Anything over 50 per cent tax is confiscation: Pierre Lassonde
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- Опубликовано: 15 апр 2024
- Pierre Lassonde, Chair Emeritus of Franco-Nevada Mining, joins BNN Bloomberg to discuss clean energy in the government's latest budget. Lassonde says the missing piece of the budget is increasing productivity in Canada, and sheds light on the path forward for Canada's mining sector.
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In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I checked Melissa up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
This governments spending is absurd. Can’t wait to vote against these clowns.
keep dreaming. lol
@@JJJohnson441 for an election?
Trudon't!
NDP and libs need to separate. NON CONFIDENCE VOTE now!!
Nobody know what King Pierre would do. “Axe the tax” is a gimmick that even a parrot can say. It is NOTHING. HOW would he increase the housing stock? Nobody knows. Look at his record as an MP: he has done NOTHING
Get these incompetent people kinds out of the office
The worst part are the ignorant people that voted Liberals for the last 8 years who voted "Liberal" because they love the idea of getting free things. Coincidentally there are also the people that don't pay net tax and are more like net benefit receivers of government largesse and waste.
Bitter truth said. We are pushing entrepreneurs and hard working skill workers out to U.S as they get better reward for the work south of the border.
Just disgusting the amount of taxes we pay in this country, and what the common peasant gets back. The only news or announcement the majority of Canadians want is an election, the drama class teacher has destroyed the country enough.
Everything boils down to, Trudeau must go.
He right. Nobody is even attempting any new natural resources projects. Bill c69 for example AKA the no more pipelines act. Lets get back to developing our resources.
Cut spending, cut tax and cut Truedope.
So under 50% isn’t theft or confiscation 😂 government bloat and waste at its finest in 🇨🇦
Unpopular opinion: anything over 0% is theft and confiscation
Most of people who leave Canada are wealthy people.
“Stop spending!”
“Yeah…”
Anything over 10% to the big guy is confiscation.
This will tank economy
Did you know that World Economic Forum Great Reset Agenda success, first requires Canada and the USA "to become weaker domestically, and on the World stage"? 100% true, and definitely not a coincidence.
Did you know that Finance Minister Freeland has held a seat at the World Economic Forum board of directors table in Geneva since 2019? How that glaring public record conflict of interest fact never gets challenged in Parliament, and never gets mentioned anywhere in the Canadian Press for 5 years and (still) counting, should disturb all of us.
Inflation is just taxation without representation. Government is just loving high prices on everything.
Looks like Freeland probably never read about the Laffer Curve. But I'm sure she knows about the Luftwaffe
It's always about more tax. Need to cut spend!
IF CANADIAN PENSION FUNDS KNOW THAT ITS NOT PRODUCTIVE TO INVEST IN CANADA WHY CANADA FORCE US TO INVEST HERE. SHAME OF THESE POLITICIANS !!!!
You aren't allowed to criticize the unions who invest 96% outside canada!
The government should say if the rich are moving out , than there is a "Leave Canada Tax, 50% of your savings for every 10 years you lived in Canada,.... Simple
Your voting liberal I take it?
you are out of your mind.
@@SamueleLangeli Projecting, I see. The ultra rich already moved their money into Swiss accounts long before this because of Canada's taxes, silly Billy.
I’m a liberal, however, I practice balancing my personal budget, investing in myself for real returns in income growth, and invest almost all my savings in Canada. However this government is simply out of touch with reality. Naïveté is an understatement. Where is the strategy to grow our economy, to improve our future for jobs and provide for our needs in to the future. Nothing.
Admitting you're a liberal is gonna be fighting words over the next few years. I'd keep that to your self
Sounds like your a conservative than anything else. Think about that.
It's the trudope cabal that is out of touch.
They are bankrupting our country.
Capital growth (equity) is what every small business owner has put at risk in building their business. It is not the same as receiving a risk-free income. That's why only 50% is taxed upon sale - recognising that the equity is risky and can go to $0.00. Increasing the inclusion rate is not only regressive but RETROACTIVE to all capital growth accumulated over the last 23 years. Nothing short of theft of small business owner retirement funds.
Very well said Pierre. Con-fiscal-tion! You make me proud to own Franco-Nevada shares.
when you steal peoples bank accounts because they honked horns at you theft by taxation is just routine.
No! Currently, only 50% of capital gains count as taxable income. If you pay 30% as a marginal tax rate, then you are really only paying 15% on overall capital gains.
Yes. Productivity should be one of 3 national projects, incl health care and housing
jeez, tax fraud has become a moral duty now, huh?
the problem of this country honestly isn't the amount of taxes. it's the inefficiency in the way it's spent.
Well said Mr Lassonde
This guy should be Canadian PM
Yes right only rich tax bracket is confiscation. What about middle class who is our voice?
53% income tax for the top bracket in NS
Great comments!
Canadians celebrated tax freedom day on June 19, 2023... almost 50%.
Look how far we've come. So it's now acceptable to take 50% of what we earn but anything over that is confiscation? It's all confiscation.
will they reveal GDP numbers?
the manipulated ones maybe lol
@@rhetorical1488 ?
As a rich person this capital gains tax hike will simply make me find more ways to hide my money. After I open an investment account in Ireland I’ll actually be paying less tax.
I don't blame you at all. Who in their right mind, would want to give more money to imbecile trudope!
Confistication comes in much lower than 50 percent.
Excellent report,we need more people with common sense in government. It's not like the liberal party currently in power
Reasonably wealthy or reasonably greedy. And maybe if these greedy people leave the country, the haemorrhaging stops and people have more money in their pockets because let’s face it the ones leaving the country are probably very greedy. They need all the money and nobody else can have any I have no problems with these people leaving the country. Maybe it leaves enough money for the rest of us to be distributed you know money is supposed to circulate not end up in just one person’s pockets. Did you ever think of that
NoN Confidence VOTE 🗳.
Lets get an Election
Couldn't say it better
Resource extraction will not save us unless we're doing it for the right reasons. Canada needs to invest in sustainability rather than more reaource exploitation. Canada needs to fundamentally change our economy from am economy based on exploitation to one based on collaboration.
Taxman by the Beatles seems to fit what Canada has turned into
There were positive aspects of the French Revolution.
2.4B AI slush fund
We're so fucked lol.
Why wait to vote
Do something everyone
We need to build 5 million homes in C6 years. If we can manage to do that you will have your productivity think about it but in order to do that you’re going to have to make the NIMBYs understand that there is concessions to make.
And your comment dollar being at $.72 yeah it’s been up once or twice over 105 but historically check the graph we’ve always been between 70 and $.80 on average so don’t give me this BS all cry cry cry the dollars at $.72. You’re just fear mongering. And if you’re expecting to be the bad part with the US when we’re 40 million versus 400 million yeah really calm down take a pill.
The most effective social program is the one that promotes a business environment that results in more sustainable good paying jobs.
Our politicians and many media commentators don’t get it.
It’s important to consider the entrepreneur who swings for the bleachers but what about the small business person who takes a business risk
and builds an operation that supports Canadian workers with good wages and steady work? They are the ones Trudeau targets in this budget. He isn’t hurting the ulta rich! He’s screwing the bright, diligent, and committed successful small busines people who generate most of the economic wealth in Canada.
This trust baby and his socialist acolytes are busy ruining the foundations on which Canada was built. Lamentably, he follows in the footsteps of his late and not-so-great irresponsible father. The apple has not fallen far from the tree. He busily redistributes a shrinking pie instead of allowing more pies to be made.
Until his people are driven from office and replaced by a responsible government, Canada will not prosper. Our national wealth will remain on a downward trajectory.
This government has been doing such a great job. They are going to make things even better now😂
1 million a year eh, doubling the numbers doesn’t help your case
Productivity is code for exploitation, especially with AI. We need to create jobs, not replace them with robots!
I think a billionaire has a self interest in opposing a personal wealth tax. Mr Lassonde has made his $Bs outside Canada, although lives and does his philanthropy here. Like the CPP does to get the returns the US, the strongest economy in world, offers. Most investors that. Also personal and corporate taxes are lower in Canada than in the US. Billionaires could follow the example of Mr Musk and not take a large compensation, own multiple McMansions or a bevy of Yachts.
Thats not who pays these taxes. All his money is in the states. 😂 He will just stop buying goods in Canada 🇨🇦
This just increases imports and tax havens.... Trudeau is a drama teacher...it shows
So... 49.9% is ok then !
Everyone seems to want to have their cake and eat it, too. Live in a functioning society with all the perks but not pay for it. Learn some history.
The rich keep getting richer and paying less and less tax and the inequality is getting higher and higher. Every country needs to come into agreement and raise taxes on the rich. That way their argument that they will leave the country will stop. They are the reason assets are getting more expensive and services are getting worse over time. Enough is enough.
Inflation and taxes hit harder when you’re poor. Wealthy people end up with higher valuations, poor end up with higher bills. Less taxes and less spending helps the poor become wealthy. Big government keeps everyone poor
That is not a viable solution. Plenty of countries did that to their own detriment including France and the UK.
the inclusion rate is not the same as tax rate. is bnn incompetent?
😂
No they are not incompetent, they just take the side of the rich and corporations and to hell with the working class.
The liberal proposal isn't a tax above 50%. It's increasing the inclusion rate so that 75% of the gain above $250k is included in your taxable income, rather than 50%. Pierre is a moron if he doesn't understand this.
Corporations are the reason the average person can barely afford to pay any tax. If you contribute to that and are profiting millions or billions off it, you can afford to pay over 50% tax. Blows my mind how these narratives take off when less than 1% of Canadians pay a 50% real tax rate on their income. I am from a wealthy family who happily pay tax and advocate for parties that want more on the wealthy. Because we see what is happening around us, society is crumbling in the US and Canada with 40 years of neoliberalism and trickle down economics failing. Us taking 500,000 of a million is fine, well survive. I'd rather that than what's happening in the US where the rich pay next to nothing and the burden is falling on people who can't afford it and consequently their cities are collapsing. The fact of the matter is, you need taxation for a functioning society because business does not properly fulfill a lot of sectors and in order to stop wealth gaps from getting out of control and widespread poverty and misery, the rich need to pay a larger burden of that tax. It's hilarious how the wealthy convince the average normie that it's a crime to tax them more, yet, if they lose, they also convince you those losses should be socialized through tax write offs on investment losses and public funding for factories etc.They've convinced you that its right that we don't pay for your losses but you subsidize ours. I urge anyone reading this to think about that. The conservative party is a party of pathological liars who do not have your best interest at heart unless you own 1M plus in REITs and other investment vehicles.
I see your point but the reality is that most rich people will invest where it's easy and taxes are low enough that it's worth risking their original investment for profit. So there has to be a balance. We do need investment in Canada.
@@behonestwithyourself3718 I agreed the whole world is fucked, for this to work properly, we would need the world to get on the same page. Because you're right, if Canada does the right thing and the US isn't, every rich person will just pick up and leave because contrary to popular belief, rich people are generally also really dumb and have no foresight. I'm not sure what the actual solution is, but it's not what the liberals or conservatives are doing
I’m not wealthy and I pay way too much tax. You must be a Liberal bot with what you spewed. This country is overtaxed and the government incompetence and corruption is what needs to be addressed!the Liberals are a disaster and disgrace!
Rather than giving $500k to the dumb bureaucrats, you can invest it yourself. Much better for society. No waste
they finally went after the Chinese with all their secondary properties.
😲Are you telling me the CEO of a mining company wants the government to spend a bunch of money on supporting miners as his number one "solution" to productivity? I'm shocked 🤯
Corporations, mining or otherwise, are always quick to look for and request subsidies. I think David Lewis had a term for this; Corporate Welfare Bums. And our politicians go along with this.
Stop spending and get rid of red tape. You sound exactly like the other Pierre, Pierre!!!
Yes. Anything over 50% capital gains is THEFT!
Tax capital gains for selling ALL housings, this is the only WAY to bring down housing price!
American private investment funds can’t wait to buy out all available housing stock.
Then you will see how fast the rent will be increasing.
Pure communism. Oottajwa stealingk wealjth and hoarding it the the capital. Do thkik ainy corporation would invest in Canada. Literally the hunger games 🎯
TAX REVOLT NOW!
Great idea to invest in energy and mining in Canada, but CPP invests is a WEF member and cannot invest in fossil fuel economy. That’s why they’re so loaded in real estate and services companies! PATHETIC and dangerous as that is !
Too bad Junkmeet doesn't grow a pair and vote against the budget. He won't. His master won't allow it!
I hope when we do have an election the NDP loses most of their seats.
It's he NDP is now the New Liberal Party!
That guy is too busy worrying about his pension, trying to make India out to be a bogeyman and sympathizing with terrorists to care about Canadians.
No, I agree. The pension funds should be laws that they need to reinvest in this country. But then again, there should be laws that the people that built these investment funds should get their money back, and we all know that pension funds are good at robbing the pensioners of their money.
This guy sounds like a corporate shill
Soo much tax payers money for housing? Is canada becoming UCSR (Union of Canadas Socialist Republics)??
I love how 66% inclusion rate for income and 33% tax free is stealing when every other Canadian pays tax on 100% of income
PP has bamboozled a few, but they are paying attention to what PP DOESN'T SAY as much as what he does say, which is bad enough!
PP doubled home prices (triple in some markets) in his 9-year run and never mentions the massive profits being gathered in by BIG OIL and MASSIVE GROCERS!
Could it be that little PP is no better than Justin? Of course it is...