Tech exec pitches $500k exit tax for educated Canadians(nationalpost.com)
nationalpost.com
Tech exec pitches $500k exit tax for educated Canadians
https://nationalpost.com/opinion/terry-newman-tech-exec-pitches-liberal-convention-on-500k-exit-tax-for-educated-canadians
3 comments
This is probably a good short term fix. Longer term they need to make Canada more attractive to entrepreneurs -- but generally rolling back regulations is very controversial. Europe has essentially destroyed their business sector and not a single thing has been done about this in the last decade (in fact its got even worse): https://x.com/DouglasCarswell/status/1893374276327137367
> Pichette thinks today’s young Canadians should stay put, or cough up $500,000 if they want to leave.
Maybe Canada should fix their high tax problems at the core rather than applying more taxes which would make Canada look like a tax prison in the first place. It did not work in the UK and we know where the entrepreneurs went (US and Dubai).
This is why many researchers and entrepreneurs from Canada leave to work and start their startups in the US instead of staying.
So an exit tax will make it worse.
Maybe Canada should fix their high tax problems at the core rather than applying more taxes which would make Canada look like a tax prison in the first place. It did not work in the UK and we know where the entrepreneurs went (US and Dubai).
This is why many researchers and entrepreneurs from Canada leave to work and start their startups in the US instead of staying.
So an exit tax will make it worse.
What if there was a clause where the tax is forgiven if you arrange for a comparable repayment? I hear there is a country nearby where education is not encouraged and the climate is becoming downright hostile to thoughtful people. Many of them would welcome an invitation to a reasonably sane and safe country.