better position to send their kids to university, maximize their RRSP contributions, and renovate their home compared to someone living paycheque-to-paycheque who struggles to pay their rent and feed their family. So in effect, while the government has provided economic incentives that I'm sure most people agree are valuable (higher education, retirement savings, economic stimulus, etc.), they amount to tax "loopholes" that primarily benefit the wealthy.
|