I have long since preached a very high death-tax and estate tax. A reduction of income taxes during life and a hefty death-tax on individual and setup trusts at death. For that matter I would even be for going after large inter vivos trusts.

Unfortunately it gets very complex, and at the higher ends of wealth most would just offshore everything in other countries at the risk of a high death and trust tax. You will always have the brighter minds working against taxation than for it. The second CRA releases new rules or changes to the Income Tax Act, there's instantly an army of CA's and Tax Lawyers looking to circumvent it. It does not even get to the point where its passed through the house of commons into law and its already been circumvented since proposals are first presented in a bill before it can be passed so you have people working on getting around it well before it becomes a bill that's passed through the House.

This post was edited by SBD on Apr 4 2025 10:19am

To be clear, the investment income can often be based on income that was already taxed, why should it not be lower?

I buy a rental property, rent it out and the govt comes asking for their cut

This post was edited by duffman316 on Apr 4 2025 11:00am

My understanding is the first capital gains tax bracket doesn't add towards the tax duty in the Calendar year. In comparison, pre taxed 401k withdrawals do. Why should retirement income already taxed add to the tax duty in said year and capital gains not.

Obviously this is a niche strategy. My family runs rentals too, they've barely pay tax (percent relative) after all things added up.

This post was edited by RedFromWinter on Apr 4 2025 11:09am

This is the dude you're all obsessed with. This is it. This is what he is. Yikes.





This post was edited by Pyrotechx on Apr 7 2025 12:25pm

I remember this. Christ.

Come on, this is unfair... Trump was a national embarrassment before this.

"The Hindustan Times"

He's finished

https://www.palmbeachpost.com/story/news/trump/2025/04/28/trump-pardons-wealthy-tax-cheat-paul-walczak-with-ties-to-ashley-biden-diary-scandal-betsy-fago/83323718007/

-Paul Walczak, convicted of evading more than $10.9 million in payroll taxes, was pardoned by President Trump shortly after being sentenced to 18 months in prison.-
-Walczak, son of prominent Republican donor Betsy Fago, used the funds for lavish personal expenses, including a $2 million yacht.
-Despite repaying the stolen taxes with assistance from his family, the judge emphasized that wealth shouldn't exempt individuals from consequences.


Trumps America....

https://x.com/atrupar/status/1917375813177037212

Curious with our resident cultists... do you accept that Trump is confused here? He's either seen doctored photos by his advisors or been told about photos that he's misunderstanding?

I'm just curious sometimes when he's clearly wrong about something but you have to rationalize it.

This post was edited by IceMage on Apr 30 2025 01:56pm

Grandpa Trump got tricked/confused here and no cultists are ready to defend. I suppose all of us are faced with a declining old person in our lives... usually not the president though.