this post was submitted on 02 Aug 2023
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I'm so tired of the provincial and federal governments doing this dance. Sure it's a provincial responsibility, just like healthcare. But we have several provinces who are actively making things worse. If the feds are going to stand around and let it happen, they might as well be complicit in it.
They used to fund public housing. Ban corporate home ownership, and introduce taxes to make owning multiple homes unprofitable. Then fix our tax brackets so I don't pay basically the same rate as someone making 10x what I do.
The worst part is there are already places that tax homes beyond the primary home, and the data showed it did exactly what you would expect. All levels of government have failed entire generations over this. it's insane to me.
The feds have made homes an investment with preferential tax treatment. Screw that. If you're making over 250k on the sale of your house you can pay full capital gains on the rest of your profit.
Even the fucking USA only exempts a capped amount from capital gains.
It should be taxed at all three levels...
Is this property your primary residence? No? Pay more municipal tax.
Is this an income property? Pay more tax to the province to be earmarked for low income housing.
Did you earn a profit on your income property this year? Tax that income at the highest income tax rate.
Is the property owned by a provincially incorporated company? Profits are taxed at the highest corporate rate.
Is the corporation owned by someone who cannot be proven to be a citizen of Canada? Pay federal tax.
I'm just some idiot on the internet, and I can solve this problem by taxing the shit out of behaviour that hurts citizens. Why can't people in positions of authority do this? Because it's counter to their interests. Go look at CPC's PP -- where did his double-digit millions of net worth come from?
The fed can't make them better, for the very same reason as when toxic populist trash parties are voted in again they can't make the rest of us worse. The protection that keeps us from a user-pay hell unfortunately keeps them from actual housing improvements.
This is the way.