David Olive: Milliardären gefällt die Erhöhung der Kapitalertragssteuer in Ottawa nicht, aber Sie sollten es tun: Es ist ein überfälliger Schritt, um unser Steuersystem gerechter zu gestalten
https://www.thestar.com/business/opinion/billionaires-dont-like-ottawas-capital-gains-tax-hike-but-you-should-its-an-overdue-step/article_bdd56844-00b5-11ef-a0f1-fb47329359d9.html
29 Comments
My only issue is how they chose to spend the extra revenue.
Apparently there are lots of billionaires on r/Canada given the reaction to it.
Indeed – this returns the inclusion rate for capital gains back closer to what it has been historically – it brings capital gains more in line with income.
It’s a clear move towards fairness in the tax code, and doesn’t affect the vast majority of Canadians in the least except for increased government revenues being a positive thing.
Billionaires don’t give a shit.
What it is doing is removing the incentive to invest in business, and by that, I’m referring to your local, smaller businesses. This will just cause larger businesses to absorb smaller ones and further consolidate the market.
This barely starts to claw back the massive inequality in our country. The fact we are hearing so much squealing tells you how greedy they are. The media trying to make it out like little people are being hurt shows how controlled it is.
I love this move. Doesn’t affect me or anyone I know. It sure feels like the billionaire influence is out there trying to convince us this is bad. This is a good aspect of the new budget
this extreme money hoarding must be stopped… fuck these pricks, it’s a disease
It’s easy to tell who runs the country, when you see a small tax increase against the rich have tons of articles and posts saying how this will hurt the poor.
Shocked Pikachu face
These taxes aren’t about billionaires. It’s about people making 300k-1million a year who get fucked in taxes. The billionaire group are the ones who buy and own these politicians so of course they’ll have their puppets write laws that won’t affect them but make non billionaire high income makers get fucked. Billionaires don’t care about these tax laws because they know their minions wrote it so they would have ways to get around it.
imagine thinking this just affects billionaires… i guess David Olive went to Freeland’s school of economics
Billionaires have 100 ways to not make their profit to be capital gain. This policy only hurts your successfully middle class or small and medium firms which supports the local economy and employment the best. Very short sighted move
Chases any kind of capital as far away from Canada as it can get.
Capital gains should be taxed at a rate higher than income taxes are.
Bu.. but r/canada users said that its dumb to take money from the rich?
What about the doctors?
As we all know doctors are always on the edge of bankruptcy and can’t find better wages anywhere in Canada.
Nor can they afford to pay more in taxes.
Of course because one high paying occupation that provides a valuable service to society is somewhat effected by it we must stop the whole thing, even when its encompassing CEO’s/executives of grocery/oil companies and silver spoon families who never worry about what they eat or how they’ll pay for stuff.
Honestly, this sub is just getting unbearable at this point.
Sub: We want housing fixed, groceries cheaper and less inflation.
Feds: Well I mean housing is a provincial responsibility but here’s funding in the budget, as well as investigations into grocery prices. Of course this will mean more spending and taxes, so we’ll be taxing the rich to help alleviate that…
Sub: Nope, that’s too far! This is the worst thing they could do and they only care about the election. That’s why they’re trying to fix everything.
People like this make me want to scream sometimes.
Showy headline grabbing nonsense that isn’t going to change anything in the lives of 99.9% of Canadians other than give some people their moment of schadenfreude.
Every socialist country starts at the top and works there way down until there is nothing left…. If things keep up they’ll be telling 5 people splitting a 1 bedroom apartment that they clearly need to give more of their income to the state, don’t they know what a privilege it is to be indoors?
Its more then just billionaires that dont like the tax hikes.
Whenever billionaires hate something, I know we’re doing something right.
I would have supported this if it was tied to actual deficit reduction. But all this will lead to is more public spend inefficiency and bloat and the associated continuing erosion of standards of living.
All this country does is sell houses and hire government employees now.
It’s just a limited tiny gesture compared to a bolder and absolutely necessary move. Long live neoliberalism! When they even talk about middle class they usually refer to the “middle class of the top 1%”
I choose this violence.
The reality is, it’s probably not enough. We need to tax *stagnant wealth*.
This is a class-based culture war issue manufactured by the Liberals meant to distract from their unpopularity and billions upon billions in new spending. No one was talking about capital gains rates prior to three days before the budget, when Trudeau and Freeland suddenly started talking about “THE NEED FOR FAIRNESS”.
If Trudeau and Freeland think that the capital gains tax rates are too low and so unfair, why didn’t they do something about it sometime in the last 9 years? Why is this suddenly, as of two weeks ago, a huge issue?
Ahhh yes, the fresh smell of communism in the morning
Funny to watch people still believe the most corrupt, criminal government in history has genuine intentions
“You either agree with my personal feelings even though there is a mountain of economic research contradicting them or you’re a billionaire”
Apparently, my middle class senior mum and dad are billionaires too, who knew
My only problem is that business investment has already been too low in Canada for 10 years. This might make it worse. Businesses produce goods and services people need, and create jobs.
The cognitive dissonance in this thread is unreal. People talking about the billionaire class in Canada and how they need to pay more. ….This is not the US. At the time of writing this, there are 60+ billionaires in Canada. Likely these people have their assets & wealth spread in numerous countries. The capital gains that we will receive from them is NIL.
I personally know three persons who will be affected negatively by this. Maybe that’s OK, they’re all doing OK but certainly not wealthy – especially as their operating costs have gone through the roof in recent years.
Having the peasants debate the specificity of the capital gains tax meanwhile our government is spending our money like a rich trust-fund baby with daddies credit card is . . . . well I was going to offer an analogy until I realized that is our exact issue here in Canada. We are going deeper and deeper in debt paying for the most ridiculous programs and fighting over small policy changes.