A prominent Canadian technology investor joined the chorus of Canadian businesses criticizing the increase to the capital-gains tax. Read on

A prominent Canadian technology investor joined the chorus of Canadian businesses criticizing the increase to the capital-gains tax. Read on

  • herrcaptain@lemmy.ca
    65·
    3 months ago

    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).