Madam Speaker, I will tell the hon. member that I do not own a yacht or a fancy car, unless one calls a Subaru a fancy car.
The short answer is that wealth taxes do not work. When they have been tried, they have been abandoned. The most effective wealth tax we have is the capital gains tax. I expect that, given the irrational exuberance of the some of the real estate sales, there will be quite a significant windfall for the government on the sales of assets.