Millionaires Leave Canada Before It's Too Late
Summary
TLDRThe video criticizes Canada's current economic and social situation, claiming it has the worst economy among developed countries and high taxes driving wealthy individuals to leave. It discusses issues like rising immigration, low native fertility rates, increased crime, and deteriorating social attitudes. The speaker suggests that wealthy Canadians should consider leaving the country for better opportunities and tax benefits elsewhere, such as Barbados or Mexico. The overall message is that Canada is no longer a desirable place to live, especially for the wealthy, due to its economic policies and social issues.
Takeaways
- 🌍 Canada is described as having the worst economy among OECD countries from 2020 to 2030.
- 🏠 Native Canadian fertility rates are low at 1.33 births per woman, and the population growth is primarily due to immigration, with 500,000 new immigrants annually.
- 📉 High taxes in Canada, including capital gains tax, carbon tax, and real estate taxes, are cited as a burden on residents.
- 🚶♂️ There is a concern about the integration of immigrants, with instances of cultural clashes and public health issues, such as defecation on beaches.
- 📉 The Canadian regime is criticized for being influenced by the World Economic Forum, leading to policies that negatively impact the country's position globally.
- 🔍 Immigration from Canada to the U.S. has reached a 10-year high, with skilled professionals like doctors, lawyers, and engineers seeking better opportunities.
- 💼 There are options for wealthy Canadians to move abroad, such as setting up in Barbados, which has a tax treaty with Canada and allows for becoming a tax non-resident.
- 📚 The suggestion to obtain a second citizenship or residency in another country is made, with Mexico and Spain being popular choices among Canadians.
- 🏦 There are concerns about the Canadian government's potential to freeze bank accounts or deny services to those critical of the government on social media.
- 🚗 Crime rates, particularly carjackings, are mentioned as being higher than ever, contributing to a perception of an unsafe environment.
- 💔 The script reflects a perceived degradation of Canadian society, with increasing resentment and division among its people.
Q & A
Why is Canada described as having the worst economy among OECD countries from 2020 to 2030?
-The script implies that Canada's economy is struggling due to high taxes, a low native fertility rate, and an influx of immigrants, which are contributing to a perceived decline in the quality of life and economic opportunities.
What is the native fertility rate in Canada, and why is it a concern?
-The native fertility rate in Canada is 1.33 births per woman, which is below the replacement level. It is a concern because it indicates that the native population is not growing naturally, and the population growth is primarily due to immigration.
How many new immigrants does Canada plan to accept annually, and what is the projected population growth?
-Canada plans to accept 500,000 new immigrants every year, with the goal of increasing the population from the current 40 million to 100 million by 2100.
What are some of the challenges faced by Canada's immigration policy according to the script?
-The script mentions challenges such as cultural integration, as evidenced by campaigns to discourage public defecation, and the potential strain on resources and infrastructure due to rapid population growth.
Why are some wealthy Canadians considering moving to other countries?
-Wealthy Canadians are considering moving abroad due to high taxes, perceived social and political instability, and a desire for a better quality of life in countries with lower taxes and a more favorable business environment.
What is the current regime in Canada described as, and why is it seen as problematic?
-The current regime is described as a 'World Economic Forum regime,' which is seen as problematic because it is perceived to be pushing policies that are detrimental to Canada's economic and social well-being.
What is the situation with immigration from Canada to the United States, and why is it happening?
-Immigration from Canada to the United States has hit a 10-year high, with tens of thousands of people, including professionals like doctors, lawyers, and engineers, moving south for better job opportunities and potentially lower taxes.
How does the script suggest wealthy Canadians can protect their assets and reduce their tax burden?
-The script suggests that wealthy Canadians can protect their assets and reduce their tax burden by moving to countries with more favorable tax regimes, such as Barbados, and by obtaining second citizenships or residency in other countries.
What are some of the social and political issues mentioned in the script that are affecting Canada?
-The script mentions issues such as high crime rates, including carjackings, a perceived degradation of Canadian niceness and societal attitudes, and an authoritarian government that may impose restrictions on citizens based on their political views.
What is the tax situation for wealthy Canadians, and why is it a concern?
-Wealthy Canadians face high tax rates, with some individuals paying up to 59.2% on business income and additional sales taxes. This is a concern because it may discourage wealth creation and incentivize individuals to move to countries with lower tax burdens.
What are some of the countries mentioned in the script as potential destinations for Canadians looking to move abroad?
-The script mentions Barbados, Mexico, and Spain as potential destinations for Canadians looking to move abroad, highlighting factors such as tax benefits, quality of life, and cultural attractions.
Outlines
📉 Economic Woes and Immigration Concerns in Canada
The first paragraph discusses the economic downturn in Canada, ranking it as the worst economy in the OECD from 2020 to 2030. It highlights the high cost of living, taxes, and the influx of immigrants, mainly from India and Africa, contributing to a growing population. The native fertility rate is dropping, and there are concerns about cultural integration, exemplified by incidents of public defecation on beaches. The paragraph also criticizes the high taxes on capital gains, carbon, and real estate, and the political regime, suggesting that Canada is becoming an undesirable place for the wealthy. It mentions the movement of Canadians to the US, particularly professionals like doctors and engineers, and the possibility of becoming a tax non-resident of Canada by moving to countries like Barbados, which has a tax treaty with Canada. The paragraph concludes with advice on obtaining second citizenship and residency elsewhere as a safeguard against potential authoritarian actions by the Canadian government.
🚗 Declining Quality of Life and Societal Issues in Canada
The second paragraph focuses on the declining quality of life in Canada, with increasing crime rates, such as carjackings, and political issues that make living there less appealing. It includes a community member's testimony about the perceived corruption in the justice system, the prevalence of photo radar for revenue generation, and a negative attitude among the public service. The paragraph describes a shift in the Canadian social fabric, with a loss of the famed 'Canadian niceness' due to societal division and resentment. It also touches on the heavy tax burden on business income, with the speaker paying over 50% in various taxes, and the perception that wealthier individuals are unfairly targeted. The conclusion is a call to action for Canadians to consider leaving the country for places with lower taxes, better attitudes, and a safer environment, and to explore options for a better life elsewhere, with a reference to another video detailing the best countries for Canadians to move to.
Mindmap
Keywords
💡OECD
💡Immigration
💡Fertility Rate
💡Cost of Living
💡Taxes
💡World Economic Forum
💡Second Citizenship
💡Tax Treaty
💡Authoritarian Governments
💡Residency
💡Tax-Free Setups
Highlights
Canada is described as having the worst economy in the OECD from 2020 to 2030 among developed countries.
The speaker suggests that Canada's popularity as a peaceful and opportunity-rich destination is diminishing.
High immigration rates of 500,000 new immigrants annually contrast with a native fertility rate of 1.33 births per woman, indicating a population shift.
Issues of public hygiene and disregard for local customs are highlighted, with examples of Indians defecating on beaches.
Canada's high taxation, including capital gains and carbon taxes, is criticized as a burden on its residents.
The World Economic Forum's influence on Canada's regime is criticized for pushing the country into a negative position.
A 10-year high in Canadian immigration to the US is noted, with professionals like doctors and engineers seeking better opportunities.
The possibility of becoming a tax non-resident of Canada and setting up in Barbados within a couple of months is presented.
The idea of obtaining a second citizenship to protect against potential authoritarian actions by the Canadian government is suggested.
Canadians are advised to consider residency in Mexico or other countries with favorable tax and living conditions.
The speaker shares a client's experience with setting up complex trust structures to protect assets from potential Canadian legal issues.
Tax-free setups in countries like Dubai and Barbados are highlighted as attractive alternatives to Canada's high tax rates.
A community member's testimony about the degradation of the Canadian justice system and societal attitudes is included.
The high personal and corporate tax rates in Canada are criticized, with the speaker sharing personal experiences.
The speaker argues that living in Canada is no longer worth the high taxes and social issues, advocating for relocation.
A final recommendation is made for Canadians to explore better living options abroad, with a reference to a video on the topic.
Transcripts
Canada is an insane mess you have the
worst economy in the oecd from
2020 to
2030 can you imagine the worst economy
in all developed countries around the
world is not some postcommunist
hole it is Canada the country where a
lot of people go to for peace for
opportunities Americans were making
jokes that they were going to move to
Canada if Trump won the election and now
you're seeing one of the worst countries
of objectively to live if you are a
wealthy person other factors such as
immigration
500,000 new immigrants are moving to
Canada every single year while the
native fertility rate is 1.33 birs per
women and going down meaning that native
Canadians are not having children
because of the cost of living because of
taxes because of many other reasons and
the population is growing and is planned
to grow to 100 million people currently
have 40 million they want it to be by
2100 100 million people where are those
people coming from they're coming from
India from Africa as always and you're
even seeing videos of Indians on the
street taking a on the street
people take a video of them and they
don't seem to care and they also have
campaigns of Indians not to poop on the
beach in Canada they had to close
beaches because there was so much eoli
because people are pooping on the beach
what kind of lifestyle is this while you
pay one of the highest taxes in the
world they hiked up your capital gains
they hiked up your carbon tax they hiked
up real estate taxes they just want to
keep on adding more and more taxes and
yes you have the movement from Pier
pever he is pushing I love his videos I
love his movement but we still have a
couple more years of the current regime
which is really a World economic Forum
regime it's not really a Canadian regime
pushing Canada into the worst possible
position in the world it's getting so
bad the Canadians are actually moving to
the US now immigration from Canada to
the United States hits a 10year high
it's tens of thousands head south and
these people are the people with
opportunities doctors lawyers Engineers
that are going to the United States to
get better paying jobs to in some cases
even pay less taxes a lot of Canadian
are going to Florida to pay less tax so
if you're a Canadian and you're wealthy
and for some reason you're in Canada
because we've helped many Canadians move
abroad know that there are options for
example we recently set up a Canadian
client in Barbados the setup in Barbados
takes less than a month Barbados in
Canada have a tax treaty and you can
become a tax non-resident of Canada in
as little as a couple of months because
it is a process you can just leave
Canada and pretend you don't have
anything there if you have property you
Banks they tend to be very aggressive
when chasing you for taxes once you
leave the country so you have to make
sure that the ties to the new country
are strong but it is possible to do it
and it's possible to do it even in the
next year for example for 2024 it might
be a little bit late but for 2025 you
want to escape Canada it's possible a
lot of Canadians are getting second
citizenship which I highly recommend if
you have French descent although French
nationality by descent is a bit tricky
but any that you have British although
the UK is also heading downhill but you
want to get a second option like what
happened with the trucker protest some
people are getting their passports
cancel people couldn't renew their
passports your bank accounts are getting
Frozen you don't know what the
government is going to do next if they
find some social media post of you
critiquing the government just like this
one are they going to not allow you to
renew your passport or renew your
driving license anything stupid like
that that these authoritarian
governments start doing in the beginning
you want to plan ahead for that so you
want to get a second passport you want
to get residency somewhere else a lot of
Canadians have residency in Mexico they
live in Mexico they have businesses in
Mexico they have real estate of Mexico I
have a client who has multiple
properties all over Mexico he has them
all under a trust a cook Island's trust
he also has a Mexican trust overall he
has a very complex beautiful structure
to protect all his assets in the case
that Canada decides to sue him for any
reason or any problems that he has in
the future and obviously you have some
taxfree setups like do buy for capital
gains Barbados is also taxfree for
capital gains you have some lome taxes
tax exemptions for example in Spain a
lot of Canadians are moving to Spain
they're enjoying the weather they're
enjoying the better Lifestyle the calmer
Lifestyle the better cost of living
overall Canada is not worth it anymore
what are you paying whether 50% in tax
to live in a cold immigrant filled
dangerous place car jackings are higher
than ever in Canada you can get your car
stolen from you in the middle of the
night somebody points a gun at you they
want your car is that really how you
want to live plus all the other
political issues that you're facing in
your country it's just not worth it
living in Canada isn't worth it anymore
and just to hit the nail on the head
finally here with a Community member of
ours if you want to join the community
it's in the description he is Canadian
and he's leaving Canada this year he has
some thoughts on living in Canada he
says the justice system is a big joke
they have photo radar everywhere to
squeeze more tax out of you they put
them in construction SS or nobody really
works because the fines are doubl so
they're trying to get as much money from
you as possible and then he continues
lots of places you go people have such a
bad attitude you are lucky to be served
I recently returned an item that I
purchased at Home Depot and the
department manager started threatening
me that I would not be able to buy this
item again if it did not work this time
you're overall seeing a degradation in
that Canadian niceness that Canadian
attitude that we all loved because I was
in Canada 10 years ago I absolutely
loved it people were amazing they were
nice but now after 9 years of Tau you
are seeing that degradation of society
you're seeing that hate that division
that resentment against the country
against other people and then to finish
it off he goes as soon as you start
making money you will very quickly
realize that you work for nothing and
that most people around you barely work
I pay
59.2% tax on my business income
corporate personal and with this money
left I paid 14.9 15% in sales tax of
course is excluding all the other taxes
and credits you lose because you make
too much money and this is the attitude
in Canada you're rich you're a
millionaire even if you have one million
dollar you're evil because you have more
money than me therefore you need to pay
more taxes you need to contribute more
money and the solution is to leave leave
the country choose another country that
doesn't want to tax you at 60% that
doesn't have a bad attitude that doesn't
have bad crime statistics that isn't
trying to import the third world into
your country there are better options if
you want to know the best options for
Canadians around the world I made a
video right here on the best countries
that my Canadian clients and overall
wealthy clients are choosing all over
the world check them out right here
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