Tech exec pitches Liberal convention on $500K exit tax for educated Canadians

https://nationalpost.com/opinion/terry-newman-tech-exec-pitches-liberal-convention-on-500k-exit-tax-for-educated-canadians

15 Comments

  1. Ordinary_Narwhal_516 on

    I get the idea of the policy, but it would be massively unfair to count primary and secondary education. They are generally mandatory. For tertiary education I see the argument but I don’t generally support it. However, I think covering medical school tuition for our doctors and converting them to loans if they leave (much like Ontario’s Learn and Stay grant) could help us deal with doctor shortages.

    Worth noting this is a guy who got his degree and went off to the US and now lives in England.

  2. Or, hear me out here, Canadian employers could actually try competing for talent.

    The reason people are leaving is because wages are higher and cost of living is lower elsewhere. Consequently, standard of living gets higher when they leave. That’s it. There is no magic happening here.

    So instead of adjusting salaries to retain talent, we want the government to step in and fine people for leaving? Is this that Small Government these corpos are all so hard for?

  3. This is wrong and illegal on so many levels. Like, direct grants and the like to cover tuition, that’s one thing. You can put conditions on that I guess, especially for high demand and low capacity areas. But to go back and try and charge the hidden costs of public education, going all the way back to kindergarten, is just ridiculous.

  4. Shoddy_Operation_742 on

    This is a non starter. We should just increase our wages to match US wages. Canada needs to encourage entrepreneurship and industry.

  5. This is literally communist country type stuff and for the same reasons because it cost the state money to raise you so you have to stay or “pay” to leave

  6. broadviewstation on

    This is such a dead on arrival idea it’s not even funny not to say immoral and also triggers shades on the iron curtain

  7. Sad part is that those who believe in this party will likely fully support it.

    If this ends up becoming a thing on top of the exit taxes we already face, I think the income tax system needs to be changed so we can pick and choose where our tax money goes. I don’t see the need to pay it forward for education after I’ve paid back into what I used by being here since 2002. I don’t want kids…why should I contribute to others having them and putting them through schooling?

  8. Or we could just incentivize our homegrown talent to actually stay here? But nah the tech CEO who made tons of money in the US market now thinks they should restrict other people’s freedom of movement.

  9. Kristopher9999 on

    Wouldn’t it make more sense to tax the individual for the portion of their education that was subsidized? Anything more than that is a ridiculous notion.

    Leave it to the ultra-rich to presume that a person just finishing their education will have a spare 500K sitting in their chequing account.

  10. Yea. That’ll motivate the youth.

    This is the stupidest fucking idea I’ve ever heard. It would exacerbate Canada’s already stagnate economy and declining productivity. It’s exceptionally undemocratic, illiberal, and short sited.

    Dumbest thing I’ve heard this weekend. And there’s been some doozies.

  11. I have a sibling that moved to Europe when they were 25 after their Masters.

    Does the money my working class parents paid to taxes for those 25 years mean nothing? If you’re going to charge my sibling for those 25 years does that mean my parents get a refund too?

    Does what I’m saying sound absurd? It should, because this proposal is absurd and should be mocked accordingly.

  12. le_troisieme_sexe on

    It’s insane that rich people are fine placing a flat exit tax but throw tantrums when people want to implement capital flight taxes.

  13. And of course the people who didn’t go to heavily subsidized post secondary institutions get their tax money back if they leave?