Michael Taube: Why the Capital Gains Tax Hike Is Detrimental to Not Only Wealthy Canadians, but All Canadians

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.” Dodge’s analysis was right on the money. We don’t have to look much further than Ottawa’s decision to target capital gains, a policy that will be detrimental to not just wealthy Canadians, but all Canadians....