Mark Carney's attacks on Canada's public service should concern all Canadians (noraloreto.substack.com)

submitted 2 days ago by yogthos@lemmy.ml to c/canada@lemmy.ca

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[-] masterspace@lemmy.ca 3 points 1 day ago

Capital flight is often blown up into a bigger issue then it is by conservatives to avoid taxing the wealthy, but it is not a myth. It is a real effect that governments need to take into account when making policy decisions.

I.e. If it was a myth, we wouldn't have an exit tax.

[-] anachronist@midwest.social 6 points 1 day ago

It's a myth that rich people aren't already avoiding every tax they can. They would have you believe that there are rich people not currently avoiding a 20% tax who would avoid it if it were 40%. In fact they're already doing everything they can do to avoid it and if they're paying it at 20% they would still be paying it at 40%.

[-] Mavvik@lemmy.ca 5 points 1 day ago

Its a myth in the sense that it isnt significant except in extreme scenarios (e.g. violent regime change, economic collapse). A modest wealth tax will not make that happen.

[-] masterspace@lemmy.ca 2 points 1 day ago* (last edited 1 day ago)

I mean, it's different because California is a state and not a country, but they are seeing some capital flight because of their wealth tax. I'm not saying that makes the wealth tax not worth it, I'm just saying that it is a real effect.

Free trade created the free movement of capital but not the free movement of labour, and capitalists can exploit that.