this post was submitted on 23 Jan 2025
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54
Freeland to Scrap Canada’s Capital Gains Hike If She’s Elected (www.bloomberg.com)
submitted 1 day ago* (last edited 1 day ago) by [email protected] to c/[email protected]
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Do I smell austerity for the working class?

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

First off, this move is antithetical to the idea of making the wealthy pay their fair share of taxes. Second, if you're making $1M on capital gains in a year, you're not upper middle class or lower upper class - or whatever 'they're not that rich' argument you intend. Third, and most importantly, the upper middle class/lower upper class (to use dated terminology) being taxed on their capital gains is a by-product. These taxes also catch, probably as they are intended to, people making 10 million or 100 million (I can't imagine lol). And let's not forget, they didn't work an hour to make that money.

How come only those of us with jobs should pay income taxes?

[–] 9488fcea02a9 -5 points 1 day ago* (last edited 1 day ago) (1 children)

Second, if you’re making $1M on capital gains in a year, you’re not upper middle class or lower upper class - or whatever ‘they’re not that rich’ argument you intend.

they really aren't that rich in the grand scheme of things..... they're not buying off politicians, or sending armies of lobbyists to ottawa. they're not propping up our monopolies and leaving toxic tailing ponds with millions in cleanup costs

i get it if people are really struggling and a cardiac surgeon or small business owner looks like a big bad rich person who needs to be taxed. but westons, rogers, and irvings in this country are happy to sit and watch while we go after these small potato rich folk while leaving them the continue pillaging the country

These taxes also catch, probably as they are intended to, people making 10 million or 100 million

anyone that rich has really good accountants and asset hiding schemes. they're not paying taxes anyways.

[–] [email protected] 5 points 1 day ago

There are people who have to work for there money, and there are people who passively make money (and basically don't pay taxes on that passive income)