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I am a Millionaire. Tax Me More, Please. (macleans.ca)

submitted 3 weeks ago* (last edited 3 weeks ago) by Davriellelouna@lemmy.world to c/canada@lemmy.ca

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[-] karlhungus@lemmy.ca 1 points 3 weeks ago

I hear you, and i agree. I don't understand how to achieve it though, a tax on net worth, with brackets starting at 100 million? Wouldn't they just move their money over a place that would hide it?

[-] villasv@lemmy.ca 1 points 3 weeks ago* (last edited 3 weeks ago)

Wouldn’t they just move their money over a place that would hide it?

Moving the money shouldn't make a difference, though. You pay taxes regardless of where you the money comes from or goes to.

Hiding income is illegal already. So more enforcement and steeper fines are about the only things left to do for those.

[-] Showroom7561@lemmy.ca -1 points 3 weeks ago* (last edited 3 weeks ago)

I don’t understand how to achieve it though, a tax on net worth, with brackets starting at 100 million?

Implementation isn't a consideration until society gets serious about doing it.

Wouldn’t they just move their money over a place that would hide it?

Make that a crime. Tax evasion or worse. Jail wealth hoarders if they don't comply, because they are destroying lives and don't deserve to play games.