New luxury yacht tax in Canada

kent_island_sailor

Super Anarchist
27,276
5,186
Kent Island!
About everything except some products of necessity (food etc...) and some stuff that is good for the planet (insulation of old buildings etc...). Once upon a time there was a special VAT rate for luxury goods (Car, boats etc...) that was at 33% ISTR. It didn't kill the boat industry either, they just built smaller boats.

I don't particularly like taxes, this Canadian tax might hurt a bit the Breton economy as we might loose a few sales or a Pogo 36 might morph into a Pogo 30 but I think that there is a lot of scaremongering in these discussions when people say "this is going to kill an industry". If you look at the facts you realise that national states are becoming weak compared to the wealthiest and if we don't want to loose democracy we need to make sure that wealth doesn't concentrate too much. At the end if we all vote for governments that are so indebted that they don't have a say we've lost democracy by stealth.
This tax is a PUNITIVE tax. If France taxed boats at 20% and everything else at 5%, you would have a lot less boats.

Besides for that, this experiment has been done before, it hardly collected any revenue, and it screwed working people hard. Like I said, I was there for it and saw exactly what happened.

 

bgytr

Super Anarchist
5,017
646
This tax is a PUNITIVE tax. If France taxed boats at 20% and everything else at 5%, you would have a lot less boats.

Besides for that, this experiment has been done before, it hardly collected any revenue, and it screwed working people hard. Like I said, I was there for it and saw exactly what happened.
Yes.  This tax in the US back when we did it actually cost the govt more money in unemployment compensation than in taxes raised.  Really stupid.  It was the poster child of idiotic govt policy.

 
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sailman

Super Anarchist
8,328
440
Portsmouth, RI
Randro said:
$19.84 per hour
 




What is the minimum wage in Australia? As of 1st July, 2020 the minimum wage is $19.84 per hour, or $753.80 per 38-hour week. Casual employees get at least a 25 per cent loading.15 Jan 2021
No idea what any of that means and do not really care about rates in AUS.

 

fastyacht

Super Anarchist
12,928
2,597
Randro said:
Typical inward looking Yank cunt. 

You asked the question, you got an answer where it is working, not what you wanted was it?
No idea whether it is working. Also no idea what a Adollar is worth....

..

 

fastyacht

Super Anarchist
12,928
2,597
Randro said:
Doesn't matter what you know or do not. 

Think of it this way, I hope it is simple enough for you.   One cuntry is a basket case, the other is doing quite well thank you.
I know! Those crazy rabbits! O don't know howcyou all manage down there!

 
To fix this title to match the thread content in proper context, the title should read: 

“ INJUSTICE! How the rich are intelligent enough to avoid segregated luxury taxation and how the government makes everyone else pay.”

Please describe luxury and just how do you justify increased taxation on the same basic product to a consumer at a higher level of income and ability to provide economic return to the community and when does the term begin to apply to $100,000 boats today, which would put all of us “rich white guys” into quite a lurch?

I guess that you being a progressive will push for the minimum wage. I always work for my money and an increased minimum wage will kill off most small businesses that actually pay taxes. Of course, you know that and don’t care because it’s the “right” thing to do. Kind of weird to use the word “right” to describe the “left”. Me, I’m an American, plain American.
 

View attachment 438995
Emmanuel Saes is an idiot who thinks rich people should be taxed 90%. Universities are full of idiots like him

Progressives are just hamstringing those that they are supposed to be representing.
As usual.

Look it up yourself.  Study any economics?
Obviously not. But don't you dare explaining Laffer's curve to a progressive.

We pay 20% VAT on boats in France and still have a boat building industry...
Which has absolutely nothing to do with a luxury tax. 

 

Foreverslow

Super Anarchist
Hey, we are pretty much having a civil discussion !! 

Way to go SA !! 

To my more right-sided friends above, I would note several points: 

First, the progressive agenda is wildly popular. The $15, M4A, wealth taxes, GND (Green New Deal) are all supported by a solid majority of USAeans - including a near plurality of Republicans. Lots of cites for this if you question it. 

Second, the progressive agenda is not pie in the sky. It is working in many countries as we speak and write. 
who gives  a shit what new dealers like?  They have nothing but opinions based on clown degrees with no basis in science or economics.

You can bully folks with regulations  on what to pay, but in the end, economics always come into play.  Just takes time. But when it does, it strikes with a vengeance.

You raise minimum wage to $15 and I have 10 people making $12 recurrently in my burger joint, I am going to can 3 people for I a going to make my profit for my time and investment and I cannot just pass increased costs on in a competitive world like the government can as they are a monopoly. 

What do you say to the 3 folks who now make $0 per hour?    I am going to tell them the truth.  I cannot afford them anymore.

I spent 40 years designing computer systems.

When the economy was good, we had lots of work. When the economy is bad we had even more work as we automated jobs so people could  be laid off. Pure ROI of what it cost us to design and operate an automated solution versus ongoing personnel costs.

In a factory setting the owners also have the option of moving the jobs overseas.

You want 15 bucks or better?  Go to school at night and get a degree in designing products or services people will pay for and leave that entry level job.  I do not need to pay 15 bucks to some bun hair twit to make my coffee and hand me a danish just because they are paying for a useless degree just like the UAW learned the hard way GM was could not afford to pay a flunkie $60/hr to toss a spare tire in the trunk of a Cutlass rolling down the assembly line in 1974. Sooner or later it catches up with you.

When the economy slows due to the upcoming tax hikes, there will be hell to be paid and printing funny money is not going to solve it.  Then you kiddies are going to get the dose of reality those of us who suffered from the mid 70s to late 80s lived through.   High inflation and low employment.

The bill is coming due in Canada for Justin's liberal policies (I have a buddy in Ottawa who rages at me every other month on the insanity).  That is going to happen in the states too.  As other have said, these liberal policies have happened before and the results were not good.   Look at the loss of revenue in Conn on the millionaire tax implemented  a couple years ago.  And now NJ is doing the same tax.  There are some stupid shits out there thinking it will work this time my B-I-L included.

Much as it may annoy you, that is reality.  As John Butcher crooned 30 years ago "If wishes were horses, then dreamers would ride"




 

Upp3

Anarchist
718
260
We pay 20% VAT on boats in France and still have a boat building industry...
Don't think it like VAT, think it like all the taxes on top of the VAT on tobacco. I think there has been some change in number of smokers even in France, when you guide people by their wallet..

 

Bristol-Cruiser

Super Anarchist
4,729
1,332
Great Lakes
You raise minimum wage to $15 and I have 10 people making $12 recurrently in my burger joint, I am going to can 3 people for I a going to make my profit for my time and investment and I cannot just pass increased costs on in a competitive world like the government can as they are a monopoly. 

What do you say to the 3 folks who now make $0 per hour?    I am going to tell them the truth.  I cannot afford them anymore.
If you can run your business with seven guys why did you employ ten in the first place? You must be a very generous guy ... or a poor business person. Perhaps if you and everyone else is paying $15 there will be more customers for burgers - the Henry Ford approach.

 
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fastyacht

Super Anarchist
12,928
2,597
If you can run your business with seven guys why did you employ ten in the first place? You must be a very generous guy ... or a poor business person. Perhaps if you and everyone else is paying $15 there will be more customers for burgers - the Henry Ford approach.
Truism in biz. Short term easier and faster to cutvcosts than raise revenue.

Productivity is not fixed.

You let the least effectives go. You increase load on others and presto.

You evrr run a businrss?

 

Panoramix

Super Anarchist
Don't think it like VAT, think it like all the taxes on top of the VAT on tobacco. I think there has been some change in number of smokers even in France, when you guide people by their wallet..
Taxes on Tobacco are working but they are well beyond 20% (about 400% at the moment apparently), when I was a student tobacco tax was probably about  50% and we were all smoking! Revenue from taxes on tobacco started to fall a few years ago, so here you go for tobacco the optimum on the Larfer curve is somewhere around 300-400% (75% of total revenue).

Anyway taxing yachts isn't going to raise much revenue, that might work better : https://www.theguardian.com/business/2021/apr/05/janet-yellen-global-minimum-corporate-tax-rate

EU will collaborate because this will protect them from the UK who's clearly decided to undercut the rest of Europe.

 

sailman

Super Anarchist
8,328
440
Portsmouth, RI
Randro said:
Typical inward looking Yank cunt. 

You asked the question, you got an answer where it is working, not what you wanted was it?
Oooh you called me a cunt.  That's hurtful man.

That wasn't the question asked.  Work on your reading comprehension, it was about US popularity.  Good for you that you have what ever wages in AUS, I still don't care.

 

Sail4beer

Usual suspect
10,060
3,442
Toms River,NJ
UAW learned the hard way GM was could not afford to pay a flunkie $60/hr to toss a spare tire in the trunk of a Cutlass rolling down the assembly line in 1974. Sooner or later it catches up with you.
Like when they tell you that your pension is gone and you retired 3 days earlier. I hope the$60/hour was saved too...

 

Parma

Super Anarchist
2,992
399
here
Hey, we are pretty much having a civil discussion !! 

Way to go SA !! 

To my more right-sided friends above, I would note several points: 

First, the progressive agenda is wildly popular. The $15, M4A, wealth taxes, GND (Green New Deal) are all supported by a solid majority of USAeans - including a near plurality of Republicans. Lots of cites for this if you question it. 

Second, the progressive agenda is not pie in the sky. It is working in many countries as we speak and write. 
I've noticed that you often make up "facts"

 

Zonker

Super Anarchist
9,754
5,723
Canada
Coastal Craft

Eagle Craft / Daigle

Lifetimer

Hurricane / Zodiac

Adrenaline

... all make boats over 250K.  Any new boat over 30 ft long will easily be over that threshold.
ZH and Adrenaline sell most of the their boats as commercial vessels which (I would expect) be exempt. Daigle's bigger boats too. 

But yeah the smaller builders will suffer.

 




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