Business groups are warning #Finance Minister #ChrystiaFreeland that increasing #Canada’s #CapitalGains inclusion rate will have “significant knock-on impacts” if implemented with possible “irreversible repercussions.”
Six of the country’s largest industry organizations wrote in an open letter to Freeland Thursday that the proposed hike will impede economic growth and come at the expense of future generations.
Are there any folks connected to the science and tech sector who've publicly refused to sign this letter opposing increases to #capitalgains taxes? Or maybe there's another open letter circulating that supports capital gains or wealth taxes?
It's disappointing to see folks from Abcellera sign the letter, but fortunately I didn't see many other orgs from the biotech industry.
Here's my real opinion on the increase in the #CapitalGains inclusion rate in the recent federal budget: I don't think it was based on a belief it was necessary for "fairness". I don't even think it was based on a belief the gov't needs more revenue [0]. I think the #Liberals just wanted a symbol, something they can point at to claim that they are against the rich and for the middle class.
[0] The amount it will raise is not high, and PM Trudeau is unfazed by deficits.
Probably time to #tax the hell out of the rich. Increase #capitalgains put a tax on #stockbuybacks make a #weathtax real etc
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“The economy is cooling but the US is a frog in hot water
Government debt held by the public grows from 99 percent of GDP this year to 116 percent in 2034, more than twice its 50-year average...” #economy#gdp#debt
Is your salary less than $160,200?
If so, you’re among the 94 percent of American workers who pay into Social Security all year long. Thanks to a loophole that exclusively benefits the affluent, income above that amount simply isn’t taxed for Social Security.
That means someone like Tucker Carlson, who makes a reported $8 million a year, stopped contributing to Social Security on Jan. 8. Joe Rogan, who reportedly makes $4 million a month, stopped contributing on Jan. 2. #socialsecurity #gop
It’s always the interns and assistants, isn’t it? One of Trump's aides, Molly Michael, has told federal investigators that the former president wrote notes and "to-do" lists on the back of classified documents, including documents used to brief him on calls with foreign leaders or other international matters.
And when Trump heard the FBI wanted to interview Michael last year, Trump allegedly told her, "You don't know anything about the boxes."
Nothing suspicious at all about that, right?
I wonder if she’ll be called to testify by Jack Smith down in Florida.
So, #cryptocurrency#investments are subject to #CapitalGains taxation, in the same way as stock investment. This is quite different from the #income tax paid for savings or your work income.