ruth
1. https://www.advisor.ca/tax/tax-news/capital-gains-inclusion-rate-raised-to-66-6-for-high-earners/
2. https://www.dfsin.ca/news-insights/ten-take-aways-from-the-2024-2025-federal-budget
Why is it the number 66.6 %?
This means that if you worked hard to create 250,000$ in profit, they’ll get 165,000$ while you will only keep 85,000$. Utter madness.
It means that if you want to become a millionaire, you’ll need to make about 3 million.
Not to mention the inflation which is reducing the purchasing power of your dollars.
It’s like they are trying to discourage people from trying to get rich, and also trying to cement a status quo which is alarming.
It’s like we are going back to feudal times.
They don’t want people they don’t control getting rich and powerful. It’s like they are slowly closing the gates.
On the surface, it sounds nice that they are only taxing high earners, but it means that they are significantly reducing upward mobility which is dangerous given that the 666s are the ones in power.
It’s like a diabolical dictatorship is forming.
The numbers and greedy government not withstanding – this is plain wrong math.
See: https://www.moneysense.ca/save/taxes/capital-gains-tax-explained/
What do you mean?
I see, it wasn’t as bad as I thought.
I mean at what point do they just come right out into the open about this with their eyes wide shut masks on?
It is because they raised the capital gains tax from 1/2 to 2/3’s. Should every instance of 2/3 be considered to have some deeper reason behind it?
If someone eats 2/3’s of a pizza, are they in league with Satan? Nope.
if 66% is better than 33% why not just make it 100%. Even better! or maybe 120% even better than that? Canada will prove once and for all that a society can tax its way to prosperity. After all the gov knows best how to allocate and use resources vs. average dumb citizen right?
Neo Feudalism
Socialism at its finest folks. Anyone that believes they are actually free is a fool.
Those protesters should have focused on this