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Re:Canada to ban foreigners from buying homes by Spivak on Thursday April 07, 2022 @12:40PM (#30946918)
Weird, I know the left likes to blame the rich, but I’ve never seen specifically rich foreigners.

Also for real how can the voters (ie the average citizen) be the problem? The average citizen has no money and no political or regulatory power. The average citizen just exists in a system they have no control over and responds to incentives. Hoping that en mass people won’t do that is like politely asking a river to move.

Re:Canada to ban foreigners from buying homes by giobox on Thursday April 07, 2022 @12:59PM (#30947228)
Attacking rich foreigners for not paying enough <insert tax or contribution> to their adopted homes is fairly common throughout the world, no? America does make it harder to avoid paying tax with a system that taxes income regardless of which country you earned it in, but most of the rest of the world does not work this way.

To use the UK as an example, attacking rich foreigners for their "non-domiciled" tax status is extremely common. This is where you live in the UK, but for tax purposes hide your wealth in another system with lower tax rates, effectively paying no income taxes at all in the UK. Variations of this concept exist throughout the world in many countries and routinely draw politically ire.

Just this week: https://www.bbc.com/news/uk-politics-61017993

Wealth coupled with a collection of passports often creates far more opportunities to avoid tax than being stuck under the rules of one single State, rightly or wrongly.

Re:Canada to ban foreigners from buying homes by seanmcdirmid on Thursday April 07, 2022 @01:52PM (#30948001)
But at least in the USA, the left treats the rich pretty uniformly (no distinction is made between rich born-here citizen, rich citizen immigrant, or rich foreigner). Many don't even know Elon Musk was born in South Africa, nor do they really care.

Tax evasion is seen as a moral problem no matter how you accomplish (so hiding it with your other citizenship is just as bad as using a shell company).

Re:Canada to ban foreigners from buying homes by Dracophoenix on Friday April 08, 2022 @11:00AM (#30957845)
>Tax evasion is seen as a moral problem no matter how you accomplish (so hiding it with your other citizenship is just as bad as using a shell company).

Tax evasion is a legal term, not a moral one. Tax evasion isn't a problem in USA given that it has the highest compliance rate in the world. Jurisdictional arbitrage is a freedom and should be protected as such.

Re:Canada to ban foreigners from buying homes by ipaddr on Thursday April 07, 2022 @02:50PM (#30948769)
People were being taxed 90% income tax when this shift happened in the 70s.
Re:Canada to ban foreigners from buying homes by tqi on Thursday April 07, 2022 @03:48PM (#30949526)
Well for housing in particular, average voters are the ones supporting restrictive zoning and stalling new housing.

While I agree that getting people to change their mind is pretty hopeless, I dislike the framing that they are just "responding to incentives" and therefore not only off the hook for the shitty outcomes of their choices, but also not responsible for the choices themselves.

Re:Canada to ban foreigners from buying homes by bin_bash on Thursday April 07, 2022 @12:58PM (#30947218)
Re:Canada to ban foreigners from buying homes by johndfsgdgdfg on Thursday April 07, 2022 @02:17PM (#30948342)
This is refreshing to see a left wing media writing on China. After COVID I pretty much lost trust in left wing media when it comes to China.
Re:Canada to ban foreigners from buying homes by balaji1 on Thursday April 07, 2022 @01:41PM (#30947856)
it is a good observation, I think you mean most immigrants are not rich. If you didn't mean immigrants, immigrants are not rich until 10+ years later. Definitely don't spend like the rich. But they are willing to commit years to buy into real-estate.

> The foreign-buyer ban won’t apply to students, foreign workers or foreign citizens who are permanent residents of Canada, the person said.

The article says some of those foreigners will be exempt. I will say this, the country needs the immigrants' money (ie spend in that country, on top of taxes paid)