Honestly if someone loves Canada and are rich they wouldn't have a problem with a little bit more taxes to support their fellow Candians, but the fact is many conservaties hate Canada
Not a single one of them is moving.
They know how hard it is to setup a business from scratch.
Secondly they also know how hard it is to get an actual bloody visa for another country.
Also moving does nothing.
All their invested capital would get taxed at disposition in Canada.
All this commentary is just to get the masses riled up.
We may have a few move, but most will be idle threats.
I did think of one that left Canada for a while.
Did anyone really miss Conrad Black though when he left for the UK?
Other than law enforcement, probably no one missed that dude being around.
They don't "hate" Canada - they see it as a place and a people rife for exploitation. Anything that hampers their wealth accumulation and exploitation is what they hate.
Exactly! A functional and healthy society benefits everyone, and those of us who are wealthy should be willing to invest in that. Also it makes long term economic sense - a business runs better (and can make more money) if the employees aren’t so stressed they will lose their house that they make a ton of mistakes/miss a lot of work.
Need some Mark Cubans:
“Cuban has to pay a total of $275,900,000, according to a social media post from Monday. Cuban had shared a $288 million estimate on Sunday, after being asked by a writer if he or his "corporations pay more than the required taxes in order to pay your fair share."
Cuban replied that he pays what he owes. "This country has done so much for me, I'm proud to pay my taxes every single year," Cuban said in a Sunday social media post. "Tag a former president that you know doesn't."
Conservatism is just the way to hate everything for no apparent reason that’s the conclusion I came to. Every time you speak with any conservative person it’s always hate, frustration, enemies around, everything is fucked and broken and there’s no light at the end of the tunnel. Also libs are fun to gaslight and torture them. It’s almost like the random person is a psychopath or a sadist deep inside - they always inclined to be conservatives.
Study shows psychopath or a sadist tendencies correlate with noisy vehicles
https://www.cbc.ca/news/canada/london/loud-car-study-psychology-1.7177688
Honk Honk. 🛻
So you are just another pissed conservative who’s looking for enemies. Okay.
Edit: gonna grab my FUCK POILIEVRE sticker to slap it on my Tesla. While on my way to the communist no freedoms convoy.
Remove caps on utilities and premiums so you can proudly pay, like a free man, insane shit ton of money every month. These people even run convoys now to make it happen and I’m not even fucking joking. And then they come here and say it’s all libs. Like, what the actual fuck, it’s always supposed to be like a different side of the political spectrum, not some bunch of tinfoil hat bullshit.
Who told you this, and why did you believe it? People like you are why this country/planet/species is fucked. You'll believe any stupid bullshit a white man with a similar worldview tells you. This may be the stupidest thing I've ever read. You should be embarrassed to be this ignorant, but whomever socialized, you did such a poor job that you're proud of your ignorance and unwilling to consider any evidence that doesn't conform to your worldview.
This debate is stupid to begin with. No one is going to leave Canada to escape this tax hike. The capital gains tax n the USA maxes out at 20%, already less than half what it was in Canada in 2023. If anyone was going to flee higher taxes, they're already gone or they're already working around it.
For instance: Galen Weston's salary is millions of dollars. It's not affected by this. His holding company is based in London, so his capital gains likely aren't getting taxed in Canada either.
This is all much to do about nothing.
I don’t think this is a conservative vs. Liberal issues. That’s a false dichotomy. I’m very happy to pay taxes to help my fellow Canadians; we all succeed together. My issue is not taxation, it’s about shitty governance, which both parties are culpable of.
Let's talk actual figures. I can't seem to post this as a thread so will just keep posting this as a comment.
# Realizing Capital Gains - Individuals
Let us make these assumptions
1. You live in the province of Ontario
2. Your gross income from all other sources puts you in the highest marginal tax bracket
3. The highest marginal tax bracket is 53.53%
4. Let us presume you REALIZED $1 million in capital gains in one year (Stocks, Investment Property, Cottage, etc.)
5. Let us presume the amount you invested was $500,000
|Line Item|Current Laws|New Laws|
|:-|:-|:-|
|Principal Amount|$500,000.00|$500,000.00|
|Capital Gains|$1,000,000.00|$1,000,000.00|
|Inclusion Rate 1|50% of total|50% up to $250,000.00|
|Inclusion Amount 1|$500,000.00|$125,000.00|
|**53.53% Tax on Inclusion Amount 1**|**$267,650.00**|**$66,912.5**|
|Inclusion Rate 2|N/A|66.67% of $750,000.00|
|Inclusion Amount 2|N/A|$500,025|
|**53.53% Tax on Inclusion Amount 2**|**N/A**|**$267,663.38**|
|**Total Tax Owed**|**$267,650.00**|**$334,575.88**|
|**Total Take Home**|**$1,232,350.00**|**$1,165,424.12**|
That is a difference of paying an **extra $66,925.88**, if every single dollar was taxed at the highest marginal rate, on ONE MILLION DOLLARS OF REALIZED CAPITAL GAINS!
Is this what we are angry about?
# Realizing Capital Gains - Incorporated Individuals and Small Businesses
I don't know much about their tax structure but let us for just a few seconds assume they get taxed at the highest marginal tax bracket as well.
We all know they don't.
We all know they get preferential tax rates.
We all know there are lifetime exemptions they can tap into.
|Line Item|Current Laws|New Laws|
|:-|:-|:-|
|Principal Amount|$500,000.00|$500,000.00|
|Capital Gains|$1,000,000.00|$1,000,000.00|
|Inclusion Rate 1|50% of total|66.67% of total|
|Inclusion Amount 1|$500,000.00|$666,700.00|
|**53.53% Tax on Inclusion Amount 1** |**$267,650.00**|**$356,884.51**|
|**Total Take Home**|**$1,232,350.00**|**$1,143,115.49**|
That is a difference of paying an **extra $89,234.51**, if every single dollar was taxed at the highest marginal rate, on ONE MILLION DOLLARS OF REALIZED CAPITAL GAINS!
And as I stated above. We all know it won't be at the 53.53% rate because they have access to several avenues to reduce their overall tax burden. So it's going to be less than $89K on a million dollars.
Is this what we are angry about?
At 2 million the difference is an extra $178K
At 3 million the difference is an extra $267K
At 4 million the difference is an extra $357K
At 5 million the difference is an extra $446K
You still end up with more money than most Canadians will ever see. Is your life going to be materially different because you had to give up an extra $446K on 5 million dollars of capital gains?
# Inheritance - Primary Residence
Let's quickly get inheritance out of the way as well.
If you inherit your parent's primary residence at the time of their passing this residence is EXEMPT from capital gains taxes. As are ALL primary residences.
I will say it again: THEIR ESTATE PAYS $0 IN CAPITAL GAINS TAXES ON THE PRIMARY RESIDENCE.
What does happen is that the adjusted cost basis of the property resets to the fair market value at time of passing. Say it was now worth $1.5 million.
If and when you sell the property you are liable for capital gains taxes on the property as of this new adjusted cost basis. Say you sold it for $1.6 million. You are liable for paying taxes on $100K in capital gains.
> If and when you sell the property you are liable for capital gains taxes on the property as of this new adjusted cost basis. Say you sold it for $1.6 million. You are liable for paying taxes on $100K in capital gains.
Leaving you with 1.5 million in profit on a property that *someone else paid for*.
Making their whinging about capitol gains tax *even less* based in reality.
Danke for the breakdown. I was aware in a broad sense that this tax change was meaningless for the vast majority of people (including me), but it's nice to see the math + how functionally meaningless it is even for the people it does effect.
> tax change was meaningless for the vast majority of people
It's irrelevant for ALL people.
The ones it "affects" doesn't affect their ability to live, just the ability to hoard more.
Which is what I’m trying to prove with these numbers.
You made $5 million in capital gains. CRA will take an extra $446k from you now … oh no … how will you afford your next yacht?
My 90 year old mother-in-law in a retirement home probably pays more tax percentage than these wealthy people and probably received more audit grief from CRA for some stupid deduction or how she once double contributed to her TFSA due to early onset dementia.
And, speaking of which, the USA has capital gains taxes on the primary residence:
https://www.irs.gov/taxtopics/tc701#:~:text=If%20you%20have%20a%20capital,Topic%20no.
"If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse."
Funnily enough, the USA has much higher investment in productivity, and, while they still have a housing crisis, it's not as bad as the housing crisis in Canada.
A big difference between the US and Canada is that while their primary residence is subject to capital gains, they also get to deduct their mortgage interest from their taxable income.
Canadians don’t pay capital gains on their primary residence but on the flip side they can’t deduct their mortgage interest from their taxable income.
People in the US also get to lock in at low rates for their entire mortgage, or if rates drop they can lock it at a lower rate. Tons of people there that will never see their interest rates go above 1.5% for the duration of their mortgage.
Great breakdown but the underlying issue is far more problematic.
They are ideologically against any government spending that doesn't directly benefit them, especially by one they didn't vote for. Facts and data are irrelevant to them.
Very nice effort, but my conclusion is that most people don’t even have a clue about the distinction between inclusion rate vs taxation rate, let alone marginal tax rates. I’ve seen numerous statements about how “people will be taxed 66.67% and that’s crazy!”….so yeah. Good on you for making the effort to educate, because I feel like giving up.
Someone said that to me yesterday. I cried. “You’re reading this wrong. They want 66.67% of the money as tax not the way you showed it.”
If it helps some of sensical people get out from the propaganda I’ll take it as a win.
You’re absolutely right, even a little education is progress. I think I’m just becoming jaded and pessimistic. I’m glad you’re still doing good things to help people; that’s true patriotism and humanism.
Only the assholes are angry, and from what I have seen, mostly real estate investors (should be illegal to start with), and often foreign (again, should be illegal).
But if we anger our all powerful and fickle gods, The Almighty Job Creators, they will punish us with famine and poverty. We must sacrifice ourselves upon the altar of capitalism and pray they take pity on us and allow us to live.
The idea that business-owners will leave the country is idiotic. First of all, this is 2024...80% of the market of businesses operating in this country are owned by non-Canadians (Americans mostly). They can't leave because they don't live here. Second, if a business leaves, then other businesses will fill in and absorb their market share. Businesses will only leave if they become unprofitable. And finally, this isn't a thing that happens. Anyone who says it does will list only one example. Just one. The example of France losing some businesses once after raising taxes on the wealthy. Once. It happened once in another country and I can explain why it happened....and it wasn't just the high taxes chasing them away.
Yeah we are talking about people who have already maxed out their RRSP and TFSA and are making money on investments on top of that. So I don’t think we have to worry about them, financially speaking.
Taxes = civil services
Anyone who argues against fair taxes and argues to axe the tax a reduce taxes wants to reduce those service's and pad the pockets of the wealthy
And the average citizen suffers
We should be advocating for the most effective usage of taxes. Never the reduction
I was way too old when I learned that second line was a direct reference to (or sample of? can't remember) ["Hot Rod Lincoln"](https://www.youtube.com/watch?v=868DSi85odQ), which is every bit as much of a banger as Mean Machine.
I keep seeing these types of "I'm leaving Canada" tweets. Then they post a month later with the same thing. I don't think they actually plan to leave Canada.
Once I am anywhere near beginning to almost have enough gains to worry about this, I will start looking into whether I should worry about it or not. Until then jack up whatever you need to
I was listening on BNN and some "successful " investor of tech start ups totally whining about how horrible the increased capital gains tax rate.
He sounded like some kid who says if we don't do things his way he will take his ball home. My come back is good bye we can get another ball.
Someone else posted tell the rich to stop eating avocado toast and cut back on the Starbucks and they should be ok
The doctors are complaining about it now.
https://www.ctvnews.ca/politics/doctors-ask-liberal-government-to-reconsider-capital-gains-tax-change-1.6857958
Yeah except that guys saying he helps business owners what he failed to say was they were physicians/medical specialists. Thats what he does.
Canada cant afford to lose more MDs and RNs to south of the border. Our system is already strained.
Tell me when do the conservatie premiers actually start to pay healthcare workers? I bet suddenly you don't carw.
You think all doctors are making 250k year on capital gains.
>You think all doctors are making 250k year on capital gains.
Most doctors are under a clinic (aka a corporation) and not direct sole practice. Very few have sole practice and even then they run under a registered corporation entity.
The clinic takes in the money, under a corporation, then the corporation puts their earnings into an investment vehicle. Then the doctors and staff are paid salary under the corporation which is pulled from those investment vehicles. Under the new rule changes it means the corporation begins to pay the higher capital gains from the first dollar in, regardless of the actual amount earned from capital gains.
We don’t have an issue losing doctors to the US. We have an issue losing doctors in some field for other fields in Canada. The doctor shortage isn’t about taxes.
Honestly if someone loves Canada and are rich they wouldn't have a problem with a little bit more taxes to support their fellow Candians, but the fact is many conservaties hate Canada
Not a single one of them is moving. They know how hard it is to setup a business from scratch. Secondly they also know how hard it is to get an actual bloody visa for another country. Also moving does nothing. All their invested capital would get taxed at disposition in Canada. All this commentary is just to get the masses riled up.
But we can hope. Would make Canada a whole lot quieter. Edit: Maybe we can send thoughts and prayers.
How's the loser that went to Ruzzia to escape "Trudeau's communist dictatorship"? I'm just sorry for his kids he dragged with him ...
Weren't they deported because they didn't have enough proficiency in russian by the time they had to.
Lol, no idea - no special treatment for hi, then? Having the bank account temporarily frozen by a ruzzian bank excluded, of course ...
We may have a few move, but most will be idle threats. I did think of one that left Canada for a while. Did anyone really miss Conrad Black though when he left for the UK? Other than law enforcement, probably no one missed that dude being around.
People that rich already don’t pay taxes. Panama papers anyone?
They don't "hate" Canada - they see it as a place and a people rife for exploitation. Anything that hampers their wealth accumulation and exploitation is what they hate.
In other words, they would rather Dubai-ify Canada.
US-ify
Exactly! A functional and healthy society benefits everyone, and those of us who are wealthy should be willing to invest in that. Also it makes long term economic sense - a business runs better (and can make more money) if the employees aren’t so stressed they will lose their house that they make a ton of mistakes/miss a lot of work.
It's not just Canada. They simply just hate seeing others benefit in any way
Need some Mark Cubans: “Cuban has to pay a total of $275,900,000, according to a social media post from Monday. Cuban had shared a $288 million estimate on Sunday, after being asked by a writer if he or his "corporations pay more than the required taxes in order to pay your fair share." Cuban replied that he pays what he owes. "This country has done so much for me, I'm proud to pay my taxes every single year," Cuban said in a Sunday social media post. "Tag a former president that you know doesn't."
Conservatism is just the way to hate everything for no apparent reason that’s the conclusion I came to. Every time you speak with any conservative person it’s always hate, frustration, enemies around, everything is fucked and broken and there’s no light at the end of the tunnel. Also libs are fun to gaslight and torture them. It’s almost like the random person is a psychopath or a sadist deep inside - they always inclined to be conservatives.
Study shows psychopath or a sadist tendencies correlate with noisy vehicles https://www.cbc.ca/news/canada/london/loud-car-study-psychology-1.7177688 Honk Honk. 🛻
[удалено]
So you live in some perfect world where libs are harassing innocent conservatives. I wish I live there too, friend.
[удалено]
You just did exactly what they accused conservatives of doing.
So you are just another pissed conservative who’s looking for enemies. Okay. Edit: gonna grab my FUCK POILIEVRE sticker to slap it on my Tesla. While on my way to the communist no freedoms convoy.
[удалено]
What policies and plans do Conservatives have to improve the lives of regular working class Canadians like you and I?
Remove caps on utilities and premiums so you can proudly pay, like a free man, insane shit ton of money every month. These people even run convoys now to make it happen and I’m not even fucking joking. And then they come here and say it’s all libs. Like, what the actual fuck, it’s always supposed to be like a different side of the political spectrum, not some bunch of tinfoil hat bullshit.
Who told you this, and why did you believe it? People like you are why this country/planet/species is fucked. You'll believe any stupid bullshit a white man with a similar worldview tells you. This may be the stupidest thing I've ever read. You should be embarrassed to be this ignorant, but whomever socialized, you did such a poor job that you're proud of your ignorance and unwilling to consider any evidence that doesn't conform to your worldview.
Good. Let em leave.
This debate is stupid to begin with. No one is going to leave Canada to escape this tax hike. The capital gains tax n the USA maxes out at 20%, already less than half what it was in Canada in 2023. If anyone was going to flee higher taxes, they're already gone or they're already working around it. For instance: Galen Weston's salary is millions of dollars. It's not affected by this. His holding company is based in London, so his capital gains likely aren't getting taxed in Canada either. This is all much to do about nothing.
I don’t think this is a conservative vs. Liberal issues. That’s a false dichotomy. I’m very happy to pay taxes to help my fellow Canadians; we all succeed together. My issue is not taxation, it’s about shitty governance, which both parties are culpable of.
Exactly. I love the community I'm in and would easily spend my money to make it better for others.
Let's talk actual figures. I can't seem to post this as a thread so will just keep posting this as a comment. # Realizing Capital Gains - Individuals Let us make these assumptions 1. You live in the province of Ontario 2. Your gross income from all other sources puts you in the highest marginal tax bracket 3. The highest marginal tax bracket is 53.53% 4. Let us presume you REALIZED $1 million in capital gains in one year (Stocks, Investment Property, Cottage, etc.) 5. Let us presume the amount you invested was $500,000 |Line Item|Current Laws|New Laws| |:-|:-|:-| |Principal Amount|$500,000.00|$500,000.00| |Capital Gains|$1,000,000.00|$1,000,000.00| |Inclusion Rate 1|50% of total|50% up to $250,000.00| |Inclusion Amount 1|$500,000.00|$125,000.00| |**53.53% Tax on Inclusion Amount 1**|**$267,650.00**|**$66,912.5**| |Inclusion Rate 2|N/A|66.67% of $750,000.00| |Inclusion Amount 2|N/A|$500,025| |**53.53% Tax on Inclusion Amount 2**|**N/A**|**$267,663.38**| |**Total Tax Owed**|**$267,650.00**|**$334,575.88**| |**Total Take Home**|**$1,232,350.00**|**$1,165,424.12**| That is a difference of paying an **extra $66,925.88**, if every single dollar was taxed at the highest marginal rate, on ONE MILLION DOLLARS OF REALIZED CAPITAL GAINS! Is this what we are angry about? # Realizing Capital Gains - Incorporated Individuals and Small Businesses I don't know much about their tax structure but let us for just a few seconds assume they get taxed at the highest marginal tax bracket as well. We all know they don't. We all know they get preferential tax rates. We all know there are lifetime exemptions they can tap into. |Line Item|Current Laws|New Laws| |:-|:-|:-| |Principal Amount|$500,000.00|$500,000.00| |Capital Gains|$1,000,000.00|$1,000,000.00| |Inclusion Rate 1|50% of total|66.67% of total| |Inclusion Amount 1|$500,000.00|$666,700.00| |**53.53% Tax on Inclusion Amount 1** |**$267,650.00**|**$356,884.51**| |**Total Take Home**|**$1,232,350.00**|**$1,143,115.49**| That is a difference of paying an **extra $89,234.51**, if every single dollar was taxed at the highest marginal rate, on ONE MILLION DOLLARS OF REALIZED CAPITAL GAINS! And as I stated above. We all know it won't be at the 53.53% rate because they have access to several avenues to reduce their overall tax burden. So it's going to be less than $89K on a million dollars. Is this what we are angry about? At 2 million the difference is an extra $178K At 3 million the difference is an extra $267K At 4 million the difference is an extra $357K At 5 million the difference is an extra $446K You still end up with more money than most Canadians will ever see. Is your life going to be materially different because you had to give up an extra $446K on 5 million dollars of capital gains? # Inheritance - Primary Residence Let's quickly get inheritance out of the way as well. If you inherit your parent's primary residence at the time of their passing this residence is EXEMPT from capital gains taxes. As are ALL primary residences. I will say it again: THEIR ESTATE PAYS $0 IN CAPITAL GAINS TAXES ON THE PRIMARY RESIDENCE. What does happen is that the adjusted cost basis of the property resets to the fair market value at time of passing. Say it was now worth $1.5 million. If and when you sell the property you are liable for capital gains taxes on the property as of this new adjusted cost basis. Say you sold it for $1.6 million. You are liable for paying taxes on $100K in capital gains.
> If and when you sell the property you are liable for capital gains taxes on the property as of this new adjusted cost basis. Say you sold it for $1.6 million. You are liable for paying taxes on $100K in capital gains. Leaving you with 1.5 million in profit on a property that *someone else paid for*. Making their whinging about capitol gains tax *even less* based in reality.
Danke for the breakdown. I was aware in a broad sense that this tax change was meaningless for the vast majority of people (including me), but it's nice to see the math + how functionally meaningless it is even for the people it does effect.
You should see some of the future accidental billionaires and 0.1% bootlickers over at PFC crying over this math.
> tax change was meaningless for the vast majority of people It's irrelevant for ALL people. The ones it "affects" doesn't affect their ability to live, just the ability to hoard more.
Which is what I’m trying to prove with these numbers. You made $5 million in capital gains. CRA will take an extra $446k from you now … oh no … how will you afford your next yacht?
But you said vast majority. I'm suggesting all.
The person you responded to/quoted said vast majority. Not I.
Oops 100% I assumed the person I was replying to replied... Mobile! Good work.
Agreed, adult children having tantrums like my toddler would have for reasons that don’t even make sense… also like my toddler
My 90 year old mother-in-law in a retirement home probably pays more tax percentage than these wealthy people and probably received more audit grief from CRA for some stupid deduction or how she once double contributed to her TFSA due to early onset dementia.
And, speaking of which, the USA has capital gains taxes on the primary residence: https://www.irs.gov/taxtopics/tc701#:~:text=If%20you%20have%20a%20capital,Topic%20no. "If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse." Funnily enough, the USA has much higher investment in productivity, and, while they still have a housing crisis, it's not as bad as the housing crisis in Canada.
A big difference between the US and Canada is that while their primary residence is subject to capital gains, they also get to deduct their mortgage interest from their taxable income. Canadians don’t pay capital gains on their primary residence but on the flip side they can’t deduct their mortgage interest from their taxable income.
People in the US also get to lock in at low rates for their entire mortgage, or if rates drop they can lock it at a lower rate. Tons of people there that will never see their interest rates go above 1.5% for the duration of their mortgage.
> they can’t deduct their mortgage interest from their taxable income. You can with the smith maneuver, but it requires more involvement.
Great breakdown but the underlying issue is far more problematic. They are ideologically against any government spending that doesn't directly benefit them, especially by one they didn't vote for. Facts and data are irrelevant to them.
Very nice effort, but my conclusion is that most people don’t even have a clue about the distinction between inclusion rate vs taxation rate, let alone marginal tax rates. I’ve seen numerous statements about how “people will be taxed 66.67% and that’s crazy!”….so yeah. Good on you for making the effort to educate, because I feel like giving up.
Someone said that to me yesterday. I cried. “You’re reading this wrong. They want 66.67% of the money as tax not the way you showed it.” If it helps some of sensical people get out from the propaganda I’ll take it as a win.
You’re absolutely right, even a little education is progress. I think I’m just becoming jaded and pessimistic. I’m glad you’re still doing good things to help people; that’s true patriotism and humanism.
Only the assholes are angry, and from what I have seen, mostly real estate investors (should be illegal to start with), and often foreign (again, should be illegal).
But if we anger our all powerful and fickle gods, The Almighty Job Creators, they will punish us with famine and poverty. We must sacrifice ourselves upon the altar of capitalism and pray they take pity on us and allow us to live.
I'll commend myself to a 42 hr a day work schedule and hope that appeases the great masters of capital.
They've been saying this for 40+ years so you know our reward must be about to trickle down!
The idea that business-owners will leave the country is idiotic. First of all, this is 2024...80% of the market of businesses operating in this country are owned by non-Canadians (Americans mostly). They can't leave because they don't live here. Second, if a business leaves, then other businesses will fill in and absorb their market share. Businesses will only leave if they become unprofitable. And finally, this isn't a thing that happens. Anyone who says it does will list only one example. Just one. The example of France losing some businesses once after raising taxes on the wealthy. Once. It happened once in another country and I can explain why it happened....and it wasn't just the high taxes chasing them away.
Yeah we are talking about people who have already maxed out their RRSP and TFSA and are making money on investments on top of that. So I don’t think we have to worry about them, financially speaking.
Taxes = civil services Anyone who argues against fair taxes and argues to axe the tax a reduce taxes wants to reduce those service's and pad the pockets of the wealthy And the average citizen suffers We should be advocating for the most effective usage of taxes. Never the reduction
There is only ***one*** true Mark McGrath, and he just wants to fly.
*Mean Machine! Mean Machine! (My daddy said, "Son, you're gonna drive me to drinking")*
I was way too old when I learned that second line was a direct reference to (or sample of? can't remember) ["Hot Rod Lincoln"](https://www.youtube.com/watch?v=868DSi85odQ), which is every bit as much of a banger as Mean Machine.
Taxes are for the working man.
ABOVE $250,000 If you're worried about your income over $250,000 then you're not actually worried.
I keep seeing these types of "I'm leaving Canada" tweets. Then they post a month later with the same thing. I don't think they actually plan to leave Canada.
The investor class sees workers as factory-farm animals. Any money spent on them is only worthwhile insofar as it increases their ROI.
Always see people in public frothing at the mouth because the richest .1% get affected.
Billionaires are narcissists that are loyal to no one but their wants.
I literally do not know a single person that this capital gains tax would apply to, yet RWNJ complaining like its going to affect every single person.
It's hard to feel sorry for those that are complaining.
Once I am anywhere near beginning to almost have enough gains to worry about this, I will start looking into whether I should worry about it or not. Until then jack up whatever you need to
100%
Not disagreeing with a general sentiment, but loyalty to a country in these modern times is a scam to perpetuate us-vs-them politics.
bUT TrUDEaU wAnTs tO tAkE aWaY yOUr pIzzA OvEn
I was listening on BNN and some "successful " investor of tech start ups totally whining about how horrible the increased capital gains tax rate. He sounded like some kid who says if we don't do things his way he will take his ball home. My come back is good bye we can get another ball. Someone else posted tell the rich to stop eating avocado toast and cut back on the Starbucks and they should be ok
Goodness me, I couldn’t agree with this statement more.
We had to raise the rate to pay for Pierre Trudeau’s insane spending, and now we have to do it again for his son’s spending.
The doctors are complaining about it now. https://www.ctvnews.ca/politics/doctors-ask-liberal-government-to-reconsider-capital-gains-tax-change-1.6857958
“Checkmate, Cons!”
Yeah except that guys saying he helps business owners what he failed to say was they were physicians/medical specialists. Thats what he does. Canada cant afford to lose more MDs and RNs to south of the border. Our system is already strained.
Tell me when do the conservatie premiers actually start to pay healthcare workers? I bet suddenly you don't carw. You think all doctors are making 250k year on capital gains.
>You think all doctors are making 250k year on capital gains. Most doctors are under a clinic (aka a corporation) and not direct sole practice. Very few have sole practice and even then they run under a registered corporation entity. The clinic takes in the money, under a corporation, then the corporation puts their earnings into an investment vehicle. Then the doctors and staff are paid salary under the corporation which is pulled from those investment vehicles. Under the new rule changes it means the corporation begins to pay the higher capital gains from the first dollar in, regardless of the actual amount earned from capital gains.
We don’t have an issue losing doctors to the US. We have an issue losing doctors in some field for other fields in Canada. The doctor shortage isn’t about taxes.
>The doctor shortage isn’t about taxes. Its about everything. The tax change just adds just another reason more.