[Hehe]

It’s not a new idea that I came up with.

I’ve always joked with my parents that the world needs less of people like them. Their lifestyle didn’t change much from the time they were making 1k a month to 100k a month.

The problem is that it’s hard to convince people as it’s not something normal people can grasp.

But the idea is simple. They go out of their way to make sure their income is sheltered and only takes out what they need. So when it comes to spending any serious dough, their first thought is the trouble and taxation that they need to go through for that portion of money to become clear of taxes and they can spend. That’s why all they do is to keep on acquiring assets. As those are considered pre-tax and stay that way.

This is the same for all the “wealthy” people out there.

Instead, make certain part of economy that can use an infusion of money and make them tax deductible. As long as it’s something that these individuals could use, such as tourism, construction or dare I say it, yachts or jets, money is going to flow to those industries.

Look at what Turd did with luxury tax on jets and yachts. What actually happened? They just drove that demand to little to nothing for Canada and those who want it would take it from other means such as acquiring using an offshore company and rent it to themselves. Did it actually affect the people who buy those? Not really. But for people who are in those industries, the effect was devastating as all the demand just shifted abroad.

The only people who that luxury tax actually affected are those whose life dream is to own a yacht or an airplane or some sort. They don’t have the means to make an offshore entity to acquire it for them. They are the only sucker who ended up paying for those taxes. Or just decided to not buy altogether