July 5, 2024 · 0 Comments
Kyle Seeback, Member of Parliament for Dufferin-Caledon, released the following statement on the federal government’s capital gains tax hike:
“Justin Trudeau and his incompetent Finance Minister have scrambled to bring in their latest tax hike to pay for their uncontrolled inflationary spending. This tax hike comes nearly two months after the Liberals tabled their budget when they announced their intention to make changes to Canada’s Capital Gains taxes, creating chaos, uncertainty and confusion. They are raising taxes on hardworking Canadians yet again without even passing a law.
“After nine years of Justin Trudeau, Canadians’ standard of living is falling as a result of our declining productivity, particularly in comparison to countries like the USA. This is because Canadian workers don’t have access to the same tools and technology, otherwise known as capital. As a result of the Liberals investment-killing policies, including this increase of the Capital Gains tax, capital has been driven out of Canada and Canadians are worse off.
“This is a job-killing tax on health care, homebuilding, small business and farmers. Businesses, jobs, doctors and food production will leave Canada. Everyone left behind will pay the prices with fewer jobs and higher costs for everything. Taxing farmers drives up food costs. Taxing doctors mean it’s harder to find one. Taxing homebuilders means fewer homes. And taxing small business means fewer paycheques.
“Despite Justin Trudeau’s claims otherwise, billionaires will not pay more because he gave them a two-month window to sell their investments and move their money abroad to pay lower taxes building foreign businesses. Instead, it impacts Canadians who have one-time sales or disposal of long-term assets, like a grandmother trying to give some of her farmland to her children for homes. Additionally, 300,000 businesses, and indirectly, their workers will pay this tax hike, based on the government’s own numbers.
“Canadians know Justin Trudeau is not worth the cost. This is why within 60 days becoming Prime Minister, Pierre Poilievre will name a Tax Reform Task Force of entrepreneurs, inventors, farmers and workers (but no lobbyists) to design a Bring it Home Tax Cut that will:
“Common Sense Conservatives will unlock the potential of our strivers, inventors, builders, entrepreneurs and workers to restore Canada’s promise. Those who go sleepless nights mortgaging their homes wondering how they’ll pay employees will have their success rewarded and not vilified. Instead of turning workers against business owners, we should turn workers into business owners. We will be a country where hard work earns powerful paycheques and pensions that buy affordable food, gas and homes in safe neighbourhoods,” the statement concluded.