Die Kapitalgewinne steigen und erwirtschaften weniger Einnahmen als erwartet
https://www.bloomberg.com/news/articles/2024-10-09/canada-capital-gains-tax-to-yield-less-revenue-c-d-howe-says?utm_source=twitter&utm_campaign=socialflow-organic&utm_content=economics&utm_medium=social&cmpid%3D=socialflow-twitter-economics
20 Comments
No shit.
Because everyone is pulling investment out of this dipshittery.
Time to implement a wealth tax. We must find more money to give around the world instead of allowing Canadians to have a decent quality of life.
This is only going to get worse if the NDP-Liberal government stay in power.
Very predictable.
Talking with my accountant, I think they were hoping a lot of people would cash out to avoid the additional tax, and than they have a quick inrush of cash. Turns out no body did anything.
How many times now have the LPC and it’s followers rejected the predictions of classical economics, only to prove then true.
They could eliminate the Principal Residence Exemption right now and raise 15B per year in revenue. But, that’s not as popular as attacking the ‘rich’ capital class.
It’s because people started investing less in the country. Canadian productivity way down as a result. There is a point where taxes are actually too high.
It was and is just a tax policy. It didn’t destroy the economy to have a 66% inclusion rate under Harper and and it was never going to under Trudeau.
Everyone with means sat down with their accountant and got some sense talked into them so they didn’t fire sale their capital assets. Everyone else wasn’t going to be affected anyway because of the thresholds on the inclusion rate. This policy was only ever going to result in a long-term but small increase in tax revenue and a small redistributive effect at the top end.
The Liberals are *not* fire-breathing communists economically. It’s worse than that – they have *no* underlying economic theory so every policy is just a mix-and-match from the grab-bag of the past, which means a lot of what they do is counteracting the rest of what they’re attempting, leading to an incoherent fiscal policy that serves nobody’s interest.
Millionaires and billionaires always have a way to not pay. The system is rigged by criminals and traitors.
In other news water is wetÂ
Now where’s deficit going to come from? Legit taxpayers!
Just a reminder that on a population adjusted basis tCanada employs 6x more people and spends 7x more money on federal tax collection than the US. Tax collection is big business up here in Canada.
‘Took more then expected, yielded less revenue than planned’.
Huh. Neat.
You never want anyone in an economy to be given wealth without producing an equivalent amount. Just owning capital isn’t a reasonable way to make money. Capital gains should be taxed totally.
I’m talking in absolutes here. We could very well have a sovereign wealth fund that owns all capital and redistributes revenues equally. Since everyone receives the same amount of money, it’s as if no one receives any money. So the distribution is cancelled.
Financial wizards who earn money via inheritance and graft don’t understand economics. Amazing.
The joke is they already budgeted for and spent the missing 60% – guess who pays?
Oh my. Oh my goodness. Imagine my surprise.
🙄
I’ll still take the $3 billion
Huh.
Whodathunk it. Liberals underestimating revenue and overspending because of that?
It’s a story as old as time itself.