Politics: Singh’s proposed super-wealth tax
Self-tutoring about politics and the coming election: the tutor mentions the super-wealth tax, as he understands it.
We are used to federal consumption tax (GST) and income tax, but what about tax on holdings? Perhaps Singh’s proposed “super-wealth” tax would be such.
As I understand, Jagmeet Singh is proposing a 1% tax on the real estate, luxury items, and investments of Canadians whose total $20M or more. Around one Canadian per thousand, apparently, might be eligible.
Such a tax might seem like a gutsy idea, but who would it hurt? 1% of 20 million is 200,000…probably negligible to those who qualify to pay it.
Jack of Oracle Tutoring by Jack and Diane, Campbell River, BC.