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Originally Posted by Mathgod
Sure, ignore pretty much everything I said and trot out a bunch of right wing talking points.
Did you miss the part where the world's billionaires got $5.5 TRILLION richer during the pandemic? That's enough to cover off the ENTIRE 2020 (and part of 2021) budget deficits for the US and Canada combined.
Most of all, what you two don't seem to be getting is that most workers are essentially paying a tax every day, in the form of underpaid labour. The worker must work or starve, and therefore will accept arrangements that they would not otherwise accept in a non coercive environment. The taxes that the rich are being asked to pay, are a drop in the bucket compared to all the wealth they extracted from workers who had no other choice but to comply.
But yeah, let's ignore all that. When government prints money to pay for services that struggling families desperately need, or to pay for badly needed infrastructure, let's pretend that the deficits are the fault of everyday people, and not the fault of multimillionaires & billionaires who find creative ways of dancing around the tax laws while not technically breaking them. And let's definitely get all our answers from our obviously not biased textbooks that are obviously not designed to get people to think a particular way about things.
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What problem are you trying to solve?
It seems your are equating government budget deficits with wealth inequality. I don’t think that the math works in Canada even ignoring the wealth flight affect.
The top .1% have an income of 1.6-2million so that’s about 25000 people maybe 30,000. So that’s about 60 billion in income. And in terms of funding programs income rather than wealth is what we need to tax. That’s really not enough to do anything with. Even looking at their wealth and taxing a portion of the 4% SWR you still aren’t moving the needle. The answer to the problem you seem to have is to tax wage earning employees at historic rates in order to offer historic levels of service.
How do you propose to tax and is it sustainable even assuming there is no capital flight?
Now if we want to look at wealth inequality that’s a different discussion but it’s idenoendant of funding government.