Quote:
Originally Posted by Winsor_Pilates
They are people with average incomes, the gain is not average.
You're smart enough to know the difference.
The original post is talking about "annual income earners over $250,000"; these people aren't that.
A lot of people in markets like Vancouver or Toronto fall into this, as it's not hard to have $250,000+ gains if you've held a property for 10+ years.
The market have escalated substantially enough to make those average people, abnormally large gains.
If you think that makes them very fortunate and they should be subject to the increased tax as the new wealthy, I guess that's a fair position.
But why pretend the tax isn't targeting these people? Why pretend people with AVERAGE INCOMES aren't part of this tax target?
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Because people with AVERAGE INCOMES along with VACATION/INVESTMENT PROPERTIES are WEALTHY