Ontario Liberals bringing in new $1.7 billion land transfer tax

[Locutus]

& details about new 54% income tax rate


...because our mdma friend missed this one.

Rather than raising taxes on the affluent, Trudeau should cut taxes on the middle and lower class

If there is one plank in the Liberal economic platform that may make for good pre-election populist policy but is terrible economic policy, it is this goal of boosting top personal marginal tax rates to 33 per cent from 29 per cent.

When you tack on what the provincial Liberals are doing in Ontario at the same time, the top combined top marginal tax rate will go from 49.53 per cent in 2015 to 53.53 per cent in 2016 (including the Ontario surtax, a tax layered on top of a tax) — it has not been this high in nearly 30 years.

And the threshold is $200,000! The federal government is going to take this $3-billion tax grab from the high-end to pay for a $3-billion tax reduction for the lower- and middle-end household sector.

Let me be blunt. This is reckless economic policy.

more

Justin, no new taxes!

 

[petros]

jerk off the dog to feed the cat

 

[IdRatherBeSkiing]

I for one do not believe the cutoff will be as high as $200k.

 

[petros]

ON is going to need a bigger dog.

 

[Walter]

Is Wynne wearing her strap-on?

 

[IdRatherBeSkiing]

Is Wynne wearing her strap-on?

Looks like it. Have you bent over?

 

[Walter]

Looks like it. Have you bent over?

It's gonna hurt.

 

[petros]

I'm confused on who these middle class families are. I'm Gen X and one of the married with kids types but vey few of my peers can say that. Who the hell is this "middle class"?

 

[Cannuck]

The tax rate is irrelevant if there are sufficient means around it. Only a complete moron would suggest the top earners are paying anything close to 50%.

 

[petros]

Newing is read to you?

it is this goal of boosting top personal marginal tax rates to 33 per cent from 29 per cent.

When you tack on what the provincial Liberals are doing in Ontario at the same time, the top combined top marginal tax rate will go from 49.53 per cent in 2015 to 53.53 per cent in 2016 (including the Ontario surtax, a tax layered on top of a tax) — it has not been this high in nearly 30 years

 

[AnnaG]

hehe
"News Flash: ON loses residents to taxes!
D Thomson, G Weston, E Rogers III, C Fidani, W McCain, B Sherman, M Scheinberg, the Zekelmans, and F Stronach move families and operations out of the province."

 

[Locutus]

the ultra rich ain't retarded...or at least their tax lawyers aren't.

dat cash and them elites be movin' off shore somewhere.

 

[lone wolf]

She's getting desperate: A lifestyle to maintain and a drying tax well. Time to put her out of our misery

 

[davesmom]

I thought McGinty was Ontario's worst nightmare but Wynne is topping him! Spend and tax is all she knows how to do. The billions the Liiberals have squandered and lied about would have kept Ontario from becoming a 'have-not' Province.
The exodus of major industry is not over yet! She won't quit until she has driven them all out and turned Ontario into a barren wasteland.