Understanding Inequality and Taxation

Which political party is proposing a wealth tax?

• Liberals

• NDP

• Conservatives

• Bloc Quebecois

Which of these is not a measure suggested by them?

• A progressive wealth tax

• A luxury goods tax

• Going after large-scale tech companies

• Going after corporations that pay executive bonuses from government supports

Which of these provinces could have a progressive wealth tax in the near future?

• BC

• AB

• ON

• QC

The top 1% of Canada owns what percentage of the country's wealth?

• 15%

• 18%

• 25%

• 28%

The top 1% of the richest in the US hold what percentage of it's total wealth

• 20%

• 28%

• 32%

• 35%

What is the basic criteria for Canada's wealth tax?

• 0.1% of earnings over 20M

• 1% of earnings over 20M

• 10% of fortunes over 10M

• 1% of fortunes over 20M

The main aim of lobbies is to

• Bribe

• Influence

• legislate

• support

Lisa bought a vacation home in Kelowna for 400K. Two years later, she sold it for 950K. What tax will she need to pay?

• capital gains tax

• luxury goods tax

• wealth tax

• income tax

Lisa bought a vacation home in Kelowna for 400K. Two years later, she sold it for 950K. What amount is taxable?

• 550K

• 950K

• 225K

• She is exempt

Which of these does capital gains not include?

• Rental property

• business property

• yatch

• stocks and shares