MAGS 🔑⛏️🚒(@Crypto_Mags):'The problem with socialism is that you eventually run out of other people's money' The BC NDP are about to bring in one of the world's highest tax rates Where will the money come from when the wealth leaves like in California and France? Once they're gone, they won't return

2026.10.05 17:51

'The problem with socialism is that you eventually run out of other people's money' The BC NDP are about to bring in one of the world's highest tax rates Where will the money come from when the wealth leaves like in California and France? Once they're gone, they won't return

Kim G C Moody@KimGCMoody

2026.10.05 01:31

UPDATE: We now have the rate details. And this is much broader than the “millionaires’ tax” initially advertised. The proposed B.C. provincial rates would increase: • 16.8% → 18.8% on taxable income from $190,405 to $265,545 • 20.5% → 22.5% from $265,545 to $1 million • A new 24.5% rate above $1 million That means the combined federal/B.C. top marginal rate would become an astonishing 57.5%. And notice where the tax increases actually begin: roughly $190,000, not $1 million. So much for simply asking “millionaires” to pitch in a little more. I’ll have much more to say about this.