this post was submitted on 25 Apr 2024
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A prominent Canadian technology investor joined the chorus of Canadian businesses criticizing the increase to the capital-gains tax. Read on

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[–] [email protected] 60 points 6 months ago* (last edited 6 months ago) (1 children)

God these people are such fucking crybabies. It's not even an especially significant tax hike.

Edited to add:

“Foundations, high-net worth folks that are holding the capital into companies — that’s going to be gone.”

That's a lie, but if it were true - good riddance. We'd get a lot more done as a country without those ghouls playing the working class against each other. Let them all move away - it's not like regular Canadians won't start businesses to take their place.

Also, when I say it's not an especially significant tax hike: Capital gains are currently taxed as if you made 50% of the profit you actually made, and now that's going up to 66%. It's not a tax rate of 66%, it literally means "When we tax you, we'll pretend you only made 2/3rds of the profit you actually did." Regular people, already get taxed on 100% of their employment income (albeit generally in a lower tax bracket).

[–] [email protected] 18 points 6 months ago (1 children)

Also we can always ramp up public investment to fill the gap.

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