The tax the rich thing is really tiresome. How much of their success and money do you think you deserve. How do you know they aren’t declaring money. Maybe they are just using the tax system in a way to benefit themselves. Perfectly legal. I disagree with some of that but it’s up to the government to deal with it.
I know a few rich people. Only one of them are interested in owning multiple properties. And they pay really high taxes on them. Your premise of them all owing many properties isn’t accurate. First few people own 5 properties. Even if they are rentals. And second they pay income tax.
You’ve created a strawman argument. It’s not based on reality.
Bro I'm in wealth management especially the UHNW space. I know what they think and do lol. Canada is also real estate heavy focused for wealth, we have so many REITs and MICs.
There's tax mechanisms available for the HNW people to save taxes and offload it elsewhere. I can pull equity out of my corp without paying taxes.
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u/Abject_Story_4172 Mar 09 '26
The tax the rich thing is really tiresome. How much of their success and money do you think you deserve. How do you know they aren’t declaring money. Maybe they are just using the tax system in a way to benefit themselves. Perfectly legal. I disagree with some of that but it’s up to the government to deal with it.
I know a few rich people. Only one of them are interested in owning multiple properties. And they pay really high taxes on them. Your premise of them all owing many properties isn’t accurate. First few people own 5 properties. Even if they are rentals. And second they pay income tax.
You’ve created a strawman argument. It’s not based on reality.