Random Thoughts.....What Are You Thinking?

I also promise to get the money from taxes, hire the hottest OF gilrs to make me paws massage and stream it on Twitch

It is about wealth, obviously.


Your definition of rich=be a millionaire.

My definition of rich=you can afford things that you want and live a comfortable life.

That's the difference.


I am not a socialist if I said "cut the tax!". More tax is socialist policy, cutting the tax isn't.


What you are describing here is similar to Fed QE(money printing). Yes, QE cause inflation BUT I've never say QE leads to everyone being wealthy, obviously not.

IMO one thing that makes the most noticable different in terms of people's wealth is tax rate. If your income tax is 5% then every month you lose 5%. If your income tax rate is 25%-40% then every month that's how much you lose.

In the long run, high tax makes you more poor because you save less.

So, by reducing tax rate you are technically making everyone more rich this way.

Looks like tiktok already flipping the switch back on in anticipation of Trump inauguration.

Millionaire was an arbitrary number chosen of a large enough number.

That was the intent when the US and CAD govts put massive raises to the minimum wage, so those making minimum wage "can live a more comfortable life and not need to work 80 hours a week to make ends meet". So they roughly doubled minimum wage, and in turn they tripled the cost of a big mac trio and quadrupled the cost of a dozen eggs.

I'm not sure if you're referring to western countries, or your own country, but we have progressive tax rates. The poor pay next to nothing in tax as is, so cutting income tax would not noticeably help them escape poverty. If anything, it would increase the middle class disposable income and drive prices up.

Not opposed to tax cuts, mind you. They just wouldn't do what you're claiming.

They got 90 days to consider.

Elon said to be against the ban, pointing out that while TikTok is allowed in the US, his X isn't allowed in China, which feels a bit unfair.

Well, if you've ever read my posts in RT you'd know I don't believe low income people's life quality can increase with minimum wage increase lol.

https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html#toc0

CAD has minimum of 15% federal tax and 5-10% provincial tax rate, then it goes up from there. That's 20%-25% of your money gone every month even if your income is on the lowest bracket. Then there is 27%(I think?) capital gain tax and like 5-15% sales tax paid by the buyers(yikes) depends on the province.

So basically no matter what you do, CAD government took a cut and this portion is quite large. Even if your salary is on the low end you still pay a lot of tax. Even if you want to trade some stocks for quick cash you pay tax even for that. The options to make/save more money and become wealthy is more limited.

Just for the sake of comparison, in my region the lowest bracket for income tax and sales tax is 5%, there are no capital gain tax. With tax rate this low, even if your income is low, you still have extra money that you can save and invest. Doing stock swing trading for quick cash can increase your wealth if you are good at it.

I would argue that the reason why working class are poor in CAD is because they are paying too much income tax to the government.

This is what I really meant by "make everyone rich". Even if your income is low, with lower tax you have more money therefore more rich even if your income is on the low end.

The amount of tears over a tiktok ban because peoples lives are being flipped upside down without tiktok, maybe it should stay banned. That ***is just legalized crack to those people.

One *** day without it and theyre suffering massive withdrawals.

Not sure about the US but in CAD the lowest taxable income(55k yearly) is 15% + 4%-10% depending on the province.

You have to be VERY poor to pay 0% in tax, but for anyone with a normal full-time job, that's how much you pay.

I don't see how having more disposable income would 100% driving the price up. We have been keeping inflation rate <2% until very recently when large amount of foreign money entered the economy 4-5 years ago.

You know youre just scratching the surface about taxes in canada with “income tax”, right?

What do you mean? If you mean all those many pages of tax exemption rules then yeah, I didn't include them to avoid turning the discussion into a math mess.

I still don't think CAD is a low tax county though. It's ranked #25 out of 172 countries on the list of highest taxes country in the world. So it's definitely up there.

No

We have carbon tax, which is a tax levied due to carbon footprint of creating or transferring goods, which gets pushed onto the product. The $5 eggs get taxed by the govt for carbon emissions in creation and delivery and keeping them cold. That gets pushed onto the product so now theyre $7 (applies to literally anything)
We have sales tax, which is applied to any goods and services purchased.
Oh and that sales tax is levied on top of the carbon tax thats been included in the base sales price. We are paying sales tax on the $7 of eggs, not the pre-carbon tax cost of $5.

So we are purchasing goods and services with our money that has already been taxed, that has a carbon tax applied to the base cost of the item, as well as a sales tax on the item.

I know all about getting *** over with taxes, thanks. Numbers wise, i make more money today than I did 10 years ago. I also have less purchasing power than I had 10 years ago. Thats inflation, thats taxes, thats a *** up socialist globalist garbage govt at work.

Anyways, imma stop before it devolves too far into politics and i get angry pms from people in green.

That's why you all should vote for me, I'm gonna do a better job than your last PM or president ;)

Ill pass, I fall under middle class, lower end of it but still middle class. Your policies will have zero benefit for me financially, and your open support for DEI policies will hinder me greatly as a heterosexual white male.

Are meme coins worth it?

An executive order cannot overturn nor amend a judicial ruling.

I will bet that no one has mentioned this to Trump. I also bet that Elon doesn't GAS about this. What I can't understand is how tiktoc's lawyers overlooked this.

Worth what?

Ask "investors" in the hawk tuah girl's $hawkcoin that question.

Good point.

When the mob is the boss the executive orders mean whatever the *** he wants them to mean, and has the highest, absolute authority. or the mob threatens your family and you cave.