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Fellow Canadians 🇨🇦 I was completely shocked watching Rosie Barton on CBC today. She actually agreed that Pierre Poilievre’s proposal to remove the gas tax could lower fuel prices by about $0.25 per litre at the pump right away. Critics are pushing back hard, arguing it would create a...

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SHOULD GOVERNMENT BE ALLOWED TO TAKE PRIVATE PROPERTY? “People are waking up to the fact that the asset seizure tax is an elimination of private property rights, that fundamentally what you're saying [is] that private property now becomes public property. Because as soon as you give the government the right to collect your post-tax assets through a legislative vote, you are basically saying that you no longer have private property — because at any point in the future the government can vote to say I'm going to take your private property — which is different than an income tax. [An income tax] is when you earn something that you didn't have before, and they take a percentage of your earnings (of your income). The statement now is after you've made your income (it's now your private property) — they can come and take it. And so that is a distinction that has never existed in the United States. And I will make the retort right now to property tax, because people always say to me: ‘what about property tax?’ A property tax is a service fee on a particular, specific asset. The money that is collected provides services for that asset to make it more valuable. So you get roads, infrastructure, policing, fire, schools… All the stuff that comes with property tax makes that property [more valuable]. And you have the option at any point you want to sell that property and stop paying that property tax. You have the option at any point to downgrade your property and get a cheaper property and pay [a lower tax]. And here's the other important point about property tax: it’s uniform. Uniform means that everyone pays the same percentage, the same property tax rate in a county. This asset seizure tax that's being proposed is a demographic tax — meaning that the state or the legislature defines a specific group of individuals (in this case, they're saying anyone with a net worth over a billion dollars) and then they can go and take assets from only that group. That is nonuniform taxation. It means that for the first time we're saying based on the demographics of a person meaning whatever you want to use to define that person (in this case their wealth) — you are going to be treated differently. And that is different than an income tax, because remember when you have graduated income tax rates (and you say high earners get taxed more) — what you're taxing is the earnings, not the individual. You're not looking through to the individual to determine whether or not they're wealthy. All you're doing is looking at the independent earnings amount that's coming in. And so a uniformity clause is supposed to protect people from being demographically discriminated against. And you may roll your hand and be like: ‘Oh, who cares about the billionaires? Eat the rich. That's great.’ But fundamentally, you're giving the government, the legislature, the ability to in the future take any demographic definition they want and go in and take any percentage they want of after-tax property from you. That is why this is so troubling.” david friedberg The All-In Podcast

Ron Pragides 

258,567 Aufrufe • vor 6 Monaten

David Friedberg: California’s “Billionaire Tax” is a Trojan Horse to Go After the Middle Class's Private Assets david friedberg: “The reason they're calling it a billionaire tax is to make it easier for people to vote for it, and sign up to this entirely new tax system that they're proposing to put on all Americans at some point, and for the first time ever degrading our private property rights.” “Forget about how much wealth you have, forget about how rich you are, forget about the term billionaire, millionaire, whatever it is.” “We're creating, or proposing the creation, of a new tax system that allows the government for the first time ever to come in and audit everything you own.” “All the jewelry your grandma gave you, the value of all the couches in your house, the value of your car, the value of all your stocks and bonds, and the government can come in, and for the first time, look through the veil into your personal property.” “And say, ‘Here's how much all this stuff is worth. I'm charging you a percentage of that. That's what I need to get paid.’ And it doesn't matter that it starts with billionaires. What matters is that we're giving the government the right to look into our private property and take a percentage of it every year.” “The total net worth of billionaires in the US is $8 trillion.” “The net worth of the US, the middle class, and everyone else is $170 trillion, compared to $8 trillion of the billionaires.” Chamath Palihapitiya: “They need a way to open the door so that they can go after the real honey pot.” “The real honeypot is not 200 people.” david friedberg: “Just so everyone understands the real goal of this is not to tax billionaires, because there are other ways to tax billionaires.” “Charge them a capital gains tax if they borrow against their assets that they haven't paid capital gains tax on. Very simple, that can resolve this.” “Another thing you can do, you can raise the capital gains tax rate. Sounds unpopular. I don't agree with that, but that's another way to deal with this, which is to take the capital gains tax rate from 20% to 30%. You could do that.” “The real goal of this is to create, for the first time in American history, a private property asset seizure tax. Because they're going after the $170 trillion, not the $8 trillion that the billionaires have.”

The All-In Podcast

1,807,444 Aufrufe • vor 7 Monaten