Quote:
Originally Posted by Slava
The reason that the estate tax is controversial is because (as you've already been told in this thread, but for some reason ignore), estates are taxed in Canada. There are ways to defer the tax, and things like that, but these assets are already subject to tax as it stands.
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As I've explained, the thing you're talking about (CGT) is not estate tax.
Quote:
Originally Posted by Jason14h
And does that really matter? Does Bezos being worth 100 billion or 120 billion have any effect on anyone other then paper net worth?
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This is probably the biggest misconception in this entire thread and probably in our entire society. The "rich being rich doesn't affect you" mindset. Reality is, the rich being rich as they are DOES take money out of everyone else's pocket, in the form of inflation. Their massive wealth cycles through the economy, meaning there's more money chasing around goods & services than their otherwise would be. Taxation is how you take some of that money out of the economy and fight inflation.