March 17, 2017

Joe Oliver: Why raising capital gains tax hurts more than “the rich”

Ezra LevantRebel Commander
 

Last night, former Harper cabinet minister Joe Oliver explained by an increase in the capital gains tax would impact more people than just "the one per cent."

 

Comments
You must be logged in to comment. Click here to log in.
commented 2017-03-17 15:08:52 -0400
In 1991 they enacted luxury tax in the United States on various big ticket items like yachts, aircraft , watches etc thinking they could generate lots of tax revenue. The tax boomeranged and actually lead to layoffs in many of the industries supported by the manufacturing and selling of the taxed luxuries. In the aviation industry, manufacturers like Piper, Cessna and Beechcraft all suffered losses in orders and sales. Fewer sales,less tax revenue.
In this case, the socialist government wants you to take the risk while they greedily stand to take your profits which you cannot reinvest and they waste for all of their stupid ill advised programs. In the end they will get less revenue and less will be invested. Another socialist anti capitalist policy that is ill conceived .
commented 2017-03-17 14:36:44 -0400
More common sense words from an intelligent man. Would be nice to have Joe Oliver as PM.