How to Keep Kawhi Leonard in Canada
Fri, July 05, 2019 | Author: Peter Vogel |
Would you want to sign-on with a Canadian team if you were Kawhi Leonard, or any high-earning professional athlete? Probably not. Why not?
If you were making several million dollars per season over the course of a relatively short career, you would be looking out for your finances. You would be concerned with the tax rate in the state or province you would sign in. With that in mind, you probably would not favour a Canadian team, knowing the taxes you would have to pay.
So, how could we keep superstars like basketball-hero Kawhi Leonard (and other high-earners) in Canada? With CHP’s Fair Tax! This tax system would not penalize people for making money and would cost all Canadians far less in administrative costs, meaning that less tax revenue would be needed.
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If you think that you hate paying income tax, just imagine if you were earning three or five times as much as you are! That is why some millionaires and their companies (not just professional athletes) move down to certain states in the USA or seek offshore tax-havens. The less tax they are paying, the more they can re-invest in their businesses, and the bigger they can grow. When businesses grow, they hire more people, reducing unemployment.
This is the kind of a cycle we want in Canada. Lower taxes, more business opportunities, more jobs.
CHP’s Fair Tax would eliminate the federal Income Tax, Business Tax, GST, and the Capital Gains tax; they would be replaced with a single consumption tax. So yes, you would still pay taxes, but only on things that you consume.
That would mean:
- No more “tax season”; you would just pay as you go and not have to worry about deadlines!
- No more complicated tax-brackets and hiring accountants to figure out exemptions.
- No more “cash jobs” to evade taxes — there would be no need!
Instead of spending evenings and Saturdays going over paperwork for your taxes, you could go out for supper with the money you saved and keep more people employed in your community.
The rate of taxation on the goods and services that you consume would initially be higher than our current GST / HST, but with good management and coordination with the provinces, it could be reduced over time — partly because the Fair Tax would also eliminate the taxes on taxes that we currently pay. And removing these multiple levels of taxation would reduce the price of what you buy. (Remember, your paycheque has not been touched; NO deductions for income tax! You take home everything you’ve earned.)
The Fair Tax would not tax the sale of unfinished goods; for instance, if you had a bakery and bought flour, you would not pay tax on the flour. That is an input cost. Otherwise the customer would be paying tax on the bread they bought, plus the flour that went into it. The customer should pay only a single tax on the finished product.
Will the Fair Tax help people who are not making as much money as Kawhi Leonard? Yes, because it would also take away the tax on used goods! That would include major items like cars and also smaller purchases; thrift-store purchases would be completely tax-free!
In case you think that this is far-fetched, remember that Canada had no Income Tax until after the First World War when it was introduced as a “temporary measure”. Well, it has been temporary long enough!
It is time for greater economic freedom with CHP’s Fair Tax! For more information on CHP’s policies, go to CHP.ca. Take a stand for freedom and prosperity by becoming a member. If you are already a member, help us spread the word about the CHP’s plan to eliminate the income tax!
Other Commentary by Peter Vogel:
- Unplanned — Now “Unbanned”!
- How to Keep Kawhi Leonard in Canada
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- Canada — the “Friend with a pickup-truck”
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- Changes to Justice
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- Once in Canada, Always a Canadian?
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