Chinese Economics Thread

Bellum_Romanum

Bellum_Romanum

Brigadier
Registered Member
FairAndUnbiased said:
If they believe that they can remain rich while never dealing with China again and if they can move assets without massive losses, sure.

Very interesting that you believe the rich are genetic instead of being created by circumstance.
Click to expand...
He's a JAI HIND fella, you should have expected such farcical views on wealth and wealth creation.
 
doggydogdo

doggydogdo

Junior Member
Registered Member
SinoSoldier said:
So, instead of moving some of their money offshore, wealthy citizens (you know, the ones who actually contribute to the economy) now have the incentive to close up shop and move themselves and the entirety of their assets overseas.

Congratulations, that is exactly how you have an exodus of 1.2 million affluent citizens underway.
Click to expand...
If you can move away on a whim, you probably don't contribute anything to the economy lmao.
 
S

supersnoop

Major
Registered Member
ficker22 said:
Tells alot about OP heritage & true home country
Click to expand...
Not sure if it says anything about either, except I'm pretty sure he doesn't come from Canada.

Basically just typical "right-wing" type thinking where as someone mentioned, the rich are deified.
Because they are good businessmen (or happen to be lucky), then minimal/no taxes should apply to their "hard work".

If he lived in Canada, he would know that Canada is doing the best it can to tax these kinds of people too.
Extra luxury tax on cars (taxing hard work to afford my sports car)
Empty home tax (taxing hard work to be able to afford housing that I don't need to live in for more than 180 days/year)
Foreign property buyers tax (was actually basically a racist tax aimed at these hard working Chinese millionaires who are blamed for inflating property prices and creating a property bubble)
Additional capital gains tax (taxing hard work into investments)

I'm not sure how rich people can afford to live in Canada to be honest...
 
Xiongmao

Xiongmao

Junior Member
Registered Member
FairAndUnbiased said:
If they believe that they can remain rich while never dealing with China again and if they can move assets without massive losses, sure.

Very interesting that you believe the rich are genetic instead of being created by circumstance.
Click to expand...
Also, just being wealthy doesn't automatically mean they contribute a lot to the economy. It depends what they do with their wealth. Someone who hoards billions in treasuries contributes less than someone who is rich but spends a lot of it back into the real economy.
 
S

supersnoop

Major
Registered Member
I also just was reminded by an article I just read, going after overseas/hidden assets is exactly what all national tax agencies do!
In Canada, you are supposed to report your worldwide income, if you don't, guess what? You are breaking the law!

There is also the most famous case of the IRS crushing the famous Swiss banking secrecy after UBS folded like origami which enabled them to go after 20b in assets. Now most recently they also went Banque Pictet which netted another 5.6b.

I guess we need to prepare for an exodus of super wealthy Americans!
 
You must log in or register to reply here.
Top