anarchy 1.0 - Kriegsanstifter

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Re: anarchy 1.0 - Kriegsanstifter

Post #4301 by tbm » Thu Oct 12, 2017 1:07 pm

Prime Minister Justin Trudeau and his finance minister, Bill Morneau, may still think they can get away with the blatant double standard of hiking taxes on personal corporations, while at the same time shielding their personal family trusts. They preach endlessly about a concern for the middle class, yet the privileged few arrange for their progeny to clip coupons, untroubled by a looming burden on their fellow citizens in less favourable circumstances.

Spoiler alert: The Liberals will not be able to ignore much longer the widespread anger of self-employed Canadians who do not have the means to duplicate their betters’ tidy set-up. Particularly while pensioners, including former government employees, can split pension income with their spouses, while the self-employed without pensions cannot split corporate income.

The lucky Liberal duo, luxuriating roughly in the one-tenth of one per cent and one thousandth of one per cent respectively (“We few, we happy few, we band of brothers”), sternly informed us that “fairness” demands new tax reforms that include a punitive tax on personal corporations. Why? Because the much maligned one per cent is allegedly gaming the system. It turns out that the objects of their guilt-signalling are hardworking middle-class Canadians who follow the rules: doctors, farmers, mom-and-pop shop owners and cash-strapped entrepreneurs.

What about people who were born or married into “comfortable,” even fabulously wealthy families? They can afford to hire expensive tax lawyers whose professional mission is to exploit loopholes in our arcane and exceedingly complex tax code. That explains the popularity of family trusts.

Let’s take a look at how they work. A parent lends money without limit to a trust. It invests the funds, makes a small interest payment to the donor and then distributes (or “sprinkles,” to use the new pejorative term) the income or capital gains from the investments to the donor’s offspring. Assuming the beneficiaries are in a lower tax bracket than the donor, the total tax bill for the family is reduced. Whatever amount the trust does not distribute attracts the top individual tax rate of up to 53 per cent, in contrast to a threatened 73 per cent rate on passive corporate income.

How is that different financially from income sprinkling or passive income in a personal corporation? It isn’t, yet Morneau’s proposal exempts trusts. Furthermore, the fortunate trust-fund kids receive income or capital gains with no obligation to work or contribute to the trust. It is a gift, pure and simple. That is not a problem in itself, but why then penalize a farmer’s family members who receive wages for helping with the harvest? Or a shop-owner’s kids who are paid for watching the counter?

While legally distinct, the two situations are also identical from a fairness perspective. A mother or father transfers income to a son or daughter to take advantage of their lower tax bracket. If the mother is a doctor with a personal corporation, watch out. But if the father has the wealth to set up a family trust, his trust-fund relatives are just fine, thank you.


http://business.financialpost.com/opini ... t-you-cant
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Re: anarchy 1.0 - Kriegsanstifter

Post #4302 by akiberg » Thu Oct 12, 2017 3:20 pm

“No country would find 173 billion barrels of oil in the ground and just leave them there.”
Justin Trudeau
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Re: anarchy 1.0 - Kriegsanstifter

Post #4303 by Curry Rage » Fri Oct 13, 2017 3:01 am

tbm wrote:
Prime Minister Justin Trudeau and his finance minister, Bill Morneau, may still think they can get away with the blatant double standard of hiking taxes on personal corporations, while at the same time shielding their personal family trusts. They preach endlessly about a concern for the middle class, yet the privileged few arrange for their progeny to clip coupons, untroubled by a looming burden on their fellow citizens in less favourable circumstances.

Spoiler alert: The Liberals will not be able to ignore much longer the widespread anger of self-employed Canadians who do not have the means to duplicate their betters’ tidy set-up. Particularly while pensioners, including former government employees, can split pension income with their spouses, while the self-employed without pensions cannot split corporate income.

The lucky Liberal duo, luxuriating roughly in the one-tenth of one per cent and one thousandth of one per cent respectively (“We few, we happy few, we band of brothers”), sternly informed us that “fairness” demands new tax reforms that include a punitive tax on personal corporations. Why? Because the much maligned one per cent is allegedly gaming the system. It turns out that the objects of their guilt-signalling are hardworking middle-class Canadians who follow the rules: doctors, farmers, mom-and-pop shop owners and cash-strapped entrepreneurs.

What about people who were born or married into “comfortable,” even fabulously wealthy families? They can afford to hire expensive tax lawyers whose professional mission is to exploit loopholes in our arcane and exceedingly complex tax code. That explains the popularity of family trusts.

Let’s take a look at how they work. A parent lends money without limit to a trust. It invests the funds, makes a small interest payment to the donor and then distributes (or “sprinkles,” to use the new pejorative term) the income or capital gains from the investments to the donor’s offspring. Assuming the beneficiaries are in a lower tax bracket than the donor, the total tax bill for the family is reduced. Whatever amount the trust does not distribute attracts the top individual tax rate of up to 53 per cent, in contrast to a threatened 73 per cent rate on passive corporate income.

How is that different financially from income sprinkling or passive income in a personal corporation? It isn’t, yet Morneau’s proposal exempts trusts. Furthermore, the fortunate trust-fund kids receive income or capital gains with no obligation to work or contribute to the trust. It is a gift, pure and simple. That is not a problem in itself, but why then penalize a farmer’s family members who receive wages for helping with the harvest? Or a shop-owner’s kids who are paid for watching the counter?

While legally distinct, the two situations are also identical from a fairness perspective. A mother or father transfers income to a son or daughter to take advantage of their lower tax bracket. If the mother is a doctor with a personal corporation, watch out. But if the father has the wealth to set up a family trust, his trust-fund relatives are just fine, thank you.


http://business.financialpost.com/opini ... t-you-cant


Congratulations! Something like a balanced view. Cucki's source would've had you believe that the Red Army was coming to collectivise the farms.

:nucks:

It must be idiotic ideology that gets them so riled up because objectively speaking it's just make work for them. Bean counters need imaginary value beans.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4304 by Curry Rage » Fri Oct 13, 2017 3:28 am

akiberg wrote:
Curry Rage wrote:Shit to signal still at high ratio.

I suggest you stop reading the guardian if you are giving serious consideration to improving your ratio.

Suppose I'll stop reading those IMF reports too. I guess it would give me more time to do all that boring tax nonsense for my businesses. lt's pedestrian for anyone of intelligence but someone has to do it. I suppose I could always hire a trumped up minion to read a rulebook for me but... All this and good looks too.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4305 by akiberg » Fri Oct 13, 2017 6:22 am

I wouldn’t say reading is your problem.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4306 by akiberg » Fri Oct 13, 2017 6:27 am

Curry Rage wrote:
tbm wrote:
Prime Minister Justin Trudeau and his finance minister, Bill Morneau, may still think they can get away with the blatant double standard of hiking taxes on personal corporations, while at the same time shielding their personal family trusts. They preach endlessly about a concern for the middle class, yet the privileged few arrange for their progeny to clip coupons, untroubled by a looming burden on their fellow citizens in less favourable circumstances.

Spoiler alert: The Liberals will not be able to ignore much longer the widespread anger of self-employed Canadians who do not have the means to duplicate their betters’ tidy set-up. Particularly while pensioners, including former government employees, can split pension income with their spouses, while the self-employed without pensions cannot split corporate income.

The lucky Liberal duo, luxuriating roughly in the one-tenth of one per cent and one thousandth of one per cent respectively (“We few, we happy few, we band of brothers”), sternly informed us that “fairness” demands new tax reforms that include a punitive tax on personal corporations. Why? Because the much maligned one per cent is allegedly gaming the system. It turns out that the objects of their guilt-signalling are hardworking middle-class Canadians who follow the rules: doctors, farmers, mom-and-pop shop owners and cash-strapped entrepreneurs.

What about people who were born or married into “comfortable,” even fabulously wealthy families? They can afford to hire expensive tax lawyers whose professional mission is to exploit loopholes in our arcane and exceedingly complex tax code. That explains the popularity of family trusts.

Let’s take a look at how they work. A parent lends money without limit to a trust. It invests the funds, makes a small interest payment to the donor and then distributes (or “sprinkles,” to use the new pejorative term) the income or capital gains from the investments to the donor’s offspring. Assuming the beneficiaries are in a lower tax bracket than the donor, the total tax bill for the family is reduced. Whatever amount the trust does not distribute attracts the top individual tax rate of up to 53 per cent, in contrast to a threatened 73 per cent rate on passive corporate income.

How is that different financially from income sprinkling or passive income in a personal corporation? It isn’t, yet Morneau’s proposal exempts trusts. Furthermore, the fortunate trust-fund kids receive income or capital gains with no obligation to work or contribute to the trust. It is a gift, pure and simple. That is not a problem in itself, but why then penalize a farmer’s family members who receive wages for helping with the harvest? Or a shop-owner’s kids who are paid for watching the counter?

While legally distinct, the two situations are also identical from a fairness perspective. A mother or father transfers income to a son or daughter to take advantage of their lower tax bracket. If the mother is a doctor with a personal corporation, watch out. But if the father has the wealth to set up a family trust, his trust-fund relatives are just fine, thank you.


http://business.financialpost.com/opini ... t-you-cant


Congratulations! Something like a balanced view. Cucki's source would've had you believe that the Red Army was coming to collectivise the farms.

:nucks:

It must be idiotic ideology that gets them so riled up because objectively speaking it's just make work for them. Bean counters need imaginary value beans.

very surprised you’re able to even recognize a balanced view. good for you, little guy.
....but, then you go ruin it by bleeting the same bombastic guardian fueled nonsense we've all become accustomed to. bad for you, little guy.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4307 by tbm » Fri Oct 13, 2017 11:43 am

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Re: anarchy 1.0 - Kriegsanstifter

Post #4308 by Curry Rage » Fri Oct 13, 2017 1:13 pm

akiberg wrote:very surprised you’re able to even recognize a balanced view. good for you, little guy.
....but, then you go ruin it by bleeting the same bombastic guardian fueled nonsense we've all become accustomed to. bad for you, little guy.


LOL, you think the Guardian taught me that bean counters count beans with made up value. :donger:
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Re: anarchy 1.0 - Kriegsanstifter

Post #4309 by paulster » Fri Oct 13, 2017 2:48 pm

This is my least favourite thread.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4310 by akiberg » Fri Oct 13, 2017 4:05 pm

Curry Rage wrote:
akiberg wrote:very surprised you’re able to even recognize a balanced view. good for you, little guy.
....but, then you go ruin it by bleeting the same bombastic guardian fueled nonsense we've all become accustomed to. bad for you, little guy.


LOL, you think the Guardian taught me that bean counters count beans with made up value. :donger:

no.
I don’t think the guardian taught you how to be a tiny little man, either. but here we are.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4311 by akiberg » Fri Oct 13, 2017 4:05 pm

paulster wrote:This is my least favourite thread.

fair
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Re: anarchy 1.0 - Kriegsanstifter

Post #4312 by Curry Rage » Sat Oct 14, 2017 4:46 am

paulster wrote:This is my least favourite thread.


Me three.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4313 by akiberg » Sun Oct 15, 2017 8:41 am

“No country would find 173 billion barrels of oil in the ground and just leave them there.”
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Re: anarchy 1.0 - Kriegsanstifter

Post #4314 by Curry Rage » Mon Oct 16, 2017 4:33 am

When your accountant loses half-a-trillion pounds.

http://www.telegraph.co.uk/business/201 ... bn-poorer/
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Re: anarchy 1.0 - Kriegsanstifter

Post #4315 by akiberg » Mon Oct 16, 2017 6:59 am

Curry Rage wrote:When your accountant loses half-a-trillion pounds.

http://www.telegraph.co.uk/business/201 ... bn-poorer/

you able to find a graph that shows where this 500 billion went?
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Re: anarchy 1.0 - Kriegsanstifter

Post #4316 by Curry Rage » Tue Oct 17, 2017 3:08 am

You watched the 2015/16 Leafs season yet?
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Re: anarchy 1.0 - Kriegsanstifter

Post #4317 by akiberg » Wed Oct 18, 2017 8:43 am

“No country would find 173 billion barrels of oil in the ground and just leave them there.”
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Re: anarchy 1.0 - Kriegsanstifter

Post #4318 by Curry Rage » Wed Oct 18, 2017 11:41 am

Zip up; your hypocrisy is showing, sunshine.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4319 by akiberg » Wed Oct 18, 2017 9:58 pm

Curry Rage wrote:Zip up; your hypocrisy is showing, sunshine.

you don’t understand ratios, graphs and now you seem to be struggling with hypocrisy.
very cute.
enthrall me with the hypocrisy in my lol at Morneau article. can’t wait.
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Re: anarchy 1.0 - Kriegsanstifter

Post #4320 by Curry Rage » Thu Oct 19, 2017 3:23 am

:donger:
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Re: anarchy 1.0 - Kriegsanstifter

Post #4321 by akiberg » Thu Oct 19, 2017 11:01 am

Curry Rage wrote::donger:

you are such a simple little man
cute pic
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