Liberals “Tax People Back Into the Stone Age” Plan Is Sending the Wealthy Out of the Country

Hey, these guys know what they’re doing:

A big Canadian player has quietly picked up his chips and is heading for the exit amid all the tumult over the Trudeau government’s controversial tax proposals.

A business owner has informed John Manley, the head of an organization representing Canada’s largest corporations, that he’s moved billions of dollars outside the country since the Liberals announced their tax changes in mid-July.

The government’s proposals to eliminate several tax incentives have awakened a large contingent of vocal opponents from numerous backgrounds — from the small business community, to farmers, to tax planners, to professionals like doctors and lawyers. Even backbench Liberal MPs have publicly expressed their concerns.

In the background, the Liberals’ proposed tax reforms are also a deep concern for a much-smaller, silent group of Canadians: wealthy business leaders.

  • shasta

    Liberals seem to be counting on a lack of survival instinct among Canada’s more productive citizens.

    • Tooth&Claw

      and they couldn’t be more wrong. These people have the means to protect their wealth, and they will.

  • Hard Little Machine

    Socialist countries in a global economy are faced with a quandary. They want every last nickel you hold but they can’t control other countries and their laws as much as they’d like. They can adopt policies like the US where personal income overseas is taxed at least twice but all that accomplishes is economic isolationism and autarky for the middle class and a big industry in tax avoidance for the wealthy. The French tried this until it dawned on the wealthy to move their money to Luxembourg and avoid soak-the-rich policies in France. On a smaller scale this is why industries are moving from California, NY, NJ, Illinois and Massachusetts, and moving to Florida, Texas, Nevada where state income taxes are either very low or zero. Governments haven’t demonstrated that they’re better with using big chunks of your money than you are. On paper they throw it around to people who didn’t pay in and it all sounds good, but quietly, people are leaving. The engine of that economic system is slowly leaving. Were it not for immigration, both legal and illegal, NYC would see a drop of 300,000 people a year. That’s a city the size of Cincinnati leaving every year. The State of NJ shows a similar trend. Combined, that’s one Milwaukee leaving every year. The top 7 states for population growth are red states. 12 of the 14 top states are red or at least purple trending red. 13 of the 15 lowest population growth states including the three that are negative growth, are blue states.

    • DMB

      Well said!

  • WalterBannon

    Justine Trudope: “Make Canada Venezuela”

  • CodexCoder

    If any of the Liberal elite, like Trudeau, and Butts, spent 5 minutes learning a bit about economics, they would realize that this result of high taxation, capital displacement (or whatever term you wish), has been predicted by Adams, Sowell, Friedman and Hayek on numerous occasions, had been observed throughout the history of the Western world, and is not a new phenomenon. BUT our elite can’t be bothered because they don’t care and because the almighty political narrative, right or wrong, is all important, consequences be damned. A big bunch of lemmings looking for a cliff.

    • canminuteman

      It’s worse than that. They do understand and do it anyway. I remember an interview I saw with Obama where the interviewer questioned his tax policies and pointed out that they were reaching a point where if they tried to take more it would cost them money through tax avoidance, people moving and people just not bothering to work anymore. His response was “we don’t care about those things, it’s about fairness.” Don’t assume they are doing what they are doing because they are stupid, they are doing it because they are evil.

  • Morticiaa

    Doesn’t anyone recall how his father destroyed the small businesses and created the big depression in early 80s
    No surprise like father like son
    Except he is way dumber
    Also his fathers thesis is no where to be found in ANY university
    It was about
    How to desroy a democratic capitalist country with socialism

  • DMB

    Attention Liberals the poor, migrants and all those on social assistance do NOT create jobs. Wealthy people do!

    • newz

      Lefties will never understand this simple truth. Course most of them are “employed” by the government to minister to these poor souls so you know
      job security and big fat pensions. They don’t understand you can’t feed yourself and your family by virtue signaling in the real world. Food comes by work. Houses get built by work. Products people want to trade for get produced by work. Real work. Not bloated government spending working folks money like drunken sailors.

  • andycanuck
  • Dave

    Again, the boy blunder lives up to his reputation. F*cktard extraordinaire!

    • Minicapt

      A dotard before his time.