KenC

71 posts

KenC

KenC

@kencu_web

가입일 Temmuz 2025
7 팔로잉12 팔로워
KenC
KenC@kencu_web·
No taxes in America? Uncle Sam lets you keep offshore income without declaring it? You can relinquish citizenship and leave the US no strings attached, skipping away paying no taxes? Aren’t you lucky! All BS. Those bruises on your chest from thumping it so much should be starting to hurt about now…
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Jovak Njokovic
Jovak Njokovic@Jnjokovic·
@kencu_web @GadSaad Yeah, because he owes people something simply for being alive and creating value. This is why America dominates and you ride our coattails.
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Gad Saad
Gad Saad@GadSaad·
I’m unable to deal with the theft of much of my accrued book royalties and other creative endeavours. I’ve worked night and day for decades; nearly all of my money was generated outside of Canada, yet the provincial and federal governments felt that they are owed more than 55% of my earnings even though my taxes on my professorial salary is already more than what most Canadians pay in taxes. It is a criminal exercise bereft of fairness or morality. I hold out hope that I will somehow be granted financial cosmic justice.
Viva Frei@thevivafrei

Professor Gad Saad Discovers Canada's "Exit Tax" and It's CRIPPLING! Former Lawyer Explains

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KenC
KenC@kencu_web·
@itsskitime @GadSaad I didn't say it was fair, I said I think most people would find it fair. And that is why it is the current law.
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Gad Saad
Gad Saad@GadSaad·
One more thought about parasitic taxation and I'll head off for some exercising. What should be the maximal ceiling of your yearly income that the governments should be able to take? Is it 50%? 60%? 70%? 80%? 95%? What is the philosophical, moral, and ethical precept that guides your response? For example, if you were to say that a government must create equal wealth distribution across all citizens then the government could conceivably take 99.99% of a a very wealthy person's income to achieve that objective. So in your view, how much of your earnings does a government have a right to in a free society? I'm being genuine here. You don't need to insult me, attack me, etc. I'm interested in your responses.
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KenC
KenC@kencu_web·
@AlbertaMatt @GadSaad Delusional about supporting the Alberta oil patch? I'm a significant investor in it. Delusional about ignoring the environment? I spend much of my life outdoors, and have children. Delusional about engaging in discourse with random dudes named "Moose" on X? Got me there.
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KenC
KenC@kencu_web·
@Odourboy1 @Kurtis_Hastings @GadSaad It's copy/pasted directly out of the answer from Google. I did ask Google to show the top rate. It's slightly lower at lesser income levels. For $500,000 income, 48.226% in New York City, or 44.35% elsewhere in New York State. Don't forget to add in health care 😄😂🤣
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KenC
KenC@kencu_web·
@Maurozky1 @StealYourDeacon @GadSaad Why would you think you should enjoy years of capital gains in Canada, and never pay Canada any of it? That seems irrational. There is no spectre of double taxation to invoke here. Tax payment to Canada can be deferred until time of sale of asset.
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Mauro Zaffalon
Mauro Zaffalon@Maurozky1·
@kencu_web @StealYourDeacon @GadSaad I think that if you dispose of your property you should pay capital gains taxes, wherever you happen to live at the time you sell. I think government shouldn’t pretend you sold just to charge you in advance, especially if there’s potential issues of double taxation.
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KenC
KenC@kencu_web·
@Maurozky1 @StealYourDeacon @GadSaad You want to change taxation? Get people to ask for less free shit, find people to elect who support your agenda, get them elected, then change policy. That is democracy. Not your chest pounding nonsense.
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Mauro Zaffalon
Mauro Zaffalon@Maurozky1·
@kencu_web @StealYourDeacon @GadSaad I did, so do most people that are not blindly going along with it and object to it. The question is how much do you like the government to have control over everything you do and earn. We know where you stand.
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KenC
KenC@kencu_web·
@Maurozky1 @StealYourDeacon @GadSaad BS. The question is, after a democratic process where people vote on priorities and decide on taxation levels for necessary services, how is that you feel outside this process and able to invent your own plan to suit yourself. We know where you stand.
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KenC
KenC@kencu_web·
@Tyler2ONeil Except: "The Canadian departure (exit) tax can be deferred. Taxpayers can elect to postpone payment without accruing interest until the assets are actually sold or otherwise disposed of."
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Tyler O'Neil
Tyler O'Neil@Tyler2ONeil·
This policy is downstream of a few misconceptions about wealth: A lot of wealth is real, but not liquid. If you tax this wealth, you run the risk of demanding cash from someone who cannot immediately pay it. This causes real hardship. When you effectively confiscate wealth, that has downstream negative effects. Not only does it drive people away from your country, it also leads them to disinvest when they need to make assets liquid in order to pay your taxes. This sends a signal that if you want to become wealthy, you should leave Canada BEFORE trying to make money. Even if Canada benefits concretely in the short term from this policy, it may weaken Canada’s economy going forward. Also, if you think this policy is outrageous, remember that when elections come along. “Democratic Socialism” is growing on the Left.
Gad Saad@GadSaad

Following a very difficult meeting with my accountant, I just found out how much it is going to cost me in terms of an "exit tax" to leave Quebec and Canada. No human being in a free society should have their hard-earned money stolen in this manner. I'm genuinely numb. I'm speechless.

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KenC
KenC@kencu_web·
@AlbertaMatt @GadSaad Good-hearted people who care deeply about the planet are resigning from government in protest of that, but still -- no choice. When your country is under attack, you have to make difficult choices. Democracy is a series of zigzags towards the best possible course forward.
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KenC
KenC@kencu_web·
@AlbertaMatt @GadSaad You had your say, and you're having it now. The back-east and west coast environmentalists, all of whom have the best health for the world in mind, have heard from Carney that during this existential attack on Canada from the US, they have to put environmentalism aside for now.
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KenC
KenC@kencu_web·
@tlberg86 @GadSaad Government negotiates and sets tax policy based on the overall will of the people. You want to change it? Convince people to want less free shit, elect people who support that position, and change policy.
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TLBERG86
TLBERG86@tlberg86·
@kencu_web @GadSaad Then its criminal when they do it do, im not signaling any one entity out, its all fucked. Taxing people on the make believe value of an asset is fucking retarded. Anything can happen in market conditions, values change constantly. It's robbery and its govnmt overeach pln n smpl.
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KenC
KenC@kencu_web·
@tlberg86 @GadSaad you may think that is clever trickery, but shit like that is what changes overall tax policy towards things nobody wants to see, like the yearly realization of holdings that has been passed in the Netherlands. FAFO. 2/
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KenC
KenC@kencu_web·
@tlberg86 @GadSaad Worse, perhaps, is when people see a big run up in the value of a holding, and they want to buy something like a yacht. But rather than sell some of their holding and pay the tax, they borrow against it and write off the loan interest instead. No tax paid. 1/
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KenC
KenC@kencu_web·
@Methhoar @GadSaad If you mean "most people would find that is a fair rate" then no, I'm not kidding. Now I am not a polling company, so I haven't polled it out. But I do believe that most people (eg those not on X all day long) would say that is a reasonable rate of tax for cap gains.
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KenC
KenC@kencu_web·
@Kurtis_Hastings @GadSaad Quebec income taxes were described in a separate post. They are for all intents and purposes identical to "blue state" USA, eg New York state. We also have provincial sales tax (except Alberta), and, an additional "Goods and Services Tax". That last one was a tough sell, TBH.
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KenC
KenC@kencu_web·
@FunOfInvesting What would you suggest is a fair way to treat people who have substantial capital gains and plan to leave the country with them? Just let anyone who wants to do that be on their way, tax-free? Really?
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Tevis
Tevis@FunOfInvesting·
The amount of people virtue signaling to blindly defend the idea of an exit tax from a moral perspective is not only staggering; it’s also the fundamental reason why Canada is in a state where it needs an exit tax in the first place to suppress the brain drain growing every year.
Gad Saad@GadSaad

In a sane world, governments exist to improve the lives of people (at a minimum). The worst incidents of my life all stem from the provincial and federal governments repeatedly punishing me financially for being successful in ways that make you feel trapped in a Kafkaesque prison of despair. I realize that many Canadians benefit from the system, and hence will exhibit zero empathy but in a just world, this reality should not be tolerated. It can't be that a government owns 65%+ of all of your worth once all taxes are added up. Send me good vibes. Going through a very difficult time.

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탐색

@GadSaad @itsskitime @Odourboy1 @Kurtis_Hastings @AlbertaMatt @Maurozky1 @StealYourDeacon @Tyler2ONeil