Your browser version is outdated. We recommend that you update your browser to the latest version.

Government Confiscation - Wealth Redistribution

Posted 8/6/2019

I venture many of you have flown on a commercial airline relate to the pre-flight spiels the Stewardess delivers. They instruct passengers to emergency procedures during a sudden fuselage decompression. Our Stewardesses are adamant you place your oxygen mask on yourself first rather than others. You cannot help others unless you save yourself first.   

For every 100 households in Canada, 12.6 qualify as millionaires regarding net asset value.  With approximately 9,400,000 (2011 census) households in Canada, that equals a little over 1.18 million Canadian households with a net worth of 1 million.[1]

 

Have you ever tried to find what your government’s yearly total spending (actual figures) or its accumulated debt in hard numbers?  The numbers aren’t easy to find. Wonder why?

 

According to Wikipedia 2013 figures there were 36 Canadian billionaires, with a net worth of around $149.17 billion.[2]  Confiscating all their wealth, would be of little significance to Canada’s $1.2 trillion public debt (combined federal and provincial).[3]  Or do little to aid in Canadian federal governmental 2014 expenditures of $276.8 billion.[4]   

 

The government is in the wealth confiscation business to empower itself and fuel its corrupt bureaucracy.

 

Every year within our nations we increase the total number of millionaires, but every year our dollar devalues and is worth less (inflation). So, what does being a millionaire actually mean?  Just because when our parents were our age and ate one fish a day while today, we eat two fish; it doesn’t mean we are getting fatter.

 

What makes little sense is the confiscation of earnings by the feds from hard working Canadians to a projected tune of over $300 billion per year (2017)[5] only to distribute those funds to apathetic leeches who contribute absolutely nothing to society. Do you believe it is morally justifiable for a government to steal wealth from you, and your children’s future?

 

It’s possible for everyone to grow richer through saving. It is not true that a lender grows rich only when a borrower grows poor. In fact, it is possible without government intervention for every single person in a market economy can provide themselves a comfortable retirement, through proper saving and investment throughout their working career.

 

What is the purpose of a having a job?  (Earn money)

What is the purpose of having a corporation? (Earn money for shareholders)

What does a corporation do when the cost of production rises?  (Cost is applied to the price and directed upon consumers)

What happens if you raise taxes too high?  (Costs rise, no one saves, no one works, economy declines)

 

Tax increases are tricky, raising them discourages productivity and deflates economic vitality. Raise taxes too high, people stop working. Raise them higher, and citizens will riot. Wealth redistribution by government steals money from everyone and allows the bureaucracy to decide whom is worthy to receive the redistribution. Foremost, those deemed worthy will not be those who worked and earned it, nor will it go to the needy. It is usually wasted within the unelected and ineffective government bureaucracy and special interest groups.

 

2010 Federal Income Tax Personal Returns partial demographics:[6]

% of tax returns                % paid                                                  % per population

> $ 50,000                           40.4949%                             82.69%                                                19.4578%

> $ 100,000                          9.1299%                              45.96%                                                 4.3869%

> $ 150,000                         3.3189%                               30.44%                                                  1.5947%

> $ 250,000                          1.1338%                              19.80%                                                0.5448%

Total of all returns           48.0500%                                                            48% of Canadians don’t pay taxes

 

Released, 2012 CRA figures, reveal 50.3% of Canadians did not pay income tax.[7]

 

I assure you the U.S. tax demographics are very, very similar. Check Rush Limbaugh’s website, http://www.rushlimbaugh.com/Pages/Static/Only-the-Rich-Pay-Taxes   for detailed links.

 

The less the Canadian government spends of your money, the more money you keep in your pocket and lessens the negative effect in your children’s future.

 

Think about it, if you were allowed to keep an additional 10% of your earnings rather than having it plucked from your pocket to cover taxes, one could apply such to one’s retirement fund and allow it to grow.

 

Think about it, if all taxes were 10% lower, how much extra money you would have to save or if you preferred, spend.

 

Think about it, if the fuel excise tax was 10% lower, how many more miles one could drive. Think about it, even if the fuel excise tax was actually applied as promised in full to maintain our roads.

 

An Oilfield Worker shared this statement with me in the summer of 2014 when oil prices neared $100.00 per bbl: “I am constantly reminded that Southeast Saskatchewan is in a boom, but I am not feeling it! Are you?”



[1]              Millionaire Nation: Canada Tops G7 Rich List, Eric Lam, Financial Post, May 6, 2011. <http://business.financialpost.com/news/economy/canada-just-an-ordinary-millionaire-nation-eh/wcm/b54c28c2-1e1a-4b9f-851f-3092eac8cb9f>

 

[2]              https://en.wikipedia.org/wiki/List_of_Canadians_by_net_worth

[3]              https://en.wikipedia.org/wiki/Canadian_public_debt

[4]              https://www.fin.gc.ca/tax-impot/2014/html-eng.asp

[5]              http://www.budget.gc.ca/2017/docs/plan/budget-2017-en.pdf

[6]              CRA 2010 revenue stats:  http://www.cra-arc.gc.ca/gncy/stts/gb10/pst/fnl/menu-eng.html

[7]              Final Statistics (T1 data), Canada Revenue Agency, < http://www.cra-arc.gc.ca/gncy/stts/t1fnl/2012/menu-eng.html

Fields marked with * are required.

Cookie Policy

This site uses cookies to store information on your computer.

Do you accept?