God these people are such fucking crybabies. It’s not even an especially significant tax hike.
Edited to add:
“Foundations, high-net worth folks that are holding the capital into companies — that’s going to be gone.”
That’s a lie, but if it were true - good riddance. We’d get a lot more done as a country without those ghouls playing the working class against each other. Let them all move away - it’s not like regular Canadians won’t start businesses to take their place.
Also, when I say it’s not an especially significant tax hike: Capital gains are currently taxed as if you made 50% of the profit you actually made, and now that’s going up to 66%. It’s not a tax rate of 66%, it literally means “When we tax you, we’ll pretend you only made 2/3rds of the profit you actually did.” Regular people, already get taxed on 100% of their employment income (albeit generally in a lower tax bracket).
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God these people are such fucking crybabies. It’s not even an especially significant tax hike.
Edited to add:
That’s a lie, but if it were true - good riddance. We’d get a lot more done as a country without those ghouls playing the working class against each other. Let them all move away - it’s not like regular Canadians won’t start businesses to take their place.
Also, when I say it’s not an especially significant tax hike: Capital gains are currently taxed as if you made 50% of the profit you actually made, and now that’s going up to 66%. It’s not a tax rate of 66%, it literally means “When we tax you, we’ll pretend you only made 2/3rds of the profit you actually did.” Regular people, already get taxed on 100% of their employment income (albeit generally in a lower tax bracket).
Also we can always ramp up public investment to fill the gap.
Absolutely!