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>Your home in Canada just recently demanded blind trusts all report their members personal information to the government. Far from engaging only the rich, that

>Your home in Canada just recently demanded blind trusts all report their members personal information to the government. Far from engaging only the rich, that demand hit millions of every day citizens with shared bank accounts with their parents or kids. Those are setup for a variety of reasons, one of which is to circumvent probate tax! Yep, by everyday non-rich people! How does this hurt anyone though? That is not clear at all. The thing you're upset about here is that blind trust members information is reported to the government, but with no clear statement how this hurts anyone, wealthy or not. Chances are, the information turned over the government has anyway. If this is a legal mechanism to circumvent probate taxes, then its not a problem. If not, well, even regular people should pay their taxes, no?

Sleepful 3y ago
> even regular people should pay their taxes, no? Taxes aren't an ethical or moral topic, they are a legal topic. If you can avoid a tax through some legal structure, you are within your rights to do so and you can't judge this as some sort of shady business. Taxes are mostly used to create incentives and collect money, if people are allowed a legal structure to avoid a probate tax, then that might be an incentive on purpose. Just because you did something to pay less taxes does not mean that you are some bad actor exploiting a loophole. For example, taxes are only paid on profit, so companies are incentivized to spend their money and pay less in taxes. No one sees this as a legal loophole that needs to be fixed, it is very much intentional. Also you are making the false dichotomy here of "regular people" as something different from "somewhat versed in financial entities people". That's weird.
- Mashimo 3y ago
  > If you can avoid a tax through some legal structure, you are within your rights to do so and you can't judge this as some sort of shady business. Sure you can. Legal tax avoidance gets judged all the time. See the Jimmy Carr tax "scandal" that was legal, and yet he received public pushback.
IG_Semmelweiss 3y ago
>>> How does this hurt anyone though? That is not clear at all. Allow me to make it clear. https://www.smithsonianmag.com/history/1938-nazi-law-forced-jews-register-their-wealthmaking-it-easier-steal-180968894/ https://www.smithsonianmag.com/history/1938-nazi-law-forced-...
- no_wizard 3y ago
  they already collect enough information that if the goal was to seize wealth they could easily do so, even before this change. I don’t see how this change makes that more imminent. If someone wants to argue you shouldn’t have to register things with the government I’m all ears but it is no way comparable to what the Nazis did.

Sleepful 3y ago

> even regular people should pay their taxes, no? Taxes aren't an ethical or moral topic, they are a legal topic. If you can avoid a tax through some legal structure, you are within your rights to do so and you can't judge this as some sort of shady business. Taxes are mostly used to create incentives and collect money, if people are allowed a legal structure to avoid a probate tax, then that might be an incentive on purpose. Just because you did something to pay less taxes does not mean that you are some bad actor exploiting a loophole. For example, taxes are only paid on profit, so companies are incentivized to spend their money and pay less in taxes. No one sees this as a legal loophole that needs to be fixed, it is very much intentional. Also you are making the false dichotomy here of "regular people" as something different from "somewhat versed in financial entities people". That's weird.

Mashimo 3y ago
> If you can avoid a tax through some legal structure, you are within your rights to do so and you can't judge this as some sort of shady business. Sure you can. Legal tax avoidance gets judged all the time. See the Jimmy Carr tax "scandal" that was legal, and yet he received public pushback.

IG_Semmelweiss 3y ago

>>> How does this hurt anyone though? That is not clear at all. Allow me to make it clear. https://www.smithsonianmag.com/history/1938-nazi-law-forced-jews-register-their-wealthmaking-it-easier-steal-180968894/ https://www.smithsonianmag.com/history/1938-nazi-law-forced-...

no_wizard 3y ago
they already collect enough information that if the goal was to seize wealth they could easily do so, even before this change. I don’t see how this change makes that more imminent. If someone wants to argue you shouldn’t have to register things with the government I’m all ears but it is no way comparable to what the Nazis did.