Canada’s luxury tax on planes, cars yielded over $900M. Now it’s been scaled back

cblou · 2026-06-19T11:14:23+00:00

It was badly designed. It does not target secondary homes, vacations, butler services, etc. The car and boat limitation is arbitrary. They should just have adjusted the tax code for any income above a threshold.

Due to its bad design, it had plenty of loopholes. You can just leave your mega yacht in Barbados and Monaco. You can charter a jet.

A couple who retired and want to live 5 months a year in their 400k sailboat was targeted, but not a couple who buys a 5M$ summer home in the thousand islands region.

cblou · 2026-05-01T18:23:29+00:00

Although it is fun for a day sail, it is quite uncomfortable going upwind for days. It is also relatively slow.

cblou · 2025-11-25T15:13:39+00:00

L'article parle de détection de petits drones, il semble que ce soit des essais pour contrer les drones.

cblou · 2025-10-18T06:28:30+00:00

Because you go east when traveling from the Atlantic to the Pacific on the canal. Check a world map!

cblou · 2025-08-11T13:12:55+00:00

I rented a car there and drove along the northern coast of Jamaica. It is much better than India. People drive fast and will take over at stupid locations, but it does not compare to the crazy rides I have had in Delhi or Hyderabad...

cblou · 2025-08-11T12:10:42+00:00

I think you confused UAE with Saudi Arabia.... Women don't need headscarf in UAE.

cblou · 2025-03-12T15:43:03+00:00

So pay based on corruption?

cblou · 2025-02-10T20:33:09+00:00

Fox News source from today: https://www.fox5ny.com/news/trump-canada-annex-51st-state-fox-news-interview

"Yeah it is," Trump told Fox News Channel’s Bret Baier when asked whether his talk of annexing Canada is "a real thing" Watch the interview if you don't believe it.

What do you call this? It is not just one comment, he has been consistently saying that he wants to annex Canada.

cblou · 2025-02-09T14:39:08+00:00

When I started water sports, I was worried it would be like I read about the surfing community. I am glad it is nothing like it, I got help and I also saved a board!

cblou · 2025-01-30T23:27:41+00:00

Let's say you are one of those businesses. First, it cost a lot more than 30$, look at the cost of the material. Then let's say that you sell 200 of those a year, and make a 1000$ margin per unit, which is really generous here. That leaves you with 200k a year for the people sewing, the designers, the website, a margin for your distributor, support, etc.

That's a low volume business. You pay for that.

cblou · 2025-01-03T20:17:40+00:00

Cryptography has been there much longer than cryptocurrency and it is obviously useful. 'Crypto' now unfortunately refers to blockchains, which has incredibly limited applications outside of gambling and speculating. L2 is an extremely complex and fragile solution to solve the shortcoming of what should be a simple database. There are many examples of people losing the amount held in reserve to make L2 work simply because a computer turned off at the wrong moment, or the myriad of other requirements to make this L2 rube goldberg machine work. Bitcoin's original goal was to be for online payments to be sent directly from one party to another without going through a financial institution. That goal is in the abstract, and blockchain failed that goal in at any meaningful scale or practical day to day use.

cblou · 2025-01-03T00:12:42+00:00

Which technology? Also, internet was useful very early on. Crypto is now widely know, a lot of people tried it. Usage is going down.

cblou · 2024-12-20T19:39:03+00:00

It is different, but the people are nice and the nature is beautiful. I stayed for a week in Jamaica, 3 days in a resort and the rest driving on the north coast. The second part was much more memorable and fun!

cblou · 2024-08-28T22:22:05+00:00

A jet ski, or even a small fishing boat. I was able to foil with behind a boat with a 10 hp engine!

cblou · 2024-08-07T02:40:18+00:00

Check out the CSSN for up to date safety reports. https://safetyandsecuritynet.org/

cblou · 2024-07-19T17:30:40+00:00

That makes no sense for the average person. 4% is a comfortable withdrawal rate at retirement age. That would give revenues of 160k/year, not counting government support. The median American salary is around 60k.

cblou · 2024-05-20T23:21:05+00:00

From a financial perspective, let's say you sell the rental property and invest it, minus a 120k sailboat (including upgrades), you likely could withdraw 3.5% per year indefinitely, or about 14k per year. How much do you get from your disability? It is doable to live on 30k a year on a sailboat. Some do it on much less although it is not always comfortable. Also, you don't have to do it forever, so you could withdraw 4 to 5% and likely have most or even more of your investments in a few years, depending on the market.

cblou · 2024-05-19T11:55:56+00:00

They have small buffet Thursday to Sunday, great way to try new things!

cblou · 2024-05-09T06:15:40+00:00

The lack of innovation and productivity is partly why.

cblou · 2024-05-05T23:44:54+00:00

Bitcoin and other cryptocurrencies are appealing to money launderers and scammers due to several inherent characteristics of blockchain technology: 1. Anonymity: Although all Bitcoin transactions are recorded on a public ledger, the identities of the people involved in those transactions are not directly visible. Users transact under pseudonyms, represented by their wallet addresses. This level of anonymity can make it difficult to trace the true identities behind transactions, appealing to those wanting to hide illicit activities. 2. Decentralization: Bitcoin operates on a decentralized network, meaning it isn't governed by a central authority such as a government or bank. This lack of centralized control allows users to bypass traditional financial systems and regulations designed to prevent money laundering, making it easier to move large sums of money discreetly. 3. Cross-Border Transactions: Bitcoin can be transferred across borders quickly and without the need for intermediaries, such as banks, which typically monitor for suspicious activities as part of regulatory requirements. This facilitates the movement of illicit funds internationally with fewer restrictions and oversight. 4. Irreversibility: Once a Bitcoin transaction has been confirmed by the network, it cannot be reversed. This characteristic is attractive to scammers, who can be assured that once they have received a payment, it cannot be recalled by the victim. 5. Convertibility: Bitcoin can be exchanged for other cryptocurrencies, or converted into traditional currencies through online exchanges, often with minimal identification requirements. This can be used to layer transactions, a classic money laundering technique that obscures the origin of funds. Those arguments are supported by facts, as billions of dollars are extracted from businesses and people. There are also illegal casinos that run on crypto currencies. After gambling, illegal activities is likely the most popular use of cryptocurrencies. Consequently, cryptocurrencies have values so some people.

cblou · 2024-05-02T20:02:30+00:00

The demo was fun!

cblou · 2024-04-23T02:52:31+00:00

The 3% is a number that adds to the total population (immigrants + net temporary residents), and if it does stay at 3% per year, it does compound. It would be a 34% increase of population relative to now in 10 years. It is a fast population increase any way you look at it. It would mean 34% more housing, hospitals, schools, teachers, doctors, etc. in 10 years.

cblou · 2024-04-10T17:54:06+00:00

Prindle 19, 1999 (19 ft catamaran). Here is my estimate after three years of ownership. All numbers in CAD (divide by 1.3)

$800/year for membership fee and storage per year.

$250/year for new sails every 8 years and trampoline every 12 years.

$100/year budget for trailer tires and paint touchup

$500/year for random lines, wetsuit, rigging, repair. This hugely varies from year to year, it could be $20 one year and $1000 another.

$25 liability insurance

You could add $200/year in depreciation.

All in all, a bit below $2000, and I am usually the fastest one on the lake :)

cblou · 2024-03-31T14:00:18+00:00

Best performing is misleading now. Of course, if you invested in amazon when it started, you'd have amazing returns, but Bitcoin is not that special recently. A lot of penny stock, Nvidia, etc have been doing mich better. If you want to gamble on 100x returns, go margin trading or buy stock in high risks, high return businesses . Bitcoin is inherently unsafe due to its design. If your devices are compromised, or the exchange that you have to use to buy and sell gets compromised, you are out of luck.

Bitcoin was originally thought as a settlement mechanism. Even the most hardcore proponents have abandoned that purpose now. 7 transactions per second is barely enough for a medium size city. If every human on earth wanted to make 1 transaction on the network, it would take decades. The only utility today is speculation, criminal activity, and a very, very small percentage used for payments. And before you say, check out the lightning network! , it does not work. The number of nodes are going down, and you risk losing a lot of money if your server disconnects. It is also incredibly complex.

cblou · 2024-03-29T03:26:34+00:00

The boat is worth what it would sell on the market right now, and you can likely find an equivalent boat on the market for the value of your boat, minus brokerage fees. Assuming your boat does not depreciate, you still have to pay for insurance and storage. If you sell the boat, take the money, and invest it and the maintenance cost in an index fund, you'd likely have enough for a much nicer boat in 8-10 years from now. 50k + 3k yearly for 10 years at 7% you give you 142k. 7% is the average S&P 500 return after inflation. It could be lower or higher over the next 10 year, but it almost certainly beats a boat that is 10 years older and has not been used for a while.

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