Thursday, April 18, 2024

"Protect the rich" is NOT going to catch on

Recently I've been seeing many articles that tut-tutted about how awful it would be for rich people and Canadian corporations to have to pay more taxes. 
I couldn't understand why this had suddenly become such a hot topic and then I realized: why, of course!  There's a new Liberal budget coming up, and chances are it is going to raise taxes for the wealthy. 
So of course the corporations and the millionaires made sure to get their media out in force beforehand, to try to set the tone of the debate and generate sympathy for the trials and tribulations of the rich. 
But I don't think it will work -- even Poilievre's Baloney Factory won't likely promote a "Protect the Rich!" slogan, because Canadians won't be fooled:
More comments:
I'll be waiting to hear whether Poilievre and the Baloney Factory try to call Trudeau "divisive" now because of this budget. Somehow, I don't think that will get much traction either: Moving on to other points: The new disability benefit is a start, but barely that:


Lorne said...

The fact that such a minuscule number of people are facing increased taxation tells us all we need to know about the Trudeau government, Cathie. As I have said before, Mr. Trudeau has never met a corporate titan he doesn't love. His budget, and the relatively paltry amount of increased revenue for the federal coffers, shows us who his real masters are.

Cathie from Canada said...

There is an entire industry in Canada built around telling people how to avoid taxes - most of the so-called "financial services" sector markets itself and keeps itself busy doing this for clients. So anything that affects their strategies is a big deal for them, though not for most of us.
That said, it wouldn't surprise me if the capital gains changes actually affect more people than they realize or are admitting to now -- when GenX sells or inherits the family cabin, they will be paying more in capital gain taxes due to the enormous inflation of property values over the last 50 years, and the changes will also affect professionals like MDs who have incorporated themselves.
After the bare trust fiasco, I don't think our Canada Revenue leaders know how much their bright ideas will affect people.