Fox News and 50 Cent

The original comment was based on revisions to some policies regarding U.S. taxation. I agree that it's not illegal, but I fail to understand why there should be provisions which allow for large transfer of assets without paying for capital gains. Again, a comment on proposed changes to U.S. taxation. lol
Different points of view I guess. I personally don’t have a problem with it.

The real thing people should be worried about is not who should be taxed more.
Government’s need to stop spending so much.

problem is no politician is worried about the financial health of a country. They are worried about being re elected.

If we were running our homes/business like the government does and constantly spending more than we bring in then we would be in trouble. If it was a spending problem in the household it would be living beyond our means. At some point we would need to make more money or cuts spending to pay off our debt.

Not the government though! They just steal more from people and spend even more. That’s not enough so they print money.
The whole thing is fucked.

And here we argue about who needs to be charged more tax. Government’s need to stop wasting our money and putting future generations in debt
 
Different points of view I guess. I personally don’t have a problem with it.

The real thing people should be worried about is not who should be taxed more.
Government’s need to stop spending so much.

problem is no politician is worried about the financial health of a country. They are worried about being re elected.

If we were running our homes/business like the government does and constantly spending more than we bring in then we would be in trouble. If it was a spending problem in the household it would be living beyond our means. At some point we would need to make more money or cuts spending to pay off our debt.

Not the government though! They just steal more from people and spend even more. That’s not enough so they print money.
The whole thing is fucked.

And here we argue about who needs to be charged more tax. Government’s need to stop wasting our money and putting future generations in debt

It wasn't about who is taxed more, it's about tax privileges, but that's a U.S. problem.

I would contend that financial well-being is tightly tied to any re-election hopes. Money printing has been going on for the past 10 years. Every country did it to salvage their economies and banking systems after the financial crisis. But, the U.S. is going to be paying a steep price for their unlimited debt under Trump. Inflation anyone? If it happens it will be a boon to Canada, as a weak U.S. dollar means oil and other material exports will soar. I'm hoping we see a weaker U.S. dollar, this country would really benefit from a commodity super-cycle. It won't last long, 5 or so years, but long enough to get things back on track from coast to coast to coast.

Japan has been financing their economy with debt for decades, and it hasn't caused the problems people anticipated. With fewer children and insufficient immigration governments have no choice but to add debt to the books. I'm on the fence whether paying down debt makes sense. I realize you pay interest on debt, but the revenue required to decrease debt could be used to generate greater profits if it is spent on projects that will earn a greater return than the interest payment on the current debt.

Personally, I would like to see more money injected into our health care system. With the taxes we pay there's no need for supplemental insurance. Same goes for education. The greater the standard of education the better the future of this country. In my opinion, it's how money is spent, that is, value for money, versus spending. I don't see us having the issues Japan has faced. We are a relatively small population with tremendous resources. Even if oil demand declines from 2025 on out, there is the possibility of a hydrogen economy, but the technology and associated costs involved are far too expensive. I'm confident the petrol economy will remain for a good while yet.

If you look at the low rig count in U.S. shale, recent consolidations and defaults, as well as the massive debt these companies were carrying, I don't see shale coming back online in force. What bank wants to take on such risk? This also bodes well for Cdn crude. If the Dems get in and do curb fracking it is another bonus for Cdn oil exports. Many U.S. refineries are set up to process heavy crude, and that's not going to change. If the stars align and demand outstrips supply those in the oil patch need to make hay while the sun shines. I'm sincerely hoping this is how things play out.
 
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It wasn't about who is taxed more, it's about tax privileges, but that's a U.S. problem.

I would contend that financial well-being is tightly tied to any re-election hopes. Money printing has been going on for the past 10 years. Every country did it to salvage their economies and banking systems after the financial crisis. But, the U.S. is going to be paying a steep price for their unlimited debt under Trump. Inflation anyone? If it happens it will be a boom for Canada, a weak U.S. dollar means oil and other material exports will soar. I'm hoping we see a weaker U.S. dollar, this country would really benefit from a commodity super-cycle. It won't last long, 5 or so years, but long enough to get things back on track from coast to coast to coast.

Japan has been financing their economy with debt for decades, and it hasn't caused the problems people anticipated. With fewer children and insufficient immigration governments have no choice but to add debt to the books.

Personally, I would like to see more money injected into our health care system. With the taxes we pay there's no need for supplemental insurance. Same goes for education. The greater the standard of education the better the future of this country.
Russia has armies of well educated people.Still not much happening there in terms of innovation outside of war machines eh?
Maybe stopping the obesity epidemic would be more cost effective?
Regardless,in the U.S,how will the burgeoning black pop view these limitations at a time that is ripe for business growth with the buy America push?
Whitey got in now slam the door?
 
It wasn't about who is taxed more, it's about tax privileges, but that's a U.S. problem.

I would contend that financial well-being is tightly tied to any re-election hopes. Money printing has been going on for the past 10 years. Every country did it to salvage their economies and banking systems after the financial crisis. But, the U.S. is going to be paying a steep price for their unlimited debt under Trump. Inflation anyone? If it happens it will be a boon to Canada, as a weak U.S. dollar means oil and other material exports will soar. I'm hoping we see a weaker U.S. dollar, this country would really benefit from a commodity super-cycle. It won't last long, 5 or so years, but long enough to get things back on track from coast to coast to coast.

Japan has been financing their economy with debt for decades, and it hasn't caused the problems people anticipated. With fewer children and insufficient immigration governments have no choice but to add debt to the books. I'm on the fence whether paying down debt makes sense. I realize you pay interest on debt, but the revenue required to decrease debt could be used to generate greater profits if it is spent on projects that will earn a greater return than the interest payment on the current debt.

Personally, I would like to see more money injected into our health care system. With the taxes we pay there's no need for supplemental insurance. Same goes for education. The greater the standard of education the better the future of this country. In my opinion, it's how money is spent, that is, value for money, versus spending. I don't see us having the issues Japan has faced. We are a relatively small population with tremendous resources. Even if oil demand declines from 2025 on out, there is the possibility of a hydrogen economy, but the technology and associated costs involved are far too expensive. I'm confident the petrol economy will remain for a good while yet.

If you look at the low rig count in U.S. shale, recent consolidations and defaults, as well as the massive debt these companies were carrying, I don't see shale coming back online in force. What bank wants to take on such risk? This also bodes well for Cdn crude. If the Dems get in and do curb fracking it is another bonus for Cdn oil exports. Many U.S. refineries are set up to process heavy crude, and that's not going to change. If the stars align and demand outstrips supply those in the oil patch need to make hay while the sun shines. I'm sincerely hoping this is how things play out.
My point was broad-based. But, to use your example you inherit a business from your father. That's a disposition of an asset. Any time the original holder/owner of an asset disposes said asset one must pay taxes on any capital gains. To simplify, if your father left you 100 shares of company xyz in his will you have two choices, you collapse the investment and pay the capital gains on that investment from the proceeds of the sale, or you retain those 100 shares and pay the capital gains tax out of pocket.

You can't transfer an asset from one person to another without paying taxes on the gains (appreciation) of an the asset. If your father left you a viable and successful business, then you take out a loan to pay the capital gains tax and retain the business. If you choose not to then you sell the business, the capital gains are taken from the sale of estate and the remaining balance goes to you. If it is a successful business you won't have an issue. I'm not sure what the argument is as this is standard and nothing new. The business your father leaves you is going to be assessed based on its material assets. It's no different than him leaving you his house, you pay taxes on the appreciation of the physical asset. Anyone who is intending on gifting a business or any assets should have some estate planning, which will outline the taxes required at the time of transfer. Most likely this would be done well before one's death as few step into a business not having any experience.

This is basic taxation and accounting. Allowing someone to forego capital gains tax is allowing someone to make money without any paying tax on the money they earned. It's how transfer of assets, farms included, is done. I'm not sure why anyone would think this is anything new?

The rich may leave, but if they own property, investments, etc, you cannot dispose of an asset without paying taxes on the sale of that asset, unless the asset has lost value. If they have money stored in accounts offshore that is a totally different discussion.

It's not about jealousy, it's about paying tax on money earned. That principle is applied to everyone, but in this instance you have wealthy people who do not want to pay taxes on the money they have earned, rather they want to cheat the taxman via loopholes made possible by a government that catered to the wealthy and privileged.
Damn I wish we could get our wealthy politicians to pay their fare share of taxes, instead of using off shore havens. Lol
 
Damn I wish we could get our wealthy politicians to pay their fare share of taxes, instead of using off shore havens. Lol
I guarantee there are wealthier people in this country who have taken advantage of 'tax havens.' I recently read that in the U.S. 1% of the population holds $50 trillion worth of the wealth. It would be very interesting to know what amount of wealth is hidden in the shadow banking system.
 
I guarantee there are wealthier people in this country who have taken advantage of 'tax havens.' I recently read that in the U.S. 1% of the population holds $50 trillion worth of the wealth. It would be very interesting to know what amount of wealth is hidden in the shadow banking system.
Yeah but the politicians make the rules.
Likely a ton in the shadow system. Bet Trudeau has had a few million put in his account, lol.
 
Yeah but the politicians make the rules.
Likely a ton in the shadow system. Bet Trudeau has had a few million put in his account, lol.
The shadow banking system is not an operation that legally exists or has regulated operations on Canadian soil. Our politicians have no influence on banking regulations for banks that don't operate in this country or don't exist. Most of these exist in areas associated with tax havens.
Here's an interesting article on the shadow banking system, how it has developed and exists as a tool of banking conglomerates, and isn't tied to a geographic area. It's complex, interesting, and the banking system is not as detached as I thought, and tax havens appear to be an important element.

 
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I guarantee there are wealthier people in this country who have taken advantage of 'tax havens.' I recently read that in the U.S. 1% of the population holds $50 trillion worth of the wealth. It would be very interesting to know what amount of wealth is hidden in the shadow banking system.
Justin might have a good idea.
 
The shadow banking system is an operation that exists or legally operates on Canadian soil. Our politicians have no influence on banking regulations for banks that don't operate in this country or don't exist aside from being accessible to a small segment of the global population.
Does some entity exist that forces Trudeau to deal with these shadowy banks?
 
Saw this. Thought of you guys.
View attachment 6579
Must be why the boss flew the CB jet down to the caymans for the company team building exercise....

should have seen the old guy’s thong. Bagua got one whore of a sunburn and we still haven’t found 3ml.....

flexy? Well he can decide if he wants to tell his tale.....tranny midgets may or may not have been involved and I was the fuck out of that Halloween haunt!

the boss was last seen making dick pill margaritas and chasing Caribbean fur-less beavers down the beach in a southerly direction.

I, of course, remained on the straight and narrow the entire time and represented CB and our interests well.... if anyone asks, I’ve been in Canada the whole time though....just sayin’
 
The shadow banking system is not an operation that legally exists or has regulated operations on Canadian soil. Our politicians have no influence on banking regulations for banks that don't operate in this country or don't exist. Most of these exist in areas associated with tax havens.
Here's an interesting article on the shadow banking system, how it has developed and exists as a tool of banking conglomerates, and isn't tied to a geographic area. It's complex, interesting, and the banking system is not as detached as I thought, and tax havens appear to be an important element.

I didn’t say it was linked to Canada. Or regulated by Canada.
I was making a joke about Trudeau putting his kick back money in his shadow account so it couldn’t be tracked.
You know the extra he was gojng to get from WE or the strip club, lol.
 
Must be why the boss flew the CB jet down to the caymans for the company team building exercise....

should have seen the old guy’s thong. Bagua got one whore of a sunburn and we still haven’t found 3ml.....

flexy? Well he can decide if he wants to tell his tale.....tranny midgets may or may not have been involved and I was the fuck out of that Halloween haunt!

the boss was last seen making dick pill margaritas and chasing Caribbean fur-less beavers down the beach in a southerly direction.

I, of course, remained on the straight and narrow the entire time and represented CB and our interests well.... if anyone asks, I’ve been in Canada the whole time though....just sayin’
You were scuba diving with me, then we went for a few beer.
 
I didn’t say it was linked to Canada. Or regulated by Canada.
I was making a joke about Trudeau putting his kick back money in his shadow account so it couldn’t be tracked.
You know the extra he was gojng to get from WE or the strip club, lol.
All good. It got me thinking about the topic, then I did some research and realized I only had a partial grasp, and even that barely scratched the surface. Makes me think of cartels and how they funnel billions of dollars into investments, property, savings. HSBC was found to have laundered and bulk moved nearly a billion dollars of narco money, in addition to laundering money for terrorist organizations. That's the sort of thing I don't understand. They admitted fault and paid a nearly $2B settlement, but the bank is the 6th largest in the world, est value is $2.7 trillion, which is equivalent to issuing a citation to someone convicted of dealing/trafficking narcotics.
 
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