Jayson Lowe warns of potential large tax increases in Canada, arguing that government debt monetization and central bank money printing will ultimately be borne by taxpayers. He uses a camel-in-the-tent metaphor to represent Revenue Canada and urges viewers to ‘store capital where the camel can't get into your tent’ as protection; he claims tax rates could rise as high as 80%.
Tax rates could go up to 80%.
Could there be a tax hike on the horizon? The central bank is printing money like crazy. The government is monetizing that debt. Who do you think's going to pay the bill? You, me, Our children, our grandchildren and so on. If you and I were in the Sahara Desert together and we were standing inside of a tent and we had all the water we needed, it was air conditioned, it was fully stocked with everything we needed, and I said to you, don't turn around too quickly. A camel just poked its head in our tent. Now, if you and I don't do something very quickly about that camel, we're going to end up with the entire camel in our tent, aren't we? That camel is Revenue Canada. You got to keep the camel out of your tent. And the way to do that is to understand the fundamental truth that your money must reside somewhere. And tax rates could go up to 80%. That won't matter to you if you're storing your capital where the camel can't get into your tent. Can keep that camel out of your tent.
