Home equity tax

[Jubee]

So people who inherited anything from their families won the lottery and deserve to be taxed?
So what about Galen Weston?

KLEIN: Liberals eye home equity tax while Canadians shout ‘fake news’ and hurl emojis

The Liberal government wants to tax your home equity. Instead of facing facts, readers resort to hashtags and name-calling. Read more.

winnipegsun.com

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[JohnHenry]

I could see doing that by levying an additional 5 percent on property tax for each year of ownership. Maybe part of that extra revenue could be used to reduce the tax on first time buyers.

 

[bazokajoe]

I could see doing that by levying an additional 5 percent on property tax for each year of ownership. Maybe part of that extra revenue could be used to reduce the tax on first time buyers.

I've had my house for 25 years. So you expect me to pay more taxes just so someone else can be lazy and not save for their first house?
GTFOOH.

 

[bazokajoe]

There is no doubt the liberals want to tax home owners. I think it was 2016 when you had to start reporting your house sale on your federal tax return.
They want to see how much money they can rake in.
Just another sign liberal's are incompetent running a government.

 

[JuanGoodman]

Maybe part of that extra revenue could be used to reduce the tax on first time buyers.

sorry but NO

all that extra money and then some is needed to fight climate change

 

[JuanGoodman]

Just another sign liberal's are incompetent running a government.

they are very competent lining their own pockets

 

[bazokajoe]

they are very competent lining their own pockets

Sad but true.

 

[bazokajoe]

sorry but NO

all that extra money and then some is needed to fight climate change

Umm, NO!

 

[Butler1000]

It would end up an election loss if they did it to rival the 2 seat decimation of the Conservatives over the GST.

And they know it.

 

[speakercontrols]

Absolutely! Tax the rich!
If not, then dramatically lower if not cut off OAS for homeowners so Boomers can used their hard-earned home equity for pull themselves up by their bootstraps and pay their way!

 

[The Oracle]

You'll own nothing and you will be happy...This is their end game.

 

[JuanGoodman]

Tax the rich!

you know that it's the rich who came up with that slogan, don't you

elbows up, mate

 

[speakercontrols]

You'll own nothing and you will be happy...This is their end game.

you forgot to add, "and eat bugs". I mean, use the phrase correctly right?

 

[speakercontrols]

you know that it's the rich who came up with that slogan, don't you

elbows up, mate

I thought they were "eat the rich" since they wanted oral?

 

[bazokajoe]

Absolutely! Tax the rich!
If not, then dramatically lower if not cut off OAS for homeowners so Boomers can used their hard-earned home equity for pull themselves up by their bootstraps and pay their way!

Well then the home owners kids can kiss their inheritance good bye.
Time for the young to pull their weight and stop blaming others.
Bunch of powder puffs.

 

[JuanGoodman]

I thought they were "eat the rich" since they wanted oral?

eat the rich, tax the rich

it doesn't matter to them

as long as you will never be rich

 

[Frankfooter]

eat the rich, tax the rich

it doesn't matter to them

as long as you will never be rich

Tax rates on the rich in the US used to be 80% and there were more unions.
That's when people could afford to buy houses.

 

[JohnLarue]

Absolutely! Tax the rich!
If not, then dramatically lower if not cut off OAS for homeowners so Boomers can used their hard-earned home equity for pull themselves up by their bootstraps and pay their way!

OAS has nothing to do with homeownership
And there is an income claw back already attached to OAS

one can not access the equity in a home without selling it or borrowing against the equity

 

[K Douglas]

Tax rates on the rich in the US used to be 80% and there were more unions.
That's when people could afford to buy houses.

Tell us you have no clue without telling us you're clueless. One has nothing to do with the other. And btw taking 80% of one's wealth/income is confiscation. Fortunately those exorbitant rates didn't last long.
Now we need to get our rates down to below 50% for every province in Canada. The only way that will happen is to vote blue.

 

[K Douglas]

Absolutely! Tax the rich!
If not, then dramatically lower if not cut off OAS for homeowners so Boomers can used their hard-earned home equity for pull themselves up by their bootstraps and pay their way!

This might be one of the most boneheaded comments I've ever seen on this forum. And it didn't come from Frankie either