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Poilievre says Tories will vote against capital gains tax hike, calls it a 'job killer' (www.cbc.ca)

submitted 4 months ago by [email protected] to c/[email protected]

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'We're stepping up for Canadians. They're stepping up for the rich,' Trudeau says of Conservatives

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[–] [email protected] 8 points 4 months ago

"Jobs killer"

Oh no...you mean that money that was NEVER going to trickle down anyway will now NOT trickle down even harder? Whatever are we going to do!

[–] [email protected] 6 points 4 months ago

Jobs killed: Landlords.

Success, methinks.

[–] [email protected] 5 points 4 months ago

Squinty McProudboy opposes everything so it comes as no surprise he's against this.

[–] [email protected] 2 points 4 months ago

This is the best summary I could come up with:

Conservative Leader Pierre Poilievre said Tuesday his party will oppose the government's proposed capital gains inclusion rate increase — a tax hike that is projected to pull in roughly $19 billion in new revenue.

Weeks after the budget was tabled, Poilievre finally made his position known when he stood in the House of Commons to blast the Liberals' plan and their so-called "high tax agenda."

Poilievre's team also released a 15-minute social media video narrated by the leader to explain why the party is taking a stand against a policy that disproportionately affects wealthy people and big corporations.

The Canadian Medical Association has steadfastly opposed the inclusion rate increase, saying the tax hike will make primary care worse in a country where 6.5 million people already don't have access to a family doctor or nurse practitioner.

In his social media video explaining the party's stance, Poilievre said he doesn't support policies that could hurt the economy at a time when Canada's GDP per capita has slumped and growth has stagnated.

"With this tax hike, Canada's capital gains will be one of the highest in the advanced world so businesses, jobs and money will pour out of our country at an even faster rate," he said.

The original article contains 1,030 words, the summary contains 195 words. Saved 81%. I'm a bot and I'm open source!

[+] [email protected] -17 points 4 months ago (1 children)

That law was poorly implemented. But it's not a bad law. They just set the minimum too low and it's going to affect a lot of middle class regular people who purchased a property in only the last 10 years.

[–] [email protected] 21 points 4 months ago (1 children)

Those people are making a lot of money. They can afford to put a few tens of thousands of their $250k+ windfall back into public services.

[+] [email protected] -6 points 4 months ago (1 children)

Not really. What happens if they want to move somewhere else and want to purchase a new property to move in? Half of that money was already going in capital gains taxes. What you're left with is just enough for a 20% down payment on a 500k$ home, which is a pretty normal amount to pay for a small two bedroom condo in a big city.

Unless I'm mistaken.

[–] [email protected] 20 points 4 months ago (2 children)

This change has no impact of the sale of a primary residence.

If they are selling a secondary residence and that sale is resulting in over 250k in profit than they are impacted, as they should be.

[–] [email protected] 8 points 4 months ago

Yeah anyone who even can afford a secondary residence absolutely deserves any and all tax hikes coming their way.

[–] [email protected] 3 points 4 months ago (1 children)

Aaaaahhh! Ok then. I did misunderstand.

[–] [email protected] 3 points 4 months ago (1 children)

Which is totally fair. There is so much misinformation flying around about this tax. The rich are flexing every muscle they have to try to make the general population dislike this change.

[–] [email protected] 2 points 4 months ago

The rich are flexing every muscle they have to try to make the general population dislike this change.

And in some parts of the country (like where I live unfortunately) it's working. Simply because the cult of "hating Trudeau" is just as strong and stupid as the cult of trump to our south. Here in the land of "fuck trudeau" stickers and truck nuts, They'll quite literally hate something that is clearly good for them just because Pierre Poppinfresh tells them that JT is for it.