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Opinion | Bank of Canada’s fight against inflation is a war on workers
(www.thestar.com)
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this post was submitted on 12 Jul 2023
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This hurts regular people far worse than the upper class that has spent 3+ years hording and acquiring assets. They're trying to fix inept government policy on the backs of the labour that allows the country to function rather than having the hording class pay a fair share to sustain society.
Property taxes should increase exponentially with each additional property you own. Double or triple for corporations. That will do a large part to fix our issues, but the government will only enact policies favourable to the landowners.
Agreed. Pretty much any property a person owns past the first single-family home or equivalent should be treated as income and business expense and should be taxed as such. There should be a bigger incentive when you move homes to buy a new home and sell your previous. Rather than buying a home when you move and putting the previous up for rent, slowly accumulating properties to be used as passive income and denying homeownership to younger people.
I'm not 100% sure we should even allow corporations to own housing property at all, but that's a bigger question.
I much prefer corporations owning rental housing than individuals. They at least have staff and somewhat understand the laws. The idea that all sorts of individuals will choose to be landlords of one or two properties and deal with all the toxic shit that comes with it is incredibly naive in my opinion.