Michael Taube: Why the Capital Gains Tax Increase Hurts All Canadians, Not Only the Wealthy

Michael Taube: Why the Capital Gains Tax Increase Hurts All Canadians, Not Only the Wealthy
Deputy Prime Minister and Minister of Finance Chrystia Freeland presents the federal budget in the House of Commons in Ottawa on April 16, 2024. The Canadian Press/Adrian Wyld
Michael Taube
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Commentary
Prime Minister Justin Trudeau and the Liberals unveiled the federal budget last week. Most Canadians had already braced themselves for yet another disastrous round of government interference, tax hikes, and wasteful spending. David Dodge, a former Governor of the Bank of Canada, even told CTV News Channel’s “Power Play” this would “likely to be the worst budget” since 1982 “in the sense of pointing us in the wrong direction as to how we go about raising the incomes of Canadians and actually making Canadians feel better over the medium term.”