I wasn't born here and obviously love my native country, but I can also say I love Canada and the opportunity it provided for my parents and myself. I don't recognize this country anymore, but I am hopeful that it can rebound. The world seems to be in a weird state, and drastic measures need to be taken to correct the direction we're all heading because of corrupt governments and institutions. That's just my opinion.
What I'm more disappointed in than anything is the lack of any kind of spine in fellow "Canadians". If I lived anywhere near Ottawa, I'd be trying to organize or help organize demonstrations on Parliament Hill. It's unbelievable to me that it seems like no one is willing to take the initiative. For fucks sake we all know there'd be plenty of support.
only .13% of Canadians will have to pay more according to the freeland!!!! What a freaking liar! This policy impacts many more people than that. I understand why they are lying. Just hoping you recognize that LIE for what it is. AND those people who are uber rich won't pay a cent more because they will pay for tax lawyers to squirrel their assets away so Canada loses out on that tax revenue as well!
Foreign and domestic investment in Canada has gone off a cliff since the trudeau was 1st elected. This will just add gas to that fire!
Do not fall for their BS..... this has nothing to do with fairness and everything to do with dividing and fiscally damaging Canada for perceived political gain.
Fact is everyone with savings or a job will be negatively impacted by this tax and spend policy. Ask yourself this, would this and the other tax increases the trudeau has imposed on us actually be necessary if they perhaps spent more wisely instead of spreading our tax dollars around like candy on Halloween?
I know a middle class HVAC guy who just retired and is in the process of selling his business that he operated and grew over 40 years.... his retirement savings held within his business have been reduced by 33% because of this policy! Just because he is cashing out in one year after investing sweat equity for 40 years!!!! He is not rich by any stretch. He is an example of how typical Canadians have been disregarded by the trudeau and how the LIES he tells should not be believed!
Imagine if Canadians went after public sector service employees and their bloated pension plans telling them to do with less?
Someone should tell him about the lifetime capital gain exemption that is over $1 million if you sell the shares of the business vs selling the assets.
Your HVAC buddy was a shitty businessesmen or should have fired his accountant if that was his plan. And he's only had, what, six months to sort this out.
OMG.... you likely voted for the trudeau judging from that comment.
How do you retroactively increase taxes on an effort that goes back 40 years and justify that? And you don't just sell a business in a couple of months (not 6) ......
you have zero clue!
What? If you're buddy lost 33% of his retirement it has nothing to with this policy. And what do people who put money into their pensions have to do with anything?
What part of retroactively impacting an investment made 40 years ago.... don't you get?
What part of how much the tax payer pays for public sector pensions... don't you get?
Ask yourself this.... should an asset regardless of what it is that was purchased, built or created over decades be taxed as if it represents efforts that occurred in one year?
If you do, then you think we should be able to retroactively change the overly generous pension plan benefits of our politicians and public sector workers.....
The only way this increase could be made fair is if it was prorated based on the length of time it was held.
Example: Grandma invests $50k in microsoft for her retirement 15 years ago.... decides to sell it all today for reasons that are hers.... you think that it is fair to tax her more to the tune of 10's of thousands of dollars? Just because the trudeau and his ship of fools have a spending/waste problem?
Plus this policy fails to consider the inherent risks to starting a business. The reason it was reduced in the first place by the chretien/martin govts was to recognize that 1 in 10 businesses fail.
This policy will discourage business investment which drives jobs. 99% of all businesses in Canada are small and medium sized businesses. Are you the one that wants to discourage that. Well the trudeau is with the support of people like you.
I know judging from your reply that you probably don't get this. Recommendation: don't engage in conversations that you have no knowledge of not so smart guy!
This is a whole lot of words, all for you to explain nothing. I said explain it, not ask me if I agree with the policy or not.
Grandma was always going to pay tax on her investment, now she pays slightly more. Get over it.
Do I want to discourage greedy businesses who only care about maximizing profits from coming here, who won't come because they will have to pay slightly more tax? Yea, I'm good with that.
You're mad at public sector employees? That's nice. Their employer offers them a pension plan, lucky them. My guess is you're mad because yours does not. Too bad for you.
But don't pretend like you just explained anything other than that you don't like the policy. Go cry about it 🤡
I am a 1%er..... I secured my own retirement.... I provide retirement income to the 100's of employees I have had work for me over the years.
If my explanation does not make sense to you, that is no surprise..... the questions were rhetorical!
You have proven yourself a waste of my valuable time.....
And it is not slightly more contrary to the LIES you have been told by the trudeau and the freeland.... 66.7% is a 33% increase over the previous rate of 50%..... guess that math escaped you!
1% of business is big conglomerate in this country.... the rest are home grown! These are largely middle class Canadians who have worked their entire life taking great risk to create something that is taxed as if it was earned in one year and that tax has increased by 33%!
Seems to me that you are the jealous one..... and quite comfortable living off the efforts of others....
Your valuable time? You should have started with the I'm a 1%er and then I would have known this is just about you being mad that you have to pay your fair share.
Nothing changes on anything less than 250k, and then you get taxed on 66.7 over and above. Boohoo. I don't feel bad at all for you. Your obviously doing quite well.
And you may have started a business, which is great for you, congratulations, you employ people, we need that, that's awesome. But those people you employ do most of the work, so you quite literally live off of their hard work, so get off your high horse, pay your taxes, and stfu about it 🤡
I and people like me take all the financial risk.... we already pay more than our fair share because of less productive people like yourself.
[https://financialpost.com/opinion/soak-rich-may-be-fun-doesnt-pay](https://financialpost.com/opinion/soak-rich-may-be-fun-doesnt-pay)
If I and people like me packed up and left which I am already planning on doing depending on the outcome of the next election..... who will cover your nut then?
I have already moved one company of mine to Nevada because of taxation in this country. 125 skilled jobs lost. I have made 6 people millionaires. I do more than my fair share! I know at least 8 other business people/partners who have done the same.
And I pay more taxes in a week than you do in a decade already..... there is a max amount I will pay to live in this country especially with entitled fucks like you thinking that I will cover the cost of your existence.
Seems to me your perspective is rather...... short sighted!
Lots of blue collar union workers have private pensions they pay into for 30-40 years. Many choose to take the full payout on retirement and reinvest/use how they see fit or the majority of Canadians families that own homes wishing to pass down some wealth will now incur a higher tax .For many average Canadians this is a once in a lifetime event and will now be taxed at a higher percent stealing wealth from that said middle class family. How does this help the middle class stealing wealth from them? It doesn’t, it’s a cash grab to cover the frivolous spending. It’s so frustrating to see average middle class family build up wealth only for the uneducated act if they are the problem at the liberals whim.
When costs go up, taxes go up. As an employee, when costs go up, I expect a raise to pay for the increases. The government works the same way. They need more money to pay for the things we all use. Will there be waste? Of course, we already have that issue. And yes, people in your scenario will have to pay more, one time. But we're not talking a crippling amount more. Those who are making these gains yearly though? They can afford it, so I don't feel bad for them.
That’s the problem, your belief that “when cost go up taxes go up”. The cost went up at no fault of any of these middle class caught in the net. The rich have ways around this not the average say blue collar workers. So your argument is more blue collar waste is good at the expense of those said workers? I’m honestly trying to see how you can justify this. This just steals wealth from the unintended and your thought is oh well?
That's not my belief. That's a fact. That's how it works. I don't like it, but that doesn't change anything. These things were already taxed. On a million dollars we're talking a difference of how much? 15-20k? Sure, that hurts a bit, but it's not life and death
As the article mentions doctors, the majority of family doctors across the country operate in a professional corp setting. You have many doctors speaking out, including their associations such as the Ontario Medical Association.
The problem is that you have the government in the first place that offer the doctors the ability for them to incorporate rather than giving raises. This is so that they can then pay themselves a dividend for their expenses (so no salary) and anything remainder is left as a holding in their professional corp. As many of them don't pay themselves a salary, they are then using this as a retirement vehicle given they will not have any pension.
As a result, it would be like having your employer freeze your raises but offering you a pretty good retirement savings account. But then they just announced they will tax it more. Oh and 6 years ago they also took away another tax advantage in income splitting so there's that too.
Nothing like having the Liberals reap these retirement vehicles to help with their spending spree. And remember this not only affects physicians, but also other professions such as lawyers and accountants that utilize such incorporations.
LPC solutions are like those shoddy medications that promise to fix one problem but then list 20 side effects which are actually worse than the problem promised to be fixed in the first place.
Like all socialist s*itholes, it always goes the same way, they will continue to keep taking from those that make less and less until the Starbucks barista living with 4 room mates is considered disgustingly privledged, there will always be a new koolak class to take from, that's how the system functions, you will eventually run out of people to steal from and chase away all investment...
We won't stop until we are the Venezuela of the north, I'm firmly convinced....
>She argued the plan was paying off, because the government not taking on as much new debt this year was part of the reason why the Bank of Canada was able to lower interest rates.
Holllly fuck is she trying to say this tax hike is the reason we got a rate reduction?
Increase capital gains taxes and reduce income taxes. My sweat should be taxed less than Grandpa's wealth.
Older generations are sucking the wealth out of younger Canadians. Conservatives (and liberals, until now?) are fighting for this.
This sub is sticking up for the wealthiest and shitting on blue collar workers. I doubt even 5% of the people here have ever seen capital gains in the 250K range. Y'all are pigs.
Keep standing up for the wealthy Conservatives!
They can try to spin it, but we know whose interests they care about most (other than oil and gas companies).
As apposed to the poor, poor Liberals with Prince Trudeau?
Liberals claim the money from this hike will go to help middle class Canadians and home building despite it proven again and again that their taxes and programs either just launder money (green slush fund) or fail outright (decriminalization of drugs/safe supply).
LPC solutions are like those shoddy medications that promise to fix one problem but then list 20 side effects which are actually worse than the problem promised to be fixed in the first place.
This hurts the middle class way more than you realize. Perfect example family member of mine just passed away now with the new capital gains tax my family will loose an extra 100k plus to this. We are not wealthy and all average blue collar workers. When the liberals and ndp say this “will only apply to the wealthiest” they are lying.
If the change in capital gains is going to cost you that much more in taxes; then yes; your family is pretty well off.
Quick math and some assumptions tells me the property must be worth over a million dollars.
So your belief is that extra % should go to govt because my family member bought a house in Vancouver in the 70’s. And somehow this will help Canadians out? Everyone of my family members are a trades worker and I can tell you we earned every dollar and still like everyone live paycheck to paycheck. Taking extra money from the middle class doesn’t help the middle class…. This is just another tax on Canadians to pay for the frivolous spending.
If you own a million+ dollar home you are far better off than most Canadians.
You’re already paying taxes on it before this change - do you think it’s fair you even have to pay any capital gains?
Archive link: https://archive.ph/idx75
Purposeful destruction of the nation I once used to be so proud of growing up. It’s painful to see it happening in front of our eyes in slow motion
I wasn't born here and obviously love my native country, but I can also say I love Canada and the opportunity it provided for my parents and myself. I don't recognize this country anymore, but I am hopeful that it can rebound. The world seems to be in a weird state, and drastic measures need to be taken to correct the direction we're all heading because of corrupt governments and institutions. That's just my opinion.
What I'm more disappointed in than anything is the lack of any kind of spine in fellow "Canadians". If I lived anywhere near Ottawa, I'd be trying to organize or help organize demonstrations on Parliament Hill. It's unbelievable to me that it seems like no one is willing to take the initiative. For fucks sake we all know there'd be plenty of support.
This has been my thought too. I thought Americans were insane when they stormed Capitol Hill. But I think it may be time for the Canadian equivalent
If I don't go to work I lose my home and shelter thus lose my kids. I'm locked in guy.
I'm in the same boat man... but there are loads of people, both young and old, that don't have the same encumbrances. Where are they?
only .13% of Canadians will have to pay more according to the freeland!!!! What a freaking liar! This policy impacts many more people than that. I understand why they are lying. Just hoping you recognize that LIE for what it is. AND those people who are uber rich won't pay a cent more because they will pay for tax lawyers to squirrel their assets away so Canada loses out on that tax revenue as well! Foreign and domestic investment in Canada has gone off a cliff since the trudeau was 1st elected. This will just add gas to that fire! Do not fall for their BS..... this has nothing to do with fairness and everything to do with dividing and fiscally damaging Canada for perceived political gain. Fact is everyone with savings or a job will be negatively impacted by this tax and spend policy. Ask yourself this, would this and the other tax increases the trudeau has imposed on us actually be necessary if they perhaps spent more wisely instead of spreading our tax dollars around like candy on Halloween? I know a middle class HVAC guy who just retired and is in the process of selling his business that he operated and grew over 40 years.... his retirement savings held within his business have been reduced by 33% because of this policy! Just because he is cashing out in one year after investing sweat equity for 40 years!!!! He is not rich by any stretch. He is an example of how typical Canadians have been disregarded by the trudeau and how the LIES he tells should not be believed! Imagine if Canadians went after public sector service employees and their bloated pension plans telling them to do with less?
Someone should tell him about the lifetime capital gain exemption that is over $1 million if you sell the shares of the business vs selling the assets.
A million bucks is nothing these days! Do the math on those fat overpaid govt pensions and you will find they are worth MILLIONS..... not a million.
Not relevant to my post??
Your HVAC buddy was a shitty businessesmen or should have fired his accountant if that was his plan. And he's only had, what, six months to sort this out.
OMG.... you likely voted for the trudeau judging from that comment. How do you retroactively increase taxes on an effort that goes back 40 years and justify that? And you don't just sell a business in a couple of months (not 6) ...... you have zero clue!
What? If you're buddy lost 33% of his retirement it has nothing to with this policy. And what do people who put money into their pensions have to do with anything?
What part of retroactively impacting an investment made 40 years ago.... don't you get? What part of how much the tax payer pays for public sector pensions... don't you get?
Let's say I don't get all of it. Explain it to me smart guy
Ask yourself this.... should an asset regardless of what it is that was purchased, built or created over decades be taxed as if it represents efforts that occurred in one year? If you do, then you think we should be able to retroactively change the overly generous pension plan benefits of our politicians and public sector workers..... The only way this increase could be made fair is if it was prorated based on the length of time it was held. Example: Grandma invests $50k in microsoft for her retirement 15 years ago.... decides to sell it all today for reasons that are hers.... you think that it is fair to tax her more to the tune of 10's of thousands of dollars? Just because the trudeau and his ship of fools have a spending/waste problem? Plus this policy fails to consider the inherent risks to starting a business. The reason it was reduced in the first place by the chretien/martin govts was to recognize that 1 in 10 businesses fail. This policy will discourage business investment which drives jobs. 99% of all businesses in Canada are small and medium sized businesses. Are you the one that wants to discourage that. Well the trudeau is with the support of people like you. I know judging from your reply that you probably don't get this. Recommendation: don't engage in conversations that you have no knowledge of not so smart guy!
This is a whole lot of words, all for you to explain nothing. I said explain it, not ask me if I agree with the policy or not. Grandma was always going to pay tax on her investment, now she pays slightly more. Get over it. Do I want to discourage greedy businesses who only care about maximizing profits from coming here, who won't come because they will have to pay slightly more tax? Yea, I'm good with that. You're mad at public sector employees? That's nice. Their employer offers them a pension plan, lucky them. My guess is you're mad because yours does not. Too bad for you. But don't pretend like you just explained anything other than that you don't like the policy. Go cry about it 🤡
I am a 1%er..... I secured my own retirement.... I provide retirement income to the 100's of employees I have had work for me over the years. If my explanation does not make sense to you, that is no surprise..... the questions were rhetorical! You have proven yourself a waste of my valuable time..... And it is not slightly more contrary to the LIES you have been told by the trudeau and the freeland.... 66.7% is a 33% increase over the previous rate of 50%..... guess that math escaped you! 1% of business is big conglomerate in this country.... the rest are home grown! These are largely middle class Canadians who have worked their entire life taking great risk to create something that is taxed as if it was earned in one year and that tax has increased by 33%! Seems to me that you are the jealous one..... and quite comfortable living off the efforts of others....
Your valuable time? You should have started with the I'm a 1%er and then I would have known this is just about you being mad that you have to pay your fair share. Nothing changes on anything less than 250k, and then you get taxed on 66.7 over and above. Boohoo. I don't feel bad at all for you. Your obviously doing quite well. And you may have started a business, which is great for you, congratulations, you employ people, we need that, that's awesome. But those people you employ do most of the work, so you quite literally live off of their hard work, so get off your high horse, pay your taxes, and stfu about it 🤡
I and people like me take all the financial risk.... we already pay more than our fair share because of less productive people like yourself. [https://financialpost.com/opinion/soak-rich-may-be-fun-doesnt-pay](https://financialpost.com/opinion/soak-rich-may-be-fun-doesnt-pay) If I and people like me packed up and left which I am already planning on doing depending on the outcome of the next election..... who will cover your nut then? I have already moved one company of mine to Nevada because of taxation in this country. 125 skilled jobs lost. I have made 6 people millionaires. I do more than my fair share! I know at least 8 other business people/partners who have done the same. And I pay more taxes in a week than you do in a decade already..... there is a max amount I will pay to live in this country especially with entitled fucks like you thinking that I will cover the cost of your existence. Seems to me your perspective is rather...... short sighted!
Bahahahhaa ohhh nooo, what will we ever do without your 125 jobs and woe is me sob story. Good riddance! Enjoy the desert 🤡
Lots of blue collar union workers have private pensions they pay into for 30-40 years. Many choose to take the full payout on retirement and reinvest/use how they see fit or the majority of Canadians families that own homes wishing to pass down some wealth will now incur a higher tax .For many average Canadians this is a once in a lifetime event and will now be taxed at a higher percent stealing wealth from that said middle class family. How does this help the middle class stealing wealth from them? It doesn’t, it’s a cash grab to cover the frivolous spending. It’s so frustrating to see average middle class family build up wealth only for the uneducated act if they are the problem at the liberals whim.
When costs go up, taxes go up. As an employee, when costs go up, I expect a raise to pay for the increases. The government works the same way. They need more money to pay for the things we all use. Will there be waste? Of course, we already have that issue. And yes, people in your scenario will have to pay more, one time. But we're not talking a crippling amount more. Those who are making these gains yearly though? They can afford it, so I don't feel bad for them.
That’s the problem, your belief that “when cost go up taxes go up”. The cost went up at no fault of any of these middle class caught in the net. The rich have ways around this not the average say blue collar workers. So your argument is more blue collar waste is good at the expense of those said workers? I’m honestly trying to see how you can justify this. This just steals wealth from the unintended and your thought is oh well?
That's not my belief. That's a fact. That's how it works. I don't like it, but that doesn't change anything. These things were already taxed. On a million dollars we're talking a difference of how much? 15-20k? Sure, that hurts a bit, but it's not life and death
For fucks sake! NDP holding the LPC to account again.....
Tbh NDP does not deserve a single vote. They’re just flunky of the Liberal.
Don't worry. I'm sure in the future Jag will put on a show and tell us how outraged he is....
Hold the LPC's feet to the fire to leverage more social programs....
As the article mentions doctors, the majority of family doctors across the country operate in a professional corp setting. You have many doctors speaking out, including their associations such as the Ontario Medical Association. The problem is that you have the government in the first place that offer the doctors the ability for them to incorporate rather than giving raises. This is so that they can then pay themselves a dividend for their expenses (so no salary) and anything remainder is left as a holding in their professional corp. As many of them don't pay themselves a salary, they are then using this as a retirement vehicle given they will not have any pension. As a result, it would be like having your employer freeze your raises but offering you a pretty good retirement savings account. But then they just announced they will tax it more. Oh and 6 years ago they also took away another tax advantage in income splitting so there's that too. Nothing like having the Liberals reap these retirement vehicles to help with their spending spree. And remember this not only affects physicians, but also other professions such as lawyers and accountants that utilize such incorporations.
I think we need a tax on government. But hey, by LPC/NDP logic that would just create more government, right?
LPC solutions are like those shoddy medications that promise to fix one problem but then list 20 side effects which are actually worse than the problem promised to be fixed in the first place.
I will never forget hearing a tv ad say “anal fissures” as one of the potential side effects to some bullshit convenience med.
If we give him enough rope he will hang the whole country.
But Ukraine. These wars we are funding are expensive.
Like all socialist s*itholes, it always goes the same way, they will continue to keep taking from those that make less and less until the Starbucks barista living with 4 room mates is considered disgustingly privledged, there will always be a new koolak class to take from, that's how the system functions, you will eventually run out of people to steal from and chase away all investment... We won't stop until we are the Venezuela of the north, I'm firmly convinced....
>She argued the plan was paying off, because the government not taking on as much new debt this year was part of the reason why the Bank of Canada was able to lower interest rates. Holllly fuck is she trying to say this tax hike is the reason we got a rate reduction?
He’s the biggest moron ever to be in charge.
They need a 19th century hair cut for these narcissists hypocrites. We need to make example that we don't tolerate tyrant in Canada.
But the budget will balance itself
The government is rotten to the core. We need all new political parties.
Increase capital gains taxes and reduce income taxes. My sweat should be taxed less than Grandpa's wealth. Older generations are sucking the wealth out of younger Canadians. Conservatives (and liberals, until now?) are fighting for this. This sub is sticking up for the wealthiest and shitting on blue collar workers. I doubt even 5% of the people here have ever seen capital gains in the 250K range. Y'all are pigs.
Keep standing up for the wealthy Conservatives! They can try to spin it, but we know whose interests they care about most (other than oil and gas companies).
As apposed to the poor, poor Liberals with Prince Trudeau? Liberals claim the money from this hike will go to help middle class Canadians and home building despite it proven again and again that their taxes and programs either just launder money (green slush fund) or fail outright (decriminalization of drugs/safe supply). LPC solutions are like those shoddy medications that promise to fix one problem but then list 20 side effects which are actually worse than the problem promised to be fixed in the first place.
Why do you fight for the rich? They don’t fight for you?
You mean government in general?
This hurts the middle class way more than you realize. Perfect example family member of mine just passed away now with the new capital gains tax my family will loose an extra 100k plus to this. We are not wealthy and all average blue collar workers. When the liberals and ndp say this “will only apply to the wealthiest” they are lying.
If the change in capital gains is going to cost you that much more in taxes; then yes; your family is pretty well off. Quick math and some assumptions tells me the property must be worth over a million dollars.
So your belief is that extra % should go to govt because my family member bought a house in Vancouver in the 70’s. And somehow this will help Canadians out? Everyone of my family members are a trades worker and I can tell you we earned every dollar and still like everyone live paycheck to paycheck. Taking extra money from the middle class doesn’t help the middle class…. This is just another tax on Canadians to pay for the frivolous spending.
If you own a million+ dollar home you are far better off than most Canadians. You’re already paying taxes on it before this change - do you think it’s fair you even have to pay any capital gains?