Dishonest to suggest Canadian capital gains tax will only impact the rich: Eric Jackson

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

The problem is not raising the capital gains tax… The problem is the disgusting waste in Ottawa, the sprinkling of money on pet projects and the catering to special interests. In short, this is a government that doesn’t deserve the privilege of spending our money.

Liar is a liar, never change. Who will believe in what Trudeau says anymore. Resign now.

Dishonest is too polite a word, it's more of an outright lie. The gov intentionally did not clearly communicate to the public that the increase is also for businesses and that their inclusion rate is 0$ and not 250k, but instead they chose to mislead by focusing on the 0.13%. Lots of small businesses and people that are running small businesses are impacted.

Ah yes all those gen Zers clearing 250K per year on meme stocks that just want a house :(

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Of course it's not only the rich. The future of Canada is 100% taxation. Trudeau and Freeland will give everyone a bunk bed and 3 potatoes a day. All of us will work tirelessly 24/7 out of pure love and loyalty to Trudeau and Freeland

The capital gain inclusion rate is designed for the purpose of encouraging entrepreneurs to risk their capital to invest. And in return, they get a slightly better tax rate for their capital appreciation. Higher capital gain will discourage investment and hence the low productivity issue will never get fixed, wages/salaries will be stagnant/shunk because the pie (economy) will get smaller and smaller. The middle class population will continue to decline. This is scary where we as a country are heading into.

I only just bought my first house at 52, here in TO. I dumped some $$ into stocks about 10 years ago. And that was my down payment. Without an equity or crypto, their us NO WAY to get a down payment.

The GST started in '91 when $30 grand was a full fledged business. Now $30k is a used car. If you think used cars won't be $250k in 30 yrs, come with me back when gas was 40 cents, but Justin wants 61 cents in just the one carbon tax.

And? Tax is always BS, regardless. You'll only force out rich people, then be left with no choice, but to lower the standards. Rinse and repeat, until you're taking money from everyone. Tale old as time.

Need many more business leaders in Canada like this man!

Everyone, communist, said.

Its an entrenched combative aristocracy, not a capitolist democracy. Until the businessmen are weeded out of parliament AND the senate is made into an organization of ELECTED officials, instead of appointed ringers.🙄.

No kidding all our pensions are in there.

Correction: stock traders would have to make over $250,000 per year. And traders may have to report gains as income if they actually run it as a business. And you can't run a business in a registered account.

How true

I don't get why the government instead of increasing NRST taxes (for when foreign buyers buy real estate property in Canada) instead of increasing taxes for canadians. (I do get why. It's because they decided to ride the hot real estate market instead of encouraging anything else economy-wise and now it's too late for them to fix because if they act on the real estate, it can possibly pop whatever economy bubble we are in.) It just shows that the government is doing things to make the numbers look good, not doing things that are best for the country/people. EDIT: Also, I read that the new inclusion rate will only be applied on capital gains OVER $250k, so unless you categorize the 'not rich' in a category that is able to have capital gains/year over $250k, then it's not really dishonest that it will mostly only affect the rich. Please discuss with me if you think otherwise. And I say mostly because it will probably affect some upper middle class who sell their 2nd real estate properties that could have over $250k gain

Only impacts rich people that can afford to max out their registered accounts.

People in their 20s won't be hit by the new inclusion rate until their capital gain is $250,000 or more and I can't imagine any of them have that kind of money in play on their Wealthsimple apps.