this post was submitted on 02 Jul 2025
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[–] ininewcrow@lemmy.ca 71 points 2 days ago (21 children)

Millionaires with a few million dollars aren't the problem

The biggest problems are the handful of billionaires and the billionaires that are not Canadian but have a strangle hold on companies or corporations that affect Canada.

If the government could just tax the ever loving shit out of billionaires, they'd remove the single root cause of a lot of problems in the country and actually allow some sort of competition in all industries. This would allow the economy to spread the wealth to more Canadians than to a bunch of non-aligned billionaires who could care less what country they are attached to because their wealth is so great, they are basically their own country at this point.

Millionaires aren't the problem .... Billionaires are

[–] BestBouclettes@jlai.lu 32 points 2 days ago (2 children)

They're part of the problem, but you can become a millionaire ethically, not a billionaire.

[–] Lemmyoutofhere@lemmy.ca 27 points 2 days ago (1 children)

Being a millionaire these days is pretty normal. Need a lot more than that to retire if you don’t have a pension plan.

[–] ILikeBoobies@lemmy.ca 29 points 2 days ago* (last edited 1 day ago) (2 children)

The person with 100 million is closer in wealth to the homeless person you pity than they are to a billionaire.

It’s an unimaginable amount of money

[–] Revan343@lemmy.ca 16 points 1 day ago

The quote I like is "The difference between a million dollars and a billion dollars is about a billion dollars."

[–] ininewcrow@lemmy.ca 5 points 1 day ago (1 children)

Now that's putting it into perspective ... holy shit

[–] TheBat@lemmy.world 11 points 1 day ago (1 children)

A million seconds is approximately 11.5 days.

A billion seconds is approximately 31.7 years.

[–] ininewcrow@lemmy.ca 2 points 1 day ago

That is another better perspective ..... and also why again do we have a civilization that allows someone to own so much wealth that it is not feasible or even possible for them to enjoy all the money in one lifetime?

Holy shit this perspective is enlightening ... and also very depressing ... thanks

[–] phoenixz@lemmy.ca 3 points 1 day ago

I think that oversimplifies the issue.

I have no problem with a millionaire that has a net worth of, say 3 million

I have a problem with someone having a net worth of 30 million

I have a huge problem with someone being worth 300 million

All are millionaires

[–] Grandwolf319@sh.itjust.works 10 points 2 days ago

That’s an excellent point.

We need to shift the conversation from government taxing its citizens to shielding them from international economic forces.

[–] phoenixz@lemmy.ca 2 points 1 day ago

Nobody should have a net worth over, say, 10 million.

20 is okay ish, I suppose, but beyond that it's just not fair or normal

You have 100 million dollars?

You didn't get it through hard work, or the McDonald's burger flipper who also cleans houses on the side would have been a billionaire by now

You didn't get it by being intelligent or smart or scientists would all be rich

You did it through playing the system as it currently exists, and you were lucky

Nobody should have the right to have that much money. Not even half of that.

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[–] UnderpantsWeevil@lemmy.world 24 points 2 days ago (1 children)

Warren Buffet and Bill Gates did this joke already.

Write an Op-Ed about how they aren't taxed heavily enough. Then spending millions to prop up conservative political campaigns dedicated to cutting taxes.

Quit buying this horseshit. You'll know a millionaire is lying when their lips are moving.

Not only that but Buffet and Gates are likely itemizing and taking advantage of every tax credit and deduction.

No law requires that. They can file a normal tax return and take no deductions.

Instead of living off of capital gains, they can pay themselves a salary.

Fucking billionaires are killing us.

[–] Showroom7561@lemmy.ca 16 points 2 days ago (3 children)

Wealth hoarders are the problem. Millionaires aren't wealth hoarders, and any multi-income home that lives a frugal lifestyle can become millionaires before they retire (and they'll need to, if they don't plan on working into their 80s).

But there should be no such thing is a billionaire, let alone, a billionaire with HUNDREDS OF BILLIONS of hoarded wealth.

Sure, we can tax them more (and should!), but we should also design a system where wealth hoarding isn't incentivized. It should be actively discouraged, and punished at a certain point.

[–] karlhungus@lemmy.ca 1 points 1 day ago (3 children)

I hear you, and i agree. I don't understand how to achieve it though, a tax on net worth, with brackets starting at 100 million? Wouldn't they just move their money over a place that would hide it?

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[–] KindnessIsPunk@lemmy.ca 15 points 2 days ago

Tax the rich, relentlessly push bikes and public transport, regulate big business, this is the only way we survive.

When McClean is running a piece to tax the rich you know that shit is near the fan

[–] theacharnian@lemmy.ca 3 points 1 day ago

Hey NDP, enough with the incremental respectability politics. Give us what Mamdani is cooking.

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