Quote:
Originally Posted by Hmoob
I'm with let's wait and see on how the income tax plays out, but here's a thought experiment.
The hypothetical person (James) who might leave or decline coming to BC because of this tax is probably looking at metro Vancouver (sorry Terrace) as their home. Whatever values and priorities James has, we know he cares about money in that this tax may influence his decision. We should look at the cost of the tax in the context of the whole financial picture; comparing Vancouver to other locations he might chose.
The biggest thing that stands out is our cost of housing. James makes good money and will want a house in West Vancouver. It's going to cost him more than $75,000 annually for the mortgage on that. That could buy a pretty nice place in any number of locations. Unless he's considering Silicon Valley or Hollywood Hills for comparison, we've already lost him.
The marginal tax on his earnings above $220,000 could be the last straw, but it's a small piece of the equation. It's especially so if we consider how he might value, or not value, all of the other tangible and intangible aspects of living in Vancouver vs. elsewhere.
|
To me the fear that we may see a bunch of rich people move a way or not move here, because of small increase in there taxes. Is simply a scare tactic used by the rich to keep their income taxes lowered. They use it to scare the poor person into thinking their boss will move away and the poor person will loose their job
As well even if James decides to not move here. Chances are Jim will want to move and take James place. There is alway someone willing to replace someone.
In regards to "trickle down economics." It simply doesn't work because humans are greedy.
Threaded Mode