Chrystia Freeland would drop the Canadian government’s policy of raising the capital gains inclusion rate if she wins the race to replace Justin Trudeau as prime minister, according to a person with knowledge of her plan.
It’d probably has to be aggregate, so you don’t just do 10 $1 million loans as well. A million seemed too low as that’d hit a lot of people and small businesses. Somewhere between 1 and 10.
Keep in mind there is interest on these loans that has to be paid eventually, which probably involves taxes, unless they’re so wealthy they can just keep chaining it forever until they die which is what the billionaires do.
Edit: at least with something like this, we aren’t taxing unrealized gains without them trying to access the gains.
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Start it at 10m? So if you only borrow 9m you pay no tax?
It’d probably has to be aggregate, so you don’t just do 10 $1 million loans as well. A million seemed too low as that’d hit a lot of people and small businesses. Somewhere between 1 and 10.
Keep in mind there is interest on these loans that has to be paid eventually, which probably involves taxes, unless they’re so wealthy they can just keep chaining it forever until they die which is what the billionaires do.
Edit: at least with something like this, we aren’t taxing unrealized gains without them trying to access the gains.