So the Chrystia Freeland’s Capital Gains Taxes, used to fatten the pockets of the public sector, kick in today, but at this point, nobody cares because if Justin can’t win a Toronto riding, chances are he’s gone, and so are all of his taxes.
Tax ENFORCEMENT is not as easy as lovers of Big government think. If someone is coming to your house to take your money, are you just going to wait for them to arrive, or will you start HIDING YOUR STUFF?
Most employees are aware of the progressive income tax system, so a lot of employees don’t do it overtime because overtime might put them in a whole new tax bracket.
The same rules apply to all taxes. The idea of the carbon tax was to get people to drive less, and it worked, but it also meant people SPENT less into the economy, which meant less tax revenue for the Liberal government, which is why they decided to raise the capital gains tax, which is supposed to affect the people with the resources to LEAVE the country.
Everything this Liberal government does is a clear sign of INCOMPOTENCE, short-sightedness, and something you’d expect an idiot who doesn’t know what they’re doing to do. These Liberals are so stupid it’s embarrassing. I have to remind people reading this the Trudeau Liberals lost the popular vote TWICE, which means even Leftists knew they were morons.
Now that it’s pretty clear Justin Trudeau will lose the 2025 election, if you’re rich you may wait it out until 2025 and let your lawyers haggle with the government and the CRA, and then strike a deal with the new government, who will more than likely like shrinking the all of these WORK FROM HOME public servants.
Lastly, you have to remember that Leftists live in their own bubble; they imagine that the private sector has to yield to the government, not comprehending how TARIFFS work. For example, a lot of Canadian manufacturing is now offshore, so Canada has, for the most part, become a service sector economy, and if you don’t understand what that means, it means we’re heavily dependent on the international PERCEIVED value of the Canadian dollar on the Forex markets.
This is why the Bank of Canada had to raise interest rates to avoid the Looine being debased because if you’re dependent on foreign imports, you can’t control what price foreign countries charge you to purchase their stuff.
For a lot of Leftists, they imagine that importing more migrants will solve the problem. However, they’re missing the point that higher taxes make people SPEND LESS MONEY. The example I provided above is how the world works; if you tax me more, I’m going to find a way to avoid paying the tax, and that INCLUDES spending less because most goods and services in Canada charge SALES TAXES.
So even if you’re looking at fiat money from the point of “consumer power” people need CAPITAL to consume, and if most of the money Canadians are spending is going to taxes, they’ll have less money to CONSUME things, which means less revenue for the government making them more dependent on the central bank to borrow money from, at a higher interest rate.
Anyway, we’ll see how it all goes.