Yeah, lots of financial press whining in the last 2 weeks about how raising taxes on the rich or on corporations would be so unfair & so awful -- but "protect the rich!" just isn't going to cut it as a #BaloneyFactory slogan.
— Cathie from Canada 🇨🇦 😷🏳️🌈 🇺🇦 🇮🇱 (@CathieCanada) April 17, 2024
More comments:If very rich people are mad about the budget perhaps it’s actually good.
— Will Greaves (@WillWJGreaves) April 17, 2024
There is a thread among the ruling class that ANY taxation on capital is somehow bad for everyone. It is amazing how this has become mainstream thinking when even three decades ago it was seen as far-right economic thinking.
— Charles Smith @profsmithsask.bsky.social (@ProfSmithSask) April 16, 2024
We live in a country where people try to convince you that taxes, and not corporate profits, are the reason you are poor.
— Colin Hall (@yogicolin) April 17, 2024
We need to reimagine success as kindness and cooperation - not getting rich. https://t.co/7CgvUdKpXi
Going to amplify this for all my MD colleagues out there.
— Dr. Alika Lafontaine MD (@AlikaMD) April 18, 2024
Some good moves in healthcare in #Budget2024 .
And while many MDs make a good living, for those incorporated MDs who don't (looking at family physicians in particular) there's some pretty bad news in this years budget… https://t.co/rxh95Qq0Lv
The number of politicians, journos, & economists employed by banks bemoaning the fact that the 0.13% who make $1.4M a year in income & capital gains might now get a smaller tax break on capital gains than they've been used to getting since the '90s is astonishing #Budget2024 pic.twitter.com/SPNe5qIZTT
— Alison Creekside (@CreeksideAlison) April 17, 2024
I disagree. Certainly lots of scope for critiques of the government. And lots of possible tax changes to boost productivity that weren't adopted. But adjusting the inclusion rate to better align treatment of dividends and capital gains is not a problem.
— Trevor Tombe (@trevortombe) April 17, 2024
https://t.co/ScS2XOXaeg
Trudeau and the Liberals are increasing taxes for the 40,000 richest Canadians while providing exemptions and reductions for small business owners. This is a win for everyone. #budget2024 #canada #cdnpoli #canadiantax #capitalgains #capitalgainstax #canadian #canadianpolitics pic.twitter.com/YymQj4x0Uw
— Frank Domenic (@TheFrankDomenic) April 17, 2024
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:#Budget2024
— Right Wing, Shoots Left 🇨🇦🏒🥅🍁 (@HILITINGHOCKEY) April 16, 2024
Prepare yourselves for a social media barrage from the wealthy, who will spend millions upon millions of dollars in the coming weeks telling people who don't have a pot to piss in, that taxing the rich will hurt the poor.
Dear reader,
— Prairie Dawn (@CarlaFlogan) April 17, 2024
If your biggest problem right now is that there are consequences to you making over $250k in capital gains, we don't care.
Signed,
Most people
Rich people in Canada losing their minds over paying a little more.
— Lana Payne (@Lanampayne) April 17, 2024
While regular folks are getting fleeced at the grocery store.
Read the damn room. #cdnpoli
Moving on to other points:People be like: if you make the rich people mad they’ll all leave and take their companies with them and it’s like do you fucking promise? Have fun moving the oil sands, the bank of Canada and monopolized telecommunications companies 👋🏻 #Budget2024
— T Wirach (@WirachowskyT) April 18, 2024
The new disability benefit is a start, but barely that:It’s great to see the Canada Carbon Rebate for Small Businesses in #Budget2024!
— MP Ryan Turnbull 🇨🇦🇺🇦 (@TurnbullWhitby) April 17, 2024
The $2.5B that has been collected will be returned in directly to the many small businesses that are the engine of the Canadian economy! @WhitbyChamber #cdnpoli pic.twitter.com/scuaaUPqsO
https://t.co/NOsyo4GEj2
— timethief 🇨🇦 progressive feminist (@timethief) April 17, 2024
Advocates say a disability benefit that was supposed to be a historic move to lift people out of poverty turned out to be a disappointment in the federal #Budget2024 #cdnpoli #cdnpolitics
The new #CanadaDisabilityBenefit will provide a maximum of…
2 comments:
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.
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.
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