Justin Trudeau and Chrystia Freeland do not understand the detailed mechanics of the new capital gains tax they are proposing.
This tax change will hit small business owners to the tune of 10-12% extra tax. Small businesses employ the majority of working Canadians and are getting stuck with a Liberal government spending spree in advance of an election.
Since the Liberal government won a majority nine years ago (relying on the federal NDP for the past five years to support them in government operations), the Liberals have worked on the mantra of “Helping the middle class and those who are striving to become a part of it.”
While the federal Liberal and NDP spin-doctors have stated this new capital gains tax only impacts the top 0.1% of Canadian income earners (sure, stick it to the wealthy), the actual analysis says this Liberal government money-grab to support non-working millennials, will impact one in five Canadians. By my math (I’m a CPA with over 35 years of practical business experience), any small business owner will incur an extra 10-12% income tax to be able to retire. It's the same with others who invested in themselves rather than relying on any government to support them.
Small business has built this country.
Traditionally, the government states they cannot support everyone. Entrepreneurs step up and not only look after themselves but their local
community. Now the federal government says it’s OK for some people to “pay a little bit more.”
Mr. Trudeau’s former finance minster disagrees with this new tax and Justin’s approach to having people “invest in Canada.”
As Canadians under our current governmental leadership, we are closer and closer to a communist state. Not sure about everyone else, the but that’s not what I signed up for.
Tony Moniz
Saanich
