Aecon Group Inc T.ARE

Morneau also says not good for Canada

[Gabriel]

https://apple.news/AISyGbEONRTuUzARj-JFaVA

[Gabriel]

Prime Minister Justin Trudeau’s former finance minister said he rejected the idea of hiking the capital gains tax while in office due to concerns it would stunt Canada’s economic growth, and called the move “very troubling for many investors.” Bill Morneau was Trudeau’s first finance minister from 2015 to 2020 before resigning due in part to disagreements over fiscal policy. He said on Wednesday

[Henrye]

Trudeau will suffocate the investment in business.

[Dibah420]

That's rich coming from Bill Morneau who surprise! surprise! whines that taxing the super rich is not good for Canada. Most folks here will never be in that ethereal cohort whose capital gains exceed $250k in a single year.  Morneau probably is.  Having sold the business that was founded by his father to Telus for $2.3B and, additionally, having married into the McCain Foods family

[WizardFuture]

Lol  $250k in a single year is not a lot. We are managed by people that can't count. Who in the hell thinks it's good to hike capital gain tax? Canada has productivity problems.  And what's not surprising the clowns in province of Quebec decided to follow the same new rule. Trudeau is like the worst prime minister ever. He's as good as his father.

[Dibah420]

Yeah, sure "Canada has productivity problems".  We all know that. That has become a catchy but vapid phrase I hear repeated a lot,  by Andrew Coyn and other folks at the Fraser Institute. Has anyone ever demonstrated that letting the rich get  richer enhances  Canadian productivity?  Or are we still talking trickle down nonsense. There is no comparison between

[Gabriel]

The case is strong wouldn't you agree ? https://www.fraserinstitute.org/article/new-capital-gains-hike-wont-work-as-claimed-but-will-harm-the-economy   A big business to start is to buy mansions and rent them for the super rich for six months a year. A lot of them will sell all their assets in Canada and rent for six months as non-residents with zero income tax. A tax payer with 1m

[Henrye]

Thumbs up with your logic! 

[Dibah420]

Thank you for the link.  I will probably disappoint you but it is hardly a case, let alone a strong one.  Among the the half-dozen sources cited I found only one to be useful, and it was the piece by David Williams of the BC Business Council.  All the rest were published in the FI Journal i.e. internal Fraser hacks.  As you might have guessed I have little use for Fraser, which

[iknownothingalot]

Well, you're not enamored by Trudeau and obviously Mr. Polievre does not excite you. Is it then safe to assume that Jagmeet floats your boat. BTW I disagree with you about PET, his lack of knowledge in the finance department put the country in a big hole. I do agree the son is doing much more damage due to his treaty with the NDP.

[Dibah420]

Jagmeet?  Hardly.  He has been a disaster for the NDP and should resign.   The party fritters away whatever voter support it manages to muster on rare occasions  e.g. Quebec, Alberta etc,  mostly due to intercine bickering. Look, lack of productivity in Canada is simply a symptom; our problem is lack of serious leadership at ALL levels.  Federal, provincial