Pierre Poilievre, the Conservative Leader, stood up to ask questions in Parliament on Wednesday, June 12, 2024. This photo was taken by Patrick Doyle for The Canadian Press.


June 19, 2024 Tags:

The Liberal government recently proposed changes to capital gains taxes, aiming to increase rates for the wealthiest Canadians. Finance Minister Chrystia Freeland argued that this move would promote fairness, asking if Canadians want a society where the rich live behind gated communities due to degraded public services, using private healthcare and airplanes.

In response, Conservative Leader Pierre Poilievre opposed the changes, even invoking Adolf Hitler and Joseph Stalin in a video, though it's unclear how these historical references relate to tax policy decisions in Canada.

The debate centers on whether to increase the inclusion rate of capital gains in taxable income, potentially affecting high-income earners. The Liberals argue that only 0.13% of Canadians earning an average of $1.4 million annually would be impacted each year, although over a lifetime, approximately 4.3% of taxpayers could be affected.

Poilievre criticized the Liberals, demanding assurances that the changes won't burden lower-income earners like welders, plumbers, or farmers. The Conservatives also warned about the impact on sectors like healthcare and agriculture, citing concerns from groups such as the Canadian Medical Association and Grain Growers of Canada.

Despite concerns about economic effects, the Liberals anticipate generating $19.4 billion in revenue over five years, earmarked for new spending on housing, pharma care, and dental care. Meanwhile, Poilievre promised further tax reforms if the Conservatives win, including lower and fairer taxes, potentially complicating future election debates. 

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

You may also like

Carney refuses to fire official over Chinese bounty remark on candidate

Liberal leader Mark Carney announced on Monday that he would not remove Paul Chiang as a candidate in the Markham-Unionville....

Cory Booker Delivers Long Senate Speech In Protest Of Trump

Senator Cory Booker from New Jersey gave a powerful, all-night speech in the Senate, protesting President Donald Trump’s actions. Starting....

Liberals Lead By 8 Points As Election Race Heats Up

Canada's election race is in full swing, with recent polls showing the Liberal Party gaining an eight-point lead over the....

Elon Musk Says He Gave Ashley St. Clair $2.5M In Child Support

Elon Musk is denying accusations that he has financially punished Ashley St. Clair and their child. The controversy started when....

Virginia Giuffre Hospitalized After Serious Car Crash

Virginia Giuffre, one of the most well-known accusers of Jeffrey Epstein, is in the hospital after a severe car accident.....

Trump Says Things With Canada Will Be Fine, But Tariffs Still Loom

U.S. President Donald Trump sounded hopeful about the relationship between his country and Canada after a phone call with Prime....

Liberal Candidate Apologizes For Bounty Remark On Conservative Rival

A Liberal candidate seeking re-election in a key GTA riding has apologized after making an inappropriate remark about a Chinese....

Partial Solar Eclipse To Dazzle Eastern Canada This Saturday

Eastern Canada will witness a stunning partial solar eclipse on Saturday morning. To catch the event, skywatchers will need to....

Trump Withdraws Elise Stefanik’s UN Ambassador Nomination

President Donald Trump has decided to cancel the nomination of New York Representative Elise Stefanik for the role of US....

Canadian PM warns of strained US-Canada ties over trade threats.

Canada’s Prime Minister Mark Carney warned that the country must significantly cut its reliance on the US as their relationship....

Poilievre Promises TFSA Boost To Encourage Canadian Investment If Elected

Conservative Leader Pierre Poilievre has promised to increase the limit on tax-free savings accounts (TFSAs) if he wins the upcoming....

Liberals Hold Strong Lead, But Conservatives Show Signs Of Recovery

The Liberal Party is holding a solid lead in the polls, with 48% of support compared to the Conservatives’ 36%.....