A lot of wealthy people are leaving Canada, some of them claiming to want to leave forever, and this appears to be one of the motivating factors, for the Liberal-NDP coalition raising capital gains taxes.
Justin Trudeau, like his father, Piere Trudeau, is a tax-and-spend Liberal. In their minds, government spending isn’t the problem; the problem is the tax cheats, not wanting to pay their governments every increasing spending.
As the housing market in Canada appreciates because the loonie’s domestic purchasing power is losing value, the Liberal-NDP regime imagines that it can generate some capital by raising taxes on what they imagine will be a booming real estate cycle.
It would almost seem orchestrated that these capital gains tax changes happened when the Bank of Canada lowered interest rates, but in my opinion, this was short-sighted because part of the problem Trudeau’s regime created is that fewer Canadians have access to disposable spending.
Trudeau who lost the popular vote in the last two elections, is making Canadians feel depressed; I think this is very important because Donald Trump, who I believe had the 2020 election stolen from him, was also very UNPOPULAR. He lost the popular vote, and the result of this led to a lot of people in the U.S. feeling depressed while he was their President.
About 55% of Americans didn’t like Trump, for Trudeau hasn’t cracked 33% since 2015, so this gives you an idea of how bad Justin Trudeau is making Canadians feel, and this, more than anything, is fueling Canadians with the means to do so to flee the country or because of financial hardships sell their Canadian assets. You have to also remember that a lot of the tax collection Trudeau hopes to get will go to paying down the growing debt he’s caused.
It’s not like these tax hikes are going to create any new social services, and if Trudeau does create new social services, he’ll have to raise additional taxes to pay for those additional social services, so in general, Justin is creating a nightmare for Canadians, and this will likely be the legacy he leaves behind debt, depression, and higher taxes. Don’t forget that Trudeau also created the CARBON TAX!