Shopify CEO endorses idea to give more votes to wealthy Canadians

[Halifax Tar]

The billionaire CEO of one of Canada's largest companies has come under fire for endorsing the idea of stripping voting rights from some people and giving more votes to the ultra-wealthy.

On Saturday, Shopify CEO Tobi Lütke replied to a post on X from former TD Bank executive Eric Thor, who suggested an electoral system of "weighted voting proportional to the amount of income tax you pay," from zero votes for people who don't pay income tax to five votes for anyone paying $500,000 or more.

Lütke replied, "Good system."

Link

Not content with floating the idea of limiting our constitutionally protected franchise, Lutke argued that those on a pension should not be permitted to vote. “New deal: when you get your pension deal it’s locked in and guaranteed. But now you are a dependent and that means no voting, just like dependants under age. Enjoy the deal, let people with a stake in the future decide,”

Link

 

[Eaglelord17]

Remember universal suffrage is a very recent thing. We didn’t fully achieve it until 1960.

The wealthy will do everything in their power to consolidate their power, they always have. The only thing which has ever really caused them to move towards more rights/privileges for others is the fear of the commoners overthrowing them.

 

[The Bread Guy]

The billionaire CEO of one of Canada's largest companies has come under fire for endorsing the idea of stripping voting rights from some people and giving more votes to the ultra-wealthy.

On Saturday, Shopify CEO Tobi Lütke replied to a post on X from former TD Bank executive Eric Thor, who suggested an electoral system of "weighted voting proportional to the amount of income tax you pay," from zero votes for people who don't pay income tax to five votes for anyone paying $500,000 or more.

Lütke replied, "Good system."

Link

Not content with floating the idea of limiting our constitutionally protected franchise, Lutke argued that those on a pension should not be permitted to vote. “New deal: when you get your pension deal it’s locked in and guaranteed. But now you are a dependent and that means no voting, just like dependants under age. Enjoy the deal, let people with a stake in the future decide,”

Link

Starship Troopers, Oligarch Edition.

 

[daftandbarmy]

The billionaire CEO of one of Canada's largest companies has come under fire for endorsing the idea of stripping voting rights from some people and giving more votes to the ultra-wealthy.

On Saturday, Shopify CEO Tobi Lütke replied to a post on X from former TD Bank executive Eric Thor, who suggested an electoral system of "weighted voting proportional to the amount of income tax you pay," from zero votes for people who don't pay income tax to five votes for anyone paying $500,000 or more.

Lütke replied, "Good system."

Link

Not content with floating the idea of limiting our constitutionally protected franchise, Lutke argued that those on a pension should not be permitted to vote. “New deal: when you get your pension deal it’s locked in and guaranteed. But now you are a dependent and that means no voting, just like dependants under age. Enjoy the deal, let people with a stake in the future decide,”

Link

They would approve

 

[Czech_pivo]

Remember universal suffrage is a very recent thing. We didn’t fully achieve it until 1960.

The wealthy will do everything in their power to consolidate their power, they always have. The only thing which has ever really caused them to move towards more rights/privileges for others is the fear of the commoners overthrowing them.

If the commoners overthrow them, who will pay the taxes then?

For my 2 cents, following some of the Euro's and mandating that every citizen over the age 18yrs of age and being of 'sound body and mind', should be required to vote and unless they have some 'approved' reason why they can't, should be fined an impactful amount if they don't.

 

[KevinB]

Starship Troopers, Oligarch Edition.

I think I prefer the Service Equals Citizenship system better.

Have all the money you want - but you can’t vote unless you serve.

 

[Eaglelord17]

If the commoners overthrow them, who will pay the taxes then?

For my 2 cents, following some of the Euro's and mandating that every citizen over the age 18yrs of age and being of 'sound body and mind', should be required to vote and unless they have some 'approved' reason why they can't, should be fined an impactful amount if they don't.

Based off how many tax loopholes exist for the wealthy, likely still the middle and bottom.

I think people shouldn’t be forced to vote, I am not a fan of compelling any action which isn’t required. You should have the right to. And you should want to. But if you don’t wish to that is also within your rights.

Voting in our current system doesn’t mean much anyways. I have said it before if we want real democracy we would move to a direct democracy system like the Swiss. Our current system is basically two very similar parties who are unaccountable once elected and every four years you have a ‘chance’ to hold them ‘accountable’, which mainly consists of electing the alternate very similar party who will do similar things.

 

[brihard]

Based off how many tax loopholes exist for the wealthy, likely still the middle and bottom.

I think people shouldn’t be forced to vote, I am not a fan of compelling any action which isn’t required. You should have the right to. And you should want to. But if you don’t wish to that is also within your rights.

Voting in our current system doesn’t mean much anyways. I have said it before if we want real democracy we would move to a direct democracy system like the Swiss. Our current system is basically two very similar parties who are unaccountable once elected and every four years you have a ‘chance’ to hold them ‘accountable’, which mainly consists of electing the alternate very similar party who will do similar things.

Plus wealth is not income, the latter being what is taxed. I’m not crapping on those who earn or luck into wealth; just saying that it doesn’t earn an automatic assumption about their relative proportion of the total tax burden.

I’m sure there’s excellent research on this, it’s just more economic digging than I’m up for at present.

 

[RangerRay]

More proof that just because you had a good idea and made a lot of money off it doesn’t mean you’re super smart in other fields.

 

[daftandbarmy]

More proof that just because you had a good idea and made a lot of money off it doesn’t mean you’re super smart in other fields.

Wait, are we talking about Elon Musk now?

Elon Musk Needs 10,000+ Missiles to Nuke Mars. 'No Problem,' He Says

Say, anyone know where a guy can get those?

www.popularmechanics.com

 

[Halifax Tar]

I think I prefer the Service Equals Citizenship system better.

Have all the money you want - but you can’t vote unless you serve.

I am fully onside with this.

 

[Czech_pivo]

Based off how many tax loopholes exist for the wealthy, likely still the middle and bottom.

I think people shouldn’t be forced to vote, I am not a fan of compelling any action which isn’t required. You should have the right to. And you should want to. But if you don’t wish to that is also within your rights.

Voting in our current system doesn’t mean much anyways. I have said it before if we want real democracy we would move to a direct democracy system like the Swiss. Our current system is basically two very similar parties who are unaccountable once elected and every four years you have a ‘chance’ to hold them ‘accountable’, which mainly consists of electing the alternate very similar party who will do similar things.

Remember - 20% of the population in Canada pays 65% of all income taxes paid in Canada. Another 40% pays the remaining 35% and a whooping 40% pays nothing in income taxes.

 

[Halifax Tar]

Remember - 20% of the population in Canada pays 65% of all income taxes paid in Canada. Another 40% pays the remaining 35% and a whooping 40% pays nothing in income taxes.

Just a point of clarity, from my searching is this is Canadian Households, not individuals. And again from my search the threshold is household $270K a year to get into that 20%. When you convert it to individual its at the 95K to 100K level paying 61%-62% of taxes.

Also from my searching these levels of taxation are driven from left leaning parties, i.e. LPC and NDP.

So if you're not happy, think about your vote. If you are, carry on.

whooping 40% pays nothing in income taxes.

Thats a staggering and unhealthy number, IMHO. The HUB actually puts it more like 49%.

 

[Eaglelord17]

Remember - 20% of the population in Canada pays 65% of all income taxes paid in Canada. Another 40% pays the remaining 35% and a whooping 40% pays nothing in income taxes.

Still pay taxes though, there is more taxes than just income tax. Sales tax, etc.

 

[Colin Parkinson]

Still pay taxes though, there is more taxes than just income tax. Sales tax, etc.

I was about to say that. Pretty much everything is taxed, so if you go to the grocery store, or put gas in your car you can be paying taxes from 12% to 35% on what you purchased.

 

[Colin Parkinson]

This is AI breakdown of tax revenue in Canada for the Federal government

In Canada, income taxes (personal and corporate) make up the majority of federal government revenues at roughly 67% to 68%, while other taxes and revenue sources—such as the Goods and Services Tax (GST), excise duties, and Employment Insurance (EI) premiums—account for the remaining 32% to 33%. [1, 2, 3]

Breakdown of Federal Government Revenues

• • Personal Income Tax: ~43% to 46% of total revenue (the single largest source, coming directly from individuals and trusts). [1, 2, 3]
  • Corporate Income Tax: ~16% to 21% of total revenue (collected from corporate profits). [1, 2, 3]
  • Non-Resident Income Tax: ~2.5% of total revenue (withholdings on Canadian-sourced income paid by non-residents). [1, 2]
  • Goods and Services Tax (GST): ~10% of total revenue. [1]
  • Other Taxes and Duties: ~5% to 6% (includes energy taxes, customs import duties, excise taxes on alcohol and tobacco, and pollution pricing proceeds). [1, 2]
  • Employment Insurance (EI) Premiums & Other Non-Tax Revenues: ~6% to 11% (social insurance revenues and net profits from Crown corporations or program operations). [1, 2, 3]