this post was submitted on 25 Apr 2024
34 points (77.4% liked)

Canada

7328 readers
215 users here now

What's going on Canada?



Related Communities


🍁 Meta


🗺️ Provinces / Territories


🏙️ Cities / Local Communities

Sorted alphabetically by city name.


🏒 SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer


💻 Schools / Universities

Sorted by province, then by total full-time enrolment.


💵 Finance, Shopping, Sales


🗣️ Politics


🍁 Social / Culture


Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca


founded 4 years ago
MODERATORS
 

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

you are viewing a single comment's thread
view the rest of the comments
[–] herrcaptain@lemmy.ca 65 points 8 months ago* (last edited 8 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).

[–] avidamoeba@lemmy.ca 20 points 8 months ago (1 children)

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

[–] herrcaptain@lemmy.ca 6 points 8 months ago