Happy Monday Morning! We typically try to steer clear of politics in these weekly musings. However, there were two big lies told by the Trudeau government this past week, both of which relate back to housing, the key focus of my work. The federal budget announced this past week brought no reduction in spending, shocking I know. However they did find new revenue sources, they will be increasing taxes on capital gains. Under the current tax rules, if you sell an investment for a profit, only half (50%) of the capital gain is included in your taxable income. The budget will increase the capital gains inclusion rate to two-thirds (66.7%) for capital gains realized on profits above $250,000 for individuals.
This is an "eat the rich" type policy to grab votes and make up for the feds reckless spending but it is so poorly thought out that I think it will actually do the exact opposite of what they say it will do. It is clear the only thing Trudeau cares about is getting re elected. Smh
Small business owners and professionals all don’t have company benefits, unemployment insurance, realtors don’t have worker’s compensation and none of the people in this sector have company pensions. They also tend to be fiscally responsible and save for the unexpected and retirement. So, what I’ve been hearing on the news all week is that this is a bad thing and now we have to pay.
While everyone is crying about all the juicy thing that employees get and small business owners do not, let us remember that business owner enjoy MANY tax write-offs that employees do not. The tax system is heavily tilted in favour of business owners. Almost every wealthy person I know is a business owner. Please stop crying the blues.
Funny part is Trudeau says you should avoid wedge issues which drive Canadians apart. Maybe that’s why there’s a spate of punctured tires in Vancouver with a sign “eat the rich”. Good YouTube video by Andrew scheer where he proposes a new word for the Oxford dictionary “trudeauing” a combination of gaslighting and hypocrisy. We can dump him. Vote conservative
This is an "eat the rich" type policy to grab votes and make up for the feds reckless spending but it is so poorly thought out that I think it will actually do the exact opposite of what they say it will do. It is clear the only thing Trudeau cares about is getting re elected. Smh
Small business owners and professionals all don’t have company benefits, unemployment insurance, realtors don’t have worker’s compensation and none of the people in this sector have company pensions. They also tend to be fiscally responsible and save for the unexpected and retirement. So, what I’ve been hearing on the news all week is that this is a bad thing and now we have to pay.
While everyone is crying about all the juicy thing that employees get and small business owners do not, let us remember that business owner enjoy MANY tax write-offs that employees do not. The tax system is heavily tilted in favour of business owners. Almost every wealthy person I know is a business owner. Please stop crying the blues.
Funny part is Trudeau says you should avoid wedge issues which drive Canadians apart. Maybe that’s why there’s a spate of punctured tires in Vancouver with a sign “eat the rich”. Good YouTube video by Andrew scheer where he proposes a new word for the Oxford dictionary “trudeauing” a combination of gaslighting and hypocrisy. We can dump him. Vote conservative
Mexico is looking better and better