Trudeau’s proposed luxury tax…

[trey kule]

When it comes to the whole aviation industry there is a very concerted federal government effort to phase it out or downsize it greatly.

A luxury tax is just part of it. Security at airports, draconian Covid restrictions for air travellers based on political science , not medical science.

The great reset build back better agenda is predicated on eliminating the use of fossil fuels
Aircraft are huge users of fossil fuel.
And electric aircraft are a long way off in the future.

Look at what they are doing, not why they say they are doing it.

No one if our present government has mentioned the plan to tax electric vehicles, but that will come.

Only the Canadian oligarchs , and of course, the taxpayer funded PM and cabinet ministers
will be travelling by air soon.

And yes, tax tax tax, to try and hold off the inevitable government default.

Marxism isn’t coming to Canada. It is here and the country is being run by a gang in the PMO.

[Squaretail]

I'm rich and I drive a minivan. My second, and the only 2 vehicles I've ever bought new.

But you're not that rich. If having saved tens of thousands of dollars you feel put you ahead, you're still in a similar wealth bracket to the rest of us plebs. Sorry if that hurts. One of the problems in the world there's a lot of people who vote like they are "rich" or are going to be "rich" and thus vote against their self interest. For all the decrying of Canada being "Marxist" it has no estate tax. I mean, even the Americans have one (albeit easily dodged).

I don't see this hurting the current Canadian market for used little airplanes, and if you can afford a new Cirrus, well you can pay a little extra.

[photofly]

My dad figured his family was rich because he always had shoes to wear to school. Some in his school didn't. I figure I'm rich because I don't have to worry about having food to eat or somewhere to sleep.

YMMV.

[goingmissed]

I'm rich and I drive a minivan. My second, and the only 2 vehicles I've ever bought new.

But you're not that rich. If having saved tens of thousands of dollars you feel put you ahead, you're still in a similar wealth bracket to the rest of us plebs. Sorry if that hurts. One of the problems in the world there's a lot of people who vote like they are "rich" or are going to be "rich" and thus vote against their self interest. For all the decrying of Canada being "Marxist" it has no estate tax. I mean, even the Americans have one (albeit easily dodged).

I don't see this hurting the current Canadian market for used little airplanes, and if you can afford a new Cirrus, well you can pay a little extra.

The rest of us plebs? There are many of us plebs who are working two jobs and living paycheck to paycheck to paycheck every month.

I would love to be able to make enough money to support my family and pay off debts incurred from living for 15 years under this self centered government.

[Squaretail]

My dad figured his family was rich because he always had shoes to wear to school. Some in his school didn't. I figure I'm rich because I don't have to worry about having food to eat or somewhere to sleep.

YMMV.

Then it just reinforces my point. "Rich" isn't a definitive so when one says tax the rich, it probably doesn't mean you. Or me. Or I doubt anyone who posts on this forum. After all what I keep being told about people who are really, really rich is that they work so hard they can't possibly be wasting time here.

I mean most of us here are probably being over-taxed. Most of the working poor and middle class are. I don't argue that, but when folks toss around the terms Marxist, Socialist or Communist to describe our government, it usually just shows that they don't know anything about any of those terms.

While I think a luxury tax is probably an effort in the right direction, we don't want the "rich" to not spend their money, it would be wiser for the government tax wealth that is accumulating to encourage it to be spent.

[alkaseltzer]

My dad figured his family was rich because he always had shoes to wear to school. Some in his school didn't. I figure I'm rich because I don't have to worry about having food to eat or somewhere to sleep.

YMMV.

He went to the same high school as Kamala Harris. Speaks volumes on the hypocrisy.

[photofly]

Who did? My Dad?

[rookiepilot]

I'm rich and I drive a minivan. My second, and the only 2 vehicles I've ever bought new.

But you're not that rich. If having saved tens of thousands of dollars you feel put you ahead, you're still in a similar wealth bracket to the rest of us plebs. Sorry if that hurts. One of the problems in the world there's a lot of people who vote like they are "rich" or are going to be "rich" and thus vote against their self interest. For all the decrying of Canada being "Marxist" it has no estate tax. I mean, even the Americans have one (albeit easily dodged).

I don't see this hurting the current Canadian market for used little airplanes, and if you can afford a new Cirrus, well you can pay a little extra.

My point — occasionally I do try to contribute something positive here — is to be determined to live well below ones's means, and avoid non mortgage debt like the plague.

I know today that is brutally hard. Find a way. I had many lean years of living really, really crappy. Been there.

Do this long enough, while consistently working to raise your earnings power, and in time one can be, if not rich….free.

Its possible.

[photofly]

Technical question: why is mortgage debt distinguishable?

[rookiepilot]

Technical question: why is mortgage debt distinguishable?

Because its applied to an asset with a long history of appreciation— and you can live in it.

Still, should be carefully considered as to amount, serviceability in case of higher interest rates, and should be aggressively paid down.

[digits_]

Technical question: why is mortgage debt distinguishable?

Because its applied to an asset with a long history of appreciation— and you can live in it.

Still, should be carefully considered as to amount, serviceability in case of higher interest rates, and should be aggressively paid down.

Isn't that more linked to what you spend the money on though?

Just because you remortgage your house doesn't make that 70k brand new truck a smarter purchase than it would be getting a loan for a vehicle. Probably some better terms, but not really much smarter.

[Squaretail]

I know today that is brutally hard. Find a way. I had many lean years of living really, really crappy. Been there.

The thing is that its getting harder. Exponentially so. I don't envy the next generations. The world has gotten more expensive to be competitive. After all, there's only so "crappy" one can live before it starts to impact your ability to raise your earning power. Once you get into that state, its really tough to get out of. Sort of like the back side of the power curve.

Do this long enough, while consistently working to raise your earnings power, and in time one can be, if not rich….free.

The problem these days is the raising your earning power part of the equation, and there's a limit to living below your means. So that advice is getting diminishing returns as time goes on.

[rookiepilot]

I know today that is brutally hard. Find a way. I had many lean years of living really, really crappy. Been there.

The thing is that its getting harder. Exponentially so. I don't envy the next generations. The world has gotten more expensive to be competitive. After all, there's only so "crappy" one can live before it starts to impact your ability to raise your earning power. Once you get into that state, its really tough to get out of. Sort of like the back side of the power curve.

Do this long enough, while consistently working to raise your earnings power, and in time one can be, if not rich….free.

The problem these days is the raising your earning power part of the equation, and there's a limit to living below your means. So that advice is getting diminishing returns as time goes on.

I don’t disagree with your sentiments.

[Bingo Fuel]

Does that mean we support Universal Basic Income now?