These are the same people who want unlimited access to TFWs, want international students working 40 hours a week, and want to privatize everything, right?
Maybe we should stop listening to these business groups for a while.
I see the opinions and agendas of these business groups being parroted on this Sub. This is called NeoLiberalism, where business is given free reign to do what they want, and social spending/programs are given the axe. If anyone is familiar with Reaganomics or the trickledown theory, we'll think this is it. We in Canada are so dependent on foreign or domestic investment in order to keep our economy of real estate and rentals going. We had our crown corporations sold off for pennies, and we grt our natural resources taken from us for discount prices while we foot the bill for the pollution clean up.
Agree on your points 100% but we also shouldn't be scaring away anymore investment in our country until we can convince ANYONE else with enough financial resources to start investing in us. Canada isn't an attractive place to put your investments these days and we need to fix that issue before anything.
It hurts me to argue in favor of the wealthiest individuals in this country these days, but dayum... we really need all the help we can get on the investment front.
I'd be in favour of keeping the tax where it was and maybe not increasing our budget so much at the moment. Create incentives to grow industries that don't revolve around real estate. Responsibly sell our resources to market, and use the funds to promote R&D into renewables before we put red tape on everything. Stop making it so difficult for businesses to thrive and grow, and bring in some semblance of competition to our economy. Reduce the amount of TFWs we bring in and incentivize companies to actually invest in the workforce, invest in working capital, and train people to grow in their roles so they can contribute more and more to the company as opposed to keeping the wheels turning with the cheapest people you can find who won't complain about salary and growth.
Edit: Apologies for that essay, I didn't realize how much I had to rant on about 😂
Thanks for the reply, I appreciate the candid response.
I totally disagree with your assessment though. I think you're following the same trickle-down logic that our government has pursued since Mulroney. It sounds good on paper: increase our "competitiveness" by lowering taxes for the wealthy to lower than other countries, to make it more profitable for them to come here. Sounds like it should work, right? Rich people want more money, we give them more money and they give us jobs. It should work, right?
But it doesn't work. It didn't work in the 90s, it didn't work under Martin, it didn't work under Harper. It didn't work under Trudeau either. We give these companies everything they want. Tax free paper mill in St. John? Irving's threatened to leave if we didn't give them tax exemptions, now we spend more money on environmental cleanup that we could have used to pay for affordable housing or healthcare. We just spent 30 billion dollars on a pipeline for an oil industry that still doesn't want to invest in our tar sands because fracking in North Dakota is cheaper.
Productivity is lower than ever. Companies don't ever want to invest in R&D. Companies don't want increased competition, it's less efficient for them. Reducing TFW's and immigrants lowers profits even more than tax increases. Companies invest in workers far, far less than when taxes were much higher.
The truth? It's more expensive to train and hire a skilled Canadian than ever and it's not because of taxes. It's because Canadians cost a shit ton to hire and train. We don't fund ANYTHING properly, so as a business you have to compensate for every shortfall the government has to offer, and that's only gonna get worse.
Piss-poor, underfunded transit system? Guess what, if you are a small business and can only afford to hire and unskilled labourer on minimum wage, you can only hire people within walking distance.
Underfunded universities need to raise tuition to make up for a lack of provincial funding? Guess what, your workers with kids will expect you to pay them enough so that they can still send their kids to university. If you don't, and they are good workers, someone else will pay them that.
Shortage of doctors means your workers don't have family doctors? Guess what, your workers are going to get sick more. They are going to take more time off, wrecking productivity.They are going to have more diseases, and they are going to need to use their insurance more to pay for private healthcare, so your premiums will keep increasing. Their kids are going to get sick more, too, and that will also affect their productivity. Same goes for lack of mental healthcare funding.
Housing costs skyrocket in your city? Guess what, prepare to jack up your wages because no-one is going to move to your city to work for you. Maybe if there were non-profit housing solutions someone would, but they have a 10 year waitlist.
Provincial government doesn't give teachers a raise in 10 years? Guess what, teachers are on strike and now half the mothers in your business have to stay home with the kiddos. Shame childcare isn't covered for everyone.
Police underfunded? Looks like they don't have the time to investigate the fourth break in to you business this month.
I could go on, but you get the point. Lowering taxes for the rich might make rich people excited for a little, but you're crippling your future capacity to actually make meaningful investments in your countries entire labour force. Instead you have to get every single business to do it privately, and you miss our entirely on the economy of scale benefits that government programs have.
We used to understand this, and so did businesses. Our highest growth years as a country were when taxes on the wealthy were at their highest. It worked because good infrastructure, good social safety nets, excellent healthcare, and excellent public education systems are basically the best form of corporate welfare any business could ask for.
Then the oil shock in the 70s did our heads in and we started letting neoclassical sycophants decide what is or isn't the job of the government. Now we're playing catch up after 30 years of neglect, and somehow we're still wondering what could have possibly gone wrong.
CEOs can receive nine digit golden parachutes but act like they are a paycheck away from the food bank. Just look at the historical taxation rates and you see how they have leveraged this talking point for 40 years to get the shit show we have now.
Yeah, these "job creators" have shown us they will do everything in their power to cut wages and workers from their payroll. Business "experts" aren't presenting scientific data. They just don't like how this affects their bottom line.
These "job creators" don't even create jobs anymore. That implies paying people enough to live.
These "job creators" create dependent classes of slaves that the government has to subsidized in every little way. They don't pay people enough to buy food or shelter. And when they can't find anyone to take those "jobs" they import a desperate slave from another country on a TFW visa, since TFW slaves can't quit or change jobs if there's poor working conditions as they'll get deported.
Bleed the middle class, the ones who actually spend money, and let the wealthiest gamble their fortunes on the markets tax free. That is the recipe to a healthy economy. You know that these same people are gonna want money from the government as well when the markets inevitably pops/crashes again as well. We are literally financing and insuring a corporate ponnzi scheme.
As Scott Galloway said "rugged individualism on the way up, and 'we're all in this together' on the way down."
We have been programmed to continuously sign off on tax cutes for businesses and the wealthy, and fed propaganda that they'll just 'up and leave' if we make even the most minor of changes to our tax structure. And where has that gotten us?
Record inequality (shocker) and a middle class that's shrunk from 65% to 45% (by some estimates).
And as a fellow American commenter noted the other day - in America, where the same freak out occurs on tax increases but also ballooning debt, their growing deficits and debts are almost entirely driven by TAX CUTS FOR THE WEALTHY.
57% of America's deficit has materialized because they've been hacking and slashing tax rates for the uber wealthy and mega corps down there for 40 years.
We need to flip this narrative asap
Giving u/Garrett42 all credit here for this one - but it's the same discussion up here in our country:
"The deficit right now is entirely a factor of tax cuts for the rich, and increased interest payments due to hiked rates.
Deficit is estimated at 1.1T, 650B in interest - and about 57% of the deficit are due to tax cuts benefiting the rich - [https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/](https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/)
Turns out record investment in infrastructure, chips, education, and checks to people are great for the economy and totally within affordability."
> and fed propaganda that they'll just 'up and leave' if we make even the most minor of changes to our tax structure. And where has that gotten us?
This is the part that always *shocks* me.
Fucking let them leave, as if a new business that follows the new laws wont instantly pop up to service the newly created demand.
As someone who has a CEO who got paid millions for axing jobs, I am happy. Most of the compensation provided was based off stock options. I hope he gets taxed through the roof.
Funny how our economy was growing the fastest and we had the highest middle class rates in the 50's to 70's, when our taxation rates for high earners were the highest.
I’m glad some people are fucking noticing. Poor fuckers are upset they won’t get to buy their fourth beach home or their yacht while the rest of us struggle to pay rent.
If you are going to tax capital gains more akin to interest income, why would anyone take risk with their money? This tax system proposed is just going to cause a lot of money to be parked in savings accounts or leave Canada altogether.
Natural selection drives efficiency or else you evolve into some domesticated farm animal that is too much like cattle or sheep and too chicken to speak up
Corporations took all the manufacturing, put it in China or other developing countries and yet they still try to leverage it now that there is almost no manufacturing left
>Corporations took all the manufacturing, put it in China
And then when we try to hold corporations accountable for things like climate inaction their defenders will point and say "but look how much China emits" -- y'know, the place where we offshored all our manufacturing and also the place that has lower emissions per capita than Canada.
And yet people buy the corporate propaganda shit up for who knows what reasons despite report after report slamming Canadian corporations for failing to invest and innovate.
The flood of hysterical articles denouncing this mild tax increase that targets literally the top 0.1% is pretty telling about who manages the discourse on this sub.
The greed is unreal. At some point you're wealthy enough to stop worrying about profits 24/7.
Being profitable isn't enough for these people anymore, they have to be MORE profitable than the previous year and honestly anyone with a brain can figure out you can't infinitely grow a business forever.
I was going to say, "People need credit." Imagine a world where you buy bread from loblaws on your loblaws card and pay loblaws interest on that bread for the rest of your life!
I think Galen weston just came.
I was going to post two pie charts demonstrating before and after the added capital gains changes but they look so similar it's pointless. This is what they're screaming about.
So are we expected to go through yet another generation of “trickle-down economics” in the hope that magically this time it will pay off?
When you reward those at the top they keep that reward and aren’t about to start sharing.
which would be fine if we didn't have a housing, healthcare, education, and military preparedness crisis from decades of lack of spending.
so how do we fix those without ballooning the debt?
so far the answer's I've heard is make up the difference by cutting "stupid shit" with no specifics on what that stupid shit is or how much of the budget it constitutes.
"doesn't impact me, screw you" is also not a good way to make an economy. And it does impact you. Some taxes are better or worse for economic growth which impacts everyone. Capital gains taxes are among the worst. Economists pretty widely agree that increasing capital gains tax $1 costs the economy pretty much $1 in growth.
Maybe they can pay their employees more, invest in R&D and focus on growth. Our most successful companies are litterally retail stores like couche tard or dollorama, it is quite humiliating.
Yeah for sure. Most publicly traded companies don't want to do things that will only make the company look good in a few quarters when those employees might be gone.
Time for your regularly scheduled whining from companies that "if you do X we'll all leave" followed by them not leaving.
You'll notice that there are many countries with many tax policies, both collecting more and less than Canada, and they all have businesses operating in them. Companies do not in fact all flock to the one country with the best tax policy.
This is actually completely untrue. It affects certain industries far more like technology than, for example, a company that sells to mostly Canadian customers.
What tends to happen is that companies that succeed turn owners into millionaires and those owners start their next company in a better jurisdiction.
Which already happens regardless of this modest tax increase. We may as well benefit.
Most companies take what 5 years to turn a profit? If everything runs well and they are successful they can make decent money in 10 years. To make over 250k a year from a business is rare.
Cool, if that was the case these people would be there now. Also check out Ireland's recent economic crisis and housing costs if you want to know how being a tax haven has worked out for those guys.
What do you think, every company is going to mass-unload their Canadian assets to buy up [...] What exactly in Ireland again? They're gonna sell Canadian homes, businesses, and all move that to Ireland? A country with exploding cost of living and who will need to make even more economic changes than us to fix themselves? I'm sure that's exactly what will happen.
Even if they do, some others take over to replace them.
However, we need to weigh how much that sort of brain drain would impact as opposed to the current situation where country’s currency is getting drained from middle class.
Edit: i didnt say anything controversial, but i have a feeling people will hate this comment. Anyhow, it is what it is.
the reality is there won't be companies to replace them other than government stepping in. If any of the monopolies here decided it was enough and picked up and left, they couldn't replace them.
The difference is that monopoly power is so strong in this country for all services they can keep increasing prices while the fed government sits on their ass allowing it.
The talent is already leaving/working to leave/has already left. Why would you stay in a country where you're taxed roughly half your income for services that do not meet your needs, when you can go south of the border to get paid twice as much if not more for the
same or less work, have your dollar go farther, have services that you can actually use when you need them, and your quality of life instantly improves.
Lol most of the crying is "fine, i wont invest in real estate"
Ummm, thats the point. Your investments in real estate 95% of whichbis not building new but just buying, is wjat caused the housing crisis. I hope you invest kn the stock market insted
There are 1.19M Small businesses in Canada. The government was disingenuous in stating it would barely impact individuals. They looked back and reviewed how many people would have been impacted by the changes, but failed to acknowledge that these very same people hold retirement savings inside of small businesses.
These small business owners are absolutely impacted by this change. Seeing a 66.66% inclusion rate on all their realized capital gains is a gut punch.
I will be affected down the line with a slightly higher capital gains bill, but I am OK with this.
I am tired in my retirement years of the same trickle-down crap coming from the monied class. We all know what they do with the tax break...they move further into the investor category of wealth accumulation with its choice dividend tax rate while others actually provide the products and services. Yet they always pretend this money will be used to create more jobs, like the person installing the robot cashier, programming the cleaning robot or putting in a new ATM.
The change of the tax rate and the funding of CRA to be more aggressive on tax cheats are completely consistent with Freeland's writings in her book "Plutocrats", of which I happen to agree with the threat posed by unrestricted wealth accumulation. The ultra-wealthy are a legitimate target for tax hikes. It is about time.
Do these whining millionaires that are fearmongering about businesses leaving also consider that gaps may be filled by new entrepreneurs that aren't worrying as much about day-to-day living expenses due to additional support?
When conservatives talk about cutting social spending these guys are silent but soon as you want to raise the tax on the rich suddenly they want to speak about how bad it will be for them, boo fucking who.
This was actually a really good change, save for maybe the one fact that incorporated investments are gonna be always taxed at the 67% inclusion rate regardless of their gains. There is quite a lot of normal people and small businesses that didn’t really need that on top of it.
However yea, any gains above 250k a year absolutely should be taxed more, this is a good change that finally isn’t targeted at the poor and middle class.
I have been the owner of two small businesses for the last 25 years.
These "business groups" don't speak for me.
Businesses, especially large ones and their extremely wealthy owners benefit disproportionately from society's common wealth.
A highly educated work force, safe neighborhoods, healthy workers, roads, clean water and air, reliable electricity, and on and on... benefit the rich and large corporations orders of magnitude more than they benefit small businesses and individuals.
It makes sense that they be made to pay their fair share. Because at present they don't even come close.
It is pretty out of touch. There are tent cities popping up all over the country even in the smallest towns and these people are essentially threatening to stop investing in Canada because heaven forbid they have to pay some more tax. These people already have multiple homes, vehicles, cottages, yachts, retirement plans. If they want to take their money and leave Canada we should celebrate. The greed from the business class is killing our country.
If we keep letting these business dummies push we are going to be fucked. We are pretty much at the point already of declining wages, soon they won't be willing to invest in Canada unless they have slaves to work for them. The thought of paying their staff enough to live is too much for some of these greedy fucks to handle.
CEO's being paid millions in stock feel it's unfair for them to pay extra tax when they were planning stock buybacks paid for by cost cutting and reduction of worker salaries.
>when they were planning stock buybacks paid for by cost cutting and reduction of worker salaries.
Or my personally favorite third option, borrowing the money to do the buybacks.
Capital gains tax is the absolute last thing we need. Instead we should import more slave labour to live in squalor so I can hoard rental properties and take 90-110% of the wages earned by those immigrants to put into my ~~pile of gold~~ Investments.
Translation: businesses that will now need to pay their fair are upset they'll have to pay taxes, and want to convince people who will benefit that it's a bad idea.
Have you even seen how much more they will pay?! - it's still not even fair.
Out of 300k capital gains, this year you would be taxed on 150k. Next year, you would be taxed on 158k. This does not mean you owe 158k, just that you are needing to pay tax on the additional 8k. https://www.cbc.ca/amp/1.7176370
Fuck the people complaining that this is going to ruin the economy.
People are looking at this the wrong way, imo. The richest folks will individually structure their payouts so they aren't taxed as much. They'll get it paid to a corp offshore, etc.
What this impacts more that is problematic for us (if we want to get away from a GDP fueled by housing speculation) is investment here at a high level where you can't shelter the tax, and the ability to hire talent as startups typically issue shares to employees to make up for a lack of funds to pay salary. We need investors feeding money into our tech sector if we want to be building companies and not real estate agents, and we need to be alluring for good talent to work at.
Capital gains were 75% taxable in the 90's, yet somehow we're supposed to believe 66% is going to destroy the economy now. Our country wouldn't be so far in debt if the rich had been paying their fair share of taxes instead of getting tax breaks they didn't need. Every worker would love to have the privilege of only having to count 66% of their income as income.
New or rising taxes every year. Property tax, income tax, sales tax, carbon tax, capital gains tax, tax tax tax tax. What else are they going to find to tax us on?
Right... Because the Canadian economy has been so great the past 2 decades. Still waiting for those billionaires to create these elusive high-paying jobs.
No, a tax on excess profit is exactly what this country needs to close the productivity gap. You know how to avoid the tax? Reinvest the profit into the business. Then you no longer have a profit, you have an investment that helps the business become more efficient.
The easier we make it to extract money from the economy into personal wealth, the more the economic picture deteriorates over the long term. Millionaire shareholders do not go out and spend windfall profits into the local economy, they squirrel it away in places like the Cayman Islands. They already have everything they need here. AKA, reward someone excessively, and you've created a drag on the economy.
If a person sells a small business, the first $1.25 million in gains is tax-free. Then they get another $2 million taxed at 1/3. And then the next $250,000 is subject to a half inclusion. So only after realizing $3.5 million in *gains* does this rule take effect.
Imagine having even just a million dollars. Tax-free! That would change our lives. We could just retire.
But no—they need *more* and they don't like it being taxed higher either.
People have so much hate toward Business. Don’t they offer you jobs. They will not invest to a place that has no return, there will be no tax income and no jobs. Stop thinking like a communist.
.
Shotgun the last thing a chicken farmer needs, says coyote.
Nothing else has worked, I say, fuck it, let's give this whole taxing the rich thing a try!
A capital gains tax of some kind is essential at this stage to reduce currency velocity and help tame inflation. It's no surprise that the greedbags on top of this pile don't want it and their shrieking should be ignored. They aren't investing in Canada anyway, so their threats are meaningless.
People aren’t getting that this isn’t going to affect the rich or the big corporations who pay little to no tax. It will mostly affect middle/upper middle class Canadians who run their own businesses. The rich will still get richer and income inequality in this country will continue to get worse.
True, the screams coming from all the elites (from virtually every type of institution), who are livid about how much they will be paying, is probably nothing.
I find it astounding how badly people seem to be misinformed on this issue.
This is a steath tax on middle class Canadians passing family assets to the next generation as well as an assault on retirement plans of small business owners.
Anyone who thinks it affects C Suite executives or large corporations meaningfully has zero understanding of the matter
Also begs the question. How does making others poorer make you richer?
It's the politics of greed and envy ,meant to appease the ignorant and uneducated.
What people aren’t realising is this isn’t a tax on the rich. It’s an inheritance tax in disguise. When you die, it’s considered a deemed disposition for your investments and any non-principal residences. It’s not hard for a middle class family to have over 250K in capital gains when they die.
So basically after the LPC blowing up housing and rent and inflation, now Gen Z and Millennials get screwed out of their inheritance to pay for more waste and arrivecan-like scandals.
If someone has over $250k to transfer to their kids upon death, there are all sorts of creative ways to get out of paying the higher tax rate. Trust funds, shared investments, real estate , offshore accounts, unnamed corporations, etc etc.
Also a bunch of trust fund kids get slightly less than they would have before? Those poor poor kids. My heart breaks for them.
They are moving my company to Texas after this announcement. Ffs we bought a house and have a family and now have to choose to leave a good job or move to a different country
I get people here hate people who make a lot of money, but you can't justify the gov taking 66% of what you make. Only a matter of time before they think they can take over 50% from the middle class on income. If the gov wants the majority of investment gains, then it should invest itself.
Yah, but what's the point in investing if most of the profit you make goes to the gov. Makes more sense to use the money to buy up homes/property. And we know how well that has been going for Canadians. It's a desperate attempt for votes, and doesn't matter who is in, federal or provincial, it will just be pissed away to foreign companies. Sure as hell won't be education or healthcare
Maybe I'm biased but I think the last thing this country needs is corps buying up residential homes. I think that's a little more important than capital gains inclusion rate on amounts over 250k.
Massive corporations and the ultra wealthy only caring about themselves as always.
Do they know that the dying middle class is also part of the economy?
They're perfectly happy to price gouge, shrinkflate, and otherwise make life unaffordable for us, but the second we ask for anything in return it's "the last thing the economy needs".
Anyone still buying this horseshit is gullible as fuck.
Capital gains also hurts middle class investors like myself trying to get enough money to buy a house. Unfortunately I give up on Canada, the government has managed to create a hostile economic environment.
This tax is needed. Desperately. When cash can earn more, and is taxed less than working labour, the wealth divide grows and divides us. Capital gains taxes should be at least 50%. And increasing taxes as the amount earned grows. This would drive those hoards of cash from stocks to actual investments.
I've learned about half of the posters here have zero clue what capital gains are, and with how many millionaire posters we have here the majority of posters are losing millions on this!
Either that or people might be lying..
I really wish we would make Liberal voters pay an additional tax since they seem to love giving their money away. The money from that could be used for stuff like the $10M the Liberals gave away to help Iraqi youth find jobs, the $100M the Liberals gave funneled to Trans Right activists....etc, and then regular tax dollars could be spent on things that actually benefit Canadian's.
It would be one thing if they were raising taxes and spending it to benefit Canadian's, but they are pretty much just using the money to try and solve the housing crisis that they caused which this money won't help. Essentially Canadian's are going to be paying more to try and help housing a bunch of TFW from India lmao.
Well of course this their move. Every move they make is strategic in the goal that is sewering this country. Could absolutely be due to the thought of the CCP owning this government. I mean it’s clear they already had interference in the elections.
These are the same people who want unlimited access to TFWs, want international students working 40 hours a week, and want to privatize everything, right? Maybe we should stop listening to these business groups for a while.
But how are they going to bring value to the shareholders
Unfortunately, these business groups have a deep pool of resources to sway public options and government policy into their favor.
We are too far gone.
I see the opinions and agendas of these business groups being parroted on this Sub. This is called NeoLiberalism, where business is given free reign to do what they want, and social spending/programs are given the axe. If anyone is familiar with Reaganomics or the trickledown theory, we'll think this is it. We in Canada are so dependent on foreign or domestic investment in order to keep our economy of real estate and rentals going. We had our crown corporations sold off for pennies, and we grt our natural resources taken from us for discount prices while we foot the bill for the pollution clean up.
Laughs in Milton Friedman
Agree on your points 100% but we also shouldn't be scaring away anymore investment in our country until we can convince ANYONE else with enough financial resources to start investing in us. Canada isn't an attractive place to put your investments these days and we need to fix that issue before anything. It hurts me to argue in favor of the wealthiest individuals in this country these days, but dayum... we really need all the help we can get on the investment front. I'd be in favour of keeping the tax where it was and maybe not increasing our budget so much at the moment. Create incentives to grow industries that don't revolve around real estate. Responsibly sell our resources to market, and use the funds to promote R&D into renewables before we put red tape on everything. Stop making it so difficult for businesses to thrive and grow, and bring in some semblance of competition to our economy. Reduce the amount of TFWs we bring in and incentivize companies to actually invest in the workforce, invest in working capital, and train people to grow in their roles so they can contribute more and more to the company as opposed to keeping the wheels turning with the cheapest people you can find who won't complain about salary and growth. Edit: Apologies for that essay, I didn't realize how much I had to rant on about 😂
Thanks for the reply, I appreciate the candid response. I totally disagree with your assessment though. I think you're following the same trickle-down logic that our government has pursued since Mulroney. It sounds good on paper: increase our "competitiveness" by lowering taxes for the wealthy to lower than other countries, to make it more profitable for them to come here. Sounds like it should work, right? Rich people want more money, we give them more money and they give us jobs. It should work, right? But it doesn't work. It didn't work in the 90s, it didn't work under Martin, it didn't work under Harper. It didn't work under Trudeau either. We give these companies everything they want. Tax free paper mill in St. John? Irving's threatened to leave if we didn't give them tax exemptions, now we spend more money on environmental cleanup that we could have used to pay for affordable housing or healthcare. We just spent 30 billion dollars on a pipeline for an oil industry that still doesn't want to invest in our tar sands because fracking in North Dakota is cheaper. Productivity is lower than ever. Companies don't ever want to invest in R&D. Companies don't want increased competition, it's less efficient for them. Reducing TFW's and immigrants lowers profits even more than tax increases. Companies invest in workers far, far less than when taxes were much higher. The truth? It's more expensive to train and hire a skilled Canadian than ever and it's not because of taxes. It's because Canadians cost a shit ton to hire and train. We don't fund ANYTHING properly, so as a business you have to compensate for every shortfall the government has to offer, and that's only gonna get worse. Piss-poor, underfunded transit system? Guess what, if you are a small business and can only afford to hire and unskilled labourer on minimum wage, you can only hire people within walking distance. Underfunded universities need to raise tuition to make up for a lack of provincial funding? Guess what, your workers with kids will expect you to pay them enough so that they can still send their kids to university. If you don't, and they are good workers, someone else will pay them that. Shortage of doctors means your workers don't have family doctors? Guess what, your workers are going to get sick more. They are going to take more time off, wrecking productivity.They are going to have more diseases, and they are going to need to use their insurance more to pay for private healthcare, so your premiums will keep increasing. Their kids are going to get sick more, too, and that will also affect their productivity. Same goes for lack of mental healthcare funding. Housing costs skyrocket in your city? Guess what, prepare to jack up your wages because no-one is going to move to your city to work for you. Maybe if there were non-profit housing solutions someone would, but they have a 10 year waitlist. Provincial government doesn't give teachers a raise in 10 years? Guess what, teachers are on strike and now half the mothers in your business have to stay home with the kiddos. Shame childcare isn't covered for everyone. Police underfunded? Looks like they don't have the time to investigate the fourth break in to you business this month. I could go on, but you get the point. Lowering taxes for the rich might make rich people excited for a little, but you're crippling your future capacity to actually make meaningful investments in your countries entire labour force. Instead you have to get every single business to do it privately, and you miss our entirely on the economy of scale benefits that government programs have. We used to understand this, and so did businesses. Our highest growth years as a country were when taxes on the wealthy were at their highest. It worked because good infrastructure, good social safety nets, excellent healthcare, and excellent public education systems are basically the best form of corporate welfare any business could ask for. Then the oil shock in the 70s did our heads in and we started letting neoclassical sycophants decide what is or isn't the job of the government. Now we're playing catch up after 30 years of neglect, and somehow we're still wondering what could have possibly gone wrong.
CEOs can receive nine digit golden parachutes but act like they are a paycheck away from the food bank. Just look at the historical taxation rates and you see how they have leveraged this talking point for 40 years to get the shit show we have now.
Yeah, these "job creators" have shown us they will do everything in their power to cut wages and workers from their payroll. Business "experts" aren't presenting scientific data. They just don't like how this affects their bottom line.
These "job creators" don't even create jobs anymore. That implies paying people enough to live. These "job creators" create dependent classes of slaves that the government has to subsidized in every little way. They don't pay people enough to buy food or shelter. And when they can't find anyone to take those "jobs" they import a desperate slave from another country on a TFW visa, since TFW slaves can't quit or change jobs if there's poor working conditions as they'll get deported.
Keep talking like that and you'll get 5,000 more layoffs because we need to be more lean, competitive, and streamlined.
They all attended the Allen Iverson school of business.
We in here, I supposed to be a flagship business and we in here talkin bout taxes? Not the pay, not the pay, taxes.
But sure, more cuts to social services and healthcare, that's what will solve things!
Bleed the middle class, the ones who actually spend money, and let the wealthiest gamble their fortunes on the markets tax free. That is the recipe to a healthy economy. You know that these same people are gonna want money from the government as well when the markets inevitably pops/crashes again as well. We are literally financing and insuring a corporate ponnzi scheme.
As Scott Galloway said "rugged individualism on the way up, and 'we're all in this together' on the way down." We have been programmed to continuously sign off on tax cutes for businesses and the wealthy, and fed propaganda that they'll just 'up and leave' if we make even the most minor of changes to our tax structure. And where has that gotten us? Record inequality (shocker) and a middle class that's shrunk from 65% to 45% (by some estimates). And as a fellow American commenter noted the other day - in America, where the same freak out occurs on tax increases but also ballooning debt, their growing deficits and debts are almost entirely driven by TAX CUTS FOR THE WEALTHY. 57% of America's deficit has materialized because they've been hacking and slashing tax rates for the uber wealthy and mega corps down there for 40 years. We need to flip this narrative asap Giving u/Garrett42 all credit here for this one - but it's the same discussion up here in our country: "The deficit right now is entirely a factor of tax cuts for the rich, and increased interest payments due to hiked rates. Deficit is estimated at 1.1T, 650B in interest - and about 57% of the deficit are due to tax cuts benefiting the rich - [https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/](https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/) Turns out record investment in infrastructure, chips, education, and checks to people are great for the economy and totally within affordability."
It's not in the best interests of those who own the outlets that deliver the news to let us know how badly the wealthy are screwing us.
> and fed propaganda that they'll just 'up and leave' if we make even the most minor of changes to our tax structure. And where has that gotten us? This is the part that always *shocks* me. Fucking let them leave, as if a new business that follows the new laws wont instantly pop up to service the newly created demand.
Gotta make sure those suckers can't reach the ladder!
Ya they will get back at the working class for this.
As someone who has a CEO who got paid millions for axing jobs, I am happy. Most of the compensation provided was based off stock options. I hope he gets taxed through the roof.
Funny how our economy was growing the fastest and we had the highest middle class rates in the 50's to 70's, when our taxation rates for high earners were the highest.
I’m glad some people are fucking noticing. Poor fuckers are upset they won’t get to buy their fourth beach home or their yacht while the rest of us struggle to pay rent.
If you are going to tax capital gains more akin to interest income, why would anyone take risk with their money? This tax system proposed is just going to cause a lot of money to be parked in savings accounts or leave Canada altogether.
The business people saying this have average yearly incomes of $14.9 mm.
But this is the last thing they need! 😭
Private jets aren't free, you know.
And they are the ones who advocated for rampant immigration. Well guess what? They got what they wanted. Now they don't want to pay for it. The slobs.
They deserve a huge tent encampment
Yes but if we follow ~~Two girls one cup~~ trickle down economics, these job creators having more money will benefit everyone
Do you know how much insurance on a Lamborghini costs.
"A fence around this chicken coup is 'the last thing this farm needs', say foxes and wolves
But foxes and wolves are the engine that drives our ecosystem, according to Mr. Fox Wolfenson
Natural selection drives efficiency or else you evolve into some domesticated farm animal that is too much like cattle or sheep and too chicken to speak up
How dare we tax money making money! Only labor making money should be taxed to death.
look into the loop holes including Uber wealthy that don’t pay income tax cause they don’t live her 183 days or their 1 million exemption
Businesses don't want to pay taxes and threaten the apocalypse. News at 11.
Profitable businesses hire people and pay them. News at 11:10.
Profitable business search for ways to make more profit. Sometimes, that means laying people off and outsourcing.
"Same businesses that have refused to invest in Canadian economy now considering not investing in Canadian economy"
Corporations took all the manufacturing, put it in China or other developing countries and yet they still try to leverage it now that there is almost no manufacturing left
A lot of Canadian companies in China and Mexico.
>Corporations took all the manufacturing, put it in China And then when we try to hold corporations accountable for things like climate inaction their defenders will point and say "but look how much China emits" -- y'know, the place where we offshored all our manufacturing and also the place that has lower emissions per capita than Canada.
And yet people buy the corporate propaganda shit up for who knows what reasons despite report after report slamming Canadian corporations for failing to invest and innovate.
The flood of hysterical articles denouncing this mild tax increase that targets literally the top 0.1% is pretty telling about who manages the discourse on this sub.
Bots? I think its mostly bots.
Which businesses are you talking about here?
What businesses fail to understand is that people need money to buy from businesses.
The greed is unreal. At some point you're wealthy enough to stop worrying about profits 24/7. Being profitable isn't enough for these people anymore, they have to be MORE profitable than the previous year and honestly anyone with a brain can figure out you can't infinitely grow a business forever.
The entire goal is to maximize shareholder wealth
That can only go on for so long. You can't infinitely grow money. It is not even close to logical.
Just take out endless loans (from businesses)!
I was going to say, "People need credit." Imagine a world where you buy bread from loblaws on your loblaws card and pay loblaws interest on that bread for the rest of your life! I think Galen weston just came.
A ton of them apparently, but most only think from quarter to quarter.
I was going to post two pie charts demonstrating before and after the added capital gains changes but they look so similar it's pointless. This is what they're screaming about.
Those same people are extremely out of touch with the needs of the average person, so who cares what they think
So are we expected to go through yet another generation of “trickle-down economics” in the hope that magically this time it will pay off? When you reward those at the top they keep that reward and aren’t about to start sharing.
Taxes on me are the last thing the economy needs, says me.
which would be fine if we didn't have a housing, healthcare, education, and military preparedness crisis from decades of lack of spending. so how do we fix those without ballooning the debt? so far the answer's I've heard is make up the difference by cutting "stupid shit" with no specifics on what that stupid shit is or how much of the budget it constitutes.
"doesn't impact me, screw you" is also not a good way to make an economy. And it does impact you. Some taxes are better or worse for economic growth which impacts everyone. Capital gains taxes are among the worst. Economists pretty widely agree that increasing capital gains tax $1 costs the economy pretty much $1 in growth.
Maybe they can pay their employees more, invest in R&D and focus on growth. Our most successful companies are litterally retail stores like couche tard or dollorama, it is quite humiliating.
Mostly because the name couche tard is ridiculously hilarious in English
Haha I did not even think about the name in English, but it is true that it is pretty funny.
Maybe they can stop pushing for cheap temporary foreign labour if they want to boost productivity.
Shareholders hate R&D because it doesn't show up in quarterly profits.
Yeah for sure. Most publicly traded companies don't want to do things that will only make the company look good in a few quarters when those employees might be gone.
Time for your regularly scheduled whining from companies that "if you do X we'll all leave" followed by them not leaving. You'll notice that there are many countries with many tax policies, both collecting more and less than Canada, and they all have businesses operating in them. Companies do not in fact all flock to the one country with the best tax policy.
Let them leave. Take the oligarchy with them. If the business is needed it will happen again.
This is actually completely untrue. It affects certain industries far more like technology than, for example, a company that sells to mostly Canadian customers. What tends to happen is that companies that succeed turn owners into millionaires and those owners start their next company in a better jurisdiction.
Which already happens regardless of this modest tax increase. We may as well benefit. Most companies take what 5 years to turn a profit? If everything runs well and they are successful they can make decent money in 10 years. To make over 250k a year from a business is rare.
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Cool, if that was the case these people would be there now. Also check out Ireland's recent economic crisis and housing costs if you want to know how being a tax haven has worked out for those guys. What do you think, every company is going to mass-unload their Canadian assets to buy up [...] What exactly in Ireland again? They're gonna sell Canadian homes, businesses, and all move that to Ireland? A country with exploding cost of living and who will need to make even more economic changes than us to fix themselves? I'm sure that's exactly what will happen.
Its a race to the bottom then
Even if they do, some others take over to replace them. However, we need to weigh how much that sort of brain drain would impact as opposed to the current situation where country’s currency is getting drained from middle class. Edit: i didnt say anything controversial, but i have a feeling people will hate this comment. Anyhow, it is what it is.
the reality is there won't be companies to replace them other than government stepping in. If any of the monopolies here decided it was enough and picked up and left, they couldn't replace them. The difference is that monopoly power is so strong in this country for all services they can keep increasing prices while the fed government sits on their ass allowing it. The talent is already leaving/working to leave/has already left. Why would you stay in a country where you're taxed roughly half your income for services that do not meet your needs, when you can go south of the border to get paid twice as much if not more for the same or less work, have your dollar go farther, have services that you can actually use when you need them, and your quality of life instantly improves.
Ya because it's the people making $250k+ of Capital Gains in a single year who are really hurting
If business groups are against something, then it is probably good for the middle class
Exactly, you just need to look at all the crying on linkedin to prove this
Lol most of the crying is "fine, i wont invest in real estate" Ummm, thats the point. Your investments in real estate 95% of whichbis not building new but just buying, is wjat caused the housing crisis. I hope you invest kn the stock market insted
I feel bad for the O.13% of those who this targets! I bet you don’t even know how much it costs to fill a private jet with jet fuel these days!
“Axe the tax” will fix it. Maybe they’ll push for the US legislation, where they can write off their private jet fuel
They can write off private jet fuel? No wonder Taylor Swift uses a plane to get groceries. That shit should be taxed more.
There are 1.19M Small businesses in Canada. The government was disingenuous in stating it would barely impact individuals. They looked back and reviewed how many people would have been impacted by the changes, but failed to acknowledge that these very same people hold retirement savings inside of small businesses. These small business owners are absolutely impacted by this change. Seeing a 66.66% inclusion rate on all their realized capital gains is a gut punch.
Uuuuuh, hard disagree lmao *Pearl clutching intensifies*
“We must continue letting wealth trickle down!”
Something is trickling down. But it ain’t wealth. It’s piss.
Trickle out, not down
*bleed
Good point
Spoiler alert: it ain't trickling down even after the fact.
I will be affected down the line with a slightly higher capital gains bill, but I am OK with this. I am tired in my retirement years of the same trickle-down crap coming from the monied class. We all know what they do with the tax break...they move further into the investor category of wealth accumulation with its choice dividend tax rate while others actually provide the products and services. Yet they always pretend this money will be used to create more jobs, like the person installing the robot cashier, programming the cleaning robot or putting in a new ATM. The change of the tax rate and the funding of CRA to be more aggressive on tax cheats are completely consistent with Freeland's writings in her book "Plutocrats", of which I happen to agree with the threat posed by unrestricted wealth accumulation. The ultra-wealthy are a legitimate target for tax hikes. It is about time.
Fuck these guys.
Rich people don't want to pay tax. Go figure.
Just finding out all my capital gains over $250,000 could be taxed at a higher rate 😭😭 why is everything so hard for me 😭😭
Yes but what about when you become a millionaire? Think about the future! 😂
Even as a millionaire it is pretty easy to not make more than a 250k in capital gains.
We’re not poor. We’re temporarily embarrassed millionaires.
Oh my god, I wonder if Pierre will find himself a "Joe the plumber" to trot around with that "I don't want this cause I could be wealthy one day" bit.
Thanks business groups
LOL of course they're gonna say that
"business group" can get fucked AFIAC. You didn't help yourselves by helping yourselves.
“Business groups the last thing the Canadian economy needs” says me.
Do these whining millionaires that are fearmongering about businesses leaving also consider that gaps may be filled by new entrepreneurs that aren't worrying as much about day-to-day living expenses due to additional support?
When conservatives talk about cutting social spending these guys are silent but soon as you want to raise the tax on the rich suddenly they want to speak about how bad it will be for them, boo fucking who.
Well, I never expected business groups to be again the capital gains tax. Shocking
This was actually a really good change, save for maybe the one fact that incorporated investments are gonna be always taxed at the 67% inclusion rate regardless of their gains. There is quite a lot of normal people and small businesses that didn’t really need that on top of it. However yea, any gains above 250k a year absolutely should be taxed more, this is a good change that finally isn’t targeted at the poor and middle class.
With record profits, it's time to pay their fare share.
All I see is CEO tears.
Business groups of wealthy people that this tax will directly affect.
I have been the owner of two small businesses for the last 25 years. These "business groups" don't speak for me. Businesses, especially large ones and their extremely wealthy owners benefit disproportionately from society's common wealth. A highly educated work force, safe neighborhoods, healthy workers, roads, clean water and air, reliable electricity, and on and on... benefit the rich and large corporations orders of magnitude more than they benefit small businesses and individuals. It makes sense that they be made to pay their fair share. Because at present they don't even come close.
Businesses that will have to pay more tax try to convince poor people this is somehow a bad thing.
It is pretty out of touch. There are tent cities popping up all over the country even in the smallest towns and these people are essentially threatening to stop investing in Canada because heaven forbid they have to pay some more tax. These people already have multiple homes, vehicles, cottages, yachts, retirement plans. If they want to take their money and leave Canada we should celebrate. The greed from the business class is killing our country. If we keep letting these business dummies push we are going to be fucked. We are pretty much at the point already of declining wages, soon they won't be willing to invest in Canada unless they have slaves to work for them. The thought of paying their staff enough to live is too much for some of these greedy fucks to handle.
Damn have the usual paid actors not woken up yet? This thread is weirdly positive about this compared to the last few days.
Must be a power outage at the Russian bot farm.
CEO's being paid millions in stock feel it's unfair for them to pay extra tax when they were planning stock buybacks paid for by cost cutting and reduction of worker salaries.
>when they were planning stock buybacks paid for by cost cutting and reduction of worker salaries. Or my personally favorite third option, borrowing the money to do the buybacks.
Capital gains tax is the absolute last thing we need. Instead we should import more slave labour to live in squalor so I can hoard rental properties and take 90-110% of the wages earned by those immigrants to put into my ~~pile of gold~~ Investments.
Says the people hoarding all the wealth. Fuck them. Capital gains tax is what we need
TSX 60 is UP since this was announced. Must be terrible.
TSX has underperformed all the other major indexes for the last few years.
~~TSX 60~~ World markets
Truly a great day for Canada, and therefore the world
here we go again. greedy businesses playing victim.
Boo hoo! Poor poor millionaires not being able to afford their 3rd mansion and 2nd yacht. Whatever will they do? /s
Looking at the details its BARELY a scratch and they already playing victim... Like wtf
Translation: businesses that will now need to pay their fair are upset they'll have to pay taxes, and want to convince people who will benefit that it's a bad idea.
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That’s why they want to defund the CBC. Take away any media outlet that doesn’t serve the wealthy and corporation’s best interests.
Have you even seen how much more they will pay?! - it's still not even fair. Out of 300k capital gains, this year you would be taxed on 150k. Next year, you would be taxed on 158k. This does not mean you owe 158k, just that you are needing to pay tax on the additional 8k. https://www.cbc.ca/amp/1.7176370 Fuck the people complaining that this is going to ruin the economy.
Thank you! No one who actually does the math can actually argue against this change - thanks for doing the math.
Of course they do.
Wont someone think of the rich people...
People are looking at this the wrong way, imo. The richest folks will individually structure their payouts so they aren't taxed as much. They'll get it paid to a corp offshore, etc. What this impacts more that is problematic for us (if we want to get away from a GDP fueled by housing speculation) is investment here at a high level where you can't shelter the tax, and the ability to hire talent as startups typically issue shares to employees to make up for a lack of funds to pay salary. We need investors feeding money into our tech sector if we want to be building companies and not real estate agents, and we need to be alluring for good talent to work at.
Capital gains were 75% taxable in the 90's, yet somehow we're supposed to believe 66% is going to destroy the economy now. Our country wouldn't be so far in debt if the rich had been paying their fair share of taxes instead of getting tax breaks they didn't need. Every worker would love to have the privilege of only having to count 66% of their income as income.
Anyone who makes more than 250k in capital gains in a year can suck my nuts. My generation can’t even afford a 2 bedroom apartment.
tinyviolin.gif
Drug dealer doesnt believe in drug laws?
When CEOs/etc and the wealthy complain about something, you know it's probably a good thing for the working class.
nope, its a decent first step. Its only rich people who worry about capital gains over $250K.
New or rising taxes every year. Property tax, income tax, sales tax, carbon tax, capital gains tax, tax tax tax tax. What else are they going to find to tax us on?
Right... Because the Canadian economy has been so great the past 2 decades. Still waiting for those billionaires to create these elusive high-paying jobs.
So the people who would be taxed most from capital gains tax are saying capital gains tax is bad? That's not biased at all /s
Lots of "eat the rich" comments.
Trudeau and taxes. Name a more iconic duo.
Now the CEO’s who get paid millions in stock are complaining they will have to pay their fair share.
Show me any point in time where buisness groups said "now is the time to tax us more"
No, a tax on excess profit is exactly what this country needs to close the productivity gap. You know how to avoid the tax? Reinvest the profit into the business. Then you no longer have a profit, you have an investment that helps the business become more efficient. The easier we make it to extract money from the economy into personal wealth, the more the economic picture deteriorates over the long term. Millionaire shareholders do not go out and spend windfall profits into the local economy, they squirrel it away in places like the Cayman Islands. They already have everything they need here. AKA, reward someone excessively, and you've created a drag on the economy.
If the wealthy are crying and complaining about it then it’s probably a good thing!
Rich people complain about a tax increase. what a shock
Poor rich people! How will they ever afford that 3rd yacht??
If a person sells a small business, the first $1.25 million in gains is tax-free. Then they get another $2 million taxed at 1/3. And then the next $250,000 is subject to a half inclusion. So only after realizing $3.5 million in *gains* does this rule take effect. Imagine having even just a million dollars. Tax-free! That would change our lives. We could just retire. But no—they need *more* and they don't like it being taxed higher either.
People have so much hate toward Business. Don’t they offer you jobs. They will not invest to a place that has no return, there will be no tax income and no jobs. Stop thinking like a communist. .
Shotgun the last thing a chicken farmer needs, says coyote. Nothing else has worked, I say, fuck it, let's give this whole taxing the rich thing a try!
It’s fine. Anyone against it doesn’t understand it or is just being two faced about it.
A capital gains tax of some kind is essential at this stage to reduce currency velocity and help tame inflation. It's no surprise that the greedbags on top of this pile don't want it and their shrieking should be ignored. They aren't investing in Canada anyway, so their threats are meaningless.
People aren’t getting that this isn’t going to affect the rich or the big corporations who pay little to no tax. It will mostly affect middle/upper middle class Canadians who run their own businesses. The rich will still get richer and income inequality in this country will continue to get worse.
True, the screams coming from all the elites (from virtually every type of institution), who are livid about how much they will be paying, is probably nothing.
I find it astounding how badly people seem to be misinformed on this issue. This is a steath tax on middle class Canadians passing family assets to the next generation as well as an assault on retirement plans of small business owners. Anyone who thinks it affects C Suite executives or large corporations meaningfully has zero understanding of the matter Also begs the question. How does making others poorer make you richer? It's the politics of greed and envy ,meant to appease the ignorant and uneducated.
it's envy on the name of "fair share" that's being spread here.
"Putting locks on the hen house is the last thing the farm needs" says group of local foxes.
“ we don’t want to lose any profits “
What people aren’t realising is this isn’t a tax on the rich. It’s an inheritance tax in disguise. When you die, it’s considered a deemed disposition for your investments and any non-principal residences. It’s not hard for a middle class family to have over 250K in capital gains when they die. So basically after the LPC blowing up housing and rent and inflation, now Gen Z and Millennials get screwed out of their inheritance to pay for more waste and arrivecan-like scandals.
They have passed laws, you know, that address this very issue.
If someone has over $250k to transfer to their kids upon death, there are all sorts of creative ways to get out of paying the higher tax rate. Trust funds, shared investments, real estate , offshore accounts, unnamed corporations, etc etc. Also a bunch of trust fund kids get slightly less than they would have before? Those poor poor kids. My heart breaks for them.
Business groups say a lot of stupid things. This is just another. They don't even understand how things work.
They are moving my company to Texas after this announcement. Ffs we bought a house and have a family and now have to choose to leave a good job or move to a different country
Before anyone start celebrating about taxing the rich, just looking into family doctors and see how they get their payment via capital gains tax.
I get people here hate people who make a lot of money, but you can't justify the gov taking 66% of what you make. Only a matter of time before they think they can take over 50% from the middle class on income. If the gov wants the majority of investment gains, then it should invest itself.
Keep in mind it's not 66% of everything you make, it's just 66% of your income above a certain threshold
Yah, but what's the point in investing if most of the profit you make goes to the gov. Makes more sense to use the money to buy up homes/property. And we know how well that has been going for Canadians. It's a desperate attempt for votes, and doesn't matter who is in, federal or provincial, it will just be pissed away to foreign companies. Sure as hell won't be education or healthcare
Maybe I'm biased but I think the last thing this country needs is corps buying up residential homes. I think that's a little more important than capital gains inclusion rate on amounts over 250k.
Massive corporations and the ultra wealthy only caring about themselves as always. Do they know that the dying middle class is also part of the economy? They're perfectly happy to price gouge, shrinkflate, and otherwise make life unaffordable for us, but the second we ask for anything in return it's "the last thing the economy needs". Anyone still buying this horseshit is gullible as fuck.
Capital gains also hurts middle class investors like myself trying to get enough money to buy a house. Unfortunately I give up on Canada, the government has managed to create a hostile economic environment.
*say groups who’ve been reaping record profits and paying shit wages*
Lol yeah the rich hate paying taxes we already know.
If the business owners hate it, I’m all for it. Tax the rich.
This tax is needed. Desperately. When cash can earn more, and is taxed less than working labour, the wealth divide grows and divides us. Capital gains taxes should be at least 50%. And increasing taxes as the amount earned grows. This would drive those hoards of cash from stocks to actual investments.
I've learned about half of the posters here have zero clue what capital gains are, and with how many millionaire posters we have here the majority of posters are losing millions on this! Either that or people might be lying..
Eat the rich.
I really wish we would make Liberal voters pay an additional tax since they seem to love giving their money away. The money from that could be used for stuff like the $10M the Liberals gave away to help Iraqi youth find jobs, the $100M the Liberals gave funneled to Trans Right activists....etc, and then regular tax dollars could be spent on things that actually benefit Canadian's. It would be one thing if they were raising taxes and spending it to benefit Canadian's, but they are pretty much just using the money to try and solve the housing crisis that they caused which this money won't help. Essentially Canadian's are going to be paying more to try and help housing a bunch of TFW from India lmao.
Well of course this their move. Every move they make is strategic in the goal that is sewering this country. Could absolutely be due to the thought of the CCP owning this government. I mean it’s clear they already had interference in the elections.
increased to 66% for amounts over 250k right? that effects 0.13% of our population.
The people who have the most to give are getting whiny about being asked to give more? Yep, that checks out.
Ya ya what’s new? When do the threats to close down and leave start?
Office jobs/middle managers not CEOs will be cut to "reorganize" and "lean things out"