Tax Me Harder!

It’s too bad that the Conservatives continue to remain largely silent on the critical issue of repealing Justin’s capital gains tax hikes. The impact is far from trivial.

Based on conventional assumptions that an increase in the tax-inclusive cost of capital by 10 percent causes the capital stock to fall by 7 percent, I estimate that Canada’s capital stock would fall by $127 billion. Employment would permanently decline by 414,000. To put this in terms of its impact on unemployment, the capital gains tax hike would increase unemployment from 1.5 to 1.9 million Canadian workers as of August 2024. GDP will fall by almost $90 billion and real per capita GDP by 3 percent.

 

20 Replies to “Tax Me Harder!”

  1. Haha. “Conservatives” Canada has 3 or 4 parties that are all communist grifters to varying degrees.

    Any party that supports a tax on income (whatever the mode of theft) is a commie. “From each according to ability, to each according to need”: Every party in Canada.

    The fact that we’ve all been brainwashed from birth to think otherwise does not make it untrue.

  2. Our conservatives in this country will complain about the media in the morning, but they are afraid to say anything of substance in the afternoon because they are afraid to be labeled by that same media as mean or “far right”.

    They are mostly cowards.

  3. Hence, the reason why I do not identify as a Conservative. Too many are spineless, treasonous, and grifting.

  4. Perhaps, just perhaps, in that uneasy period before an election there is little to be gained from manoeuvring in front of your enemy. The Conservatives are working a plan that appears to be more effective than their opponent.

    Does introducing a new variable before it’s required really help? Does changing a simple and clear message really help?

    When an election is called and the clock starts to tick, that’s when their platform can be dissected.

    1. What message? ‘Gatekeepers bad except when I want to put tariffs on Chinese EVs and stuff and maintain supply message’ sure isn’t clear.

  5. The capital gains tax is literally at least an order of magnitude worse than any carbon tax and a sane political right would’ve made a bargain to accept that latter at the cost of repealing the former and making up any future differences from spending cuts.

  6. The capital gains tax is too easily demagogued, and the average innumerate Canadian cannot understand even the most basic economics, coupled with the fact that it is an infantalized nation of envy and it won’t work. get elected and fix it without fanfare.

    1. If there was ever a time where it could not be demagogued, now is the time. Further, the upcoming economic malaise would vindicate the criticism.

  7. Hi to all. Haven’t been on the Internet for a long time. Two-Face is doing what his puppet masters are telling him & the rest of the Liebrils to do, along with the rest of them. It is a very disturbing situation in Canada. There is only two ways it can change. 1] – If the Conservative’s get a super majority & repeal every piece of crap legislation that the Two-Face & all the rest of the Leech’s that’s kissing his boot’s have put in place. 2] – If the majority of Province’s rebel against the Federal Government. As the Older Generation told us : that the Government’s were going to steal us blind, tax us to death & turn Canada into a complete Nanny Communist Country led by idiots.

  8. They don’t have to release a detailed statement of alternative policy to rebut the things the lefties are doing to this country.
    They just have to be willing to stand up, quickly, and say that what is happening is going to drive up unemployment, drive up prices, drive up taxes, or reduce the amount of free crap that is being shoveled out to the public.
    By hiding in their basement they make it look like they’re not upset with what is happening.

    1. A party platform must have some details. If you leave a blank canvas, your opponents will paint it for you. This is a major reason why the insipid ‘centrism’ of Scheer and A-Erin O’Toole failed and will almost always fail. Their inoffensive/muddled policy outlines let the Liberals define them.

  9. Taxes on capital are the destruction of wealth and jobs, and despite what Trudeau claims, this will affect more than the top 0.04% of taxpayers.

  10. I think I read that the Conservatives were planning to implement a substantial tax reform and overhaul when they form government, but only after consultations. As much as I would like to believe the Conservatives, the “after consultations” part does not inspire confidence. Every journalist, academic and expert in Canada will spend the entire consultation period trying to panic voters with stories of doom and destruction. Conservatives in Canada have a mixed record, at best, at standing up to the chattering class and remaining true to their promises and principles. Hope I’m wrong.

    1. I hope you are wrong to but…what would the so-called “experts” (snicker) in our “establishment” (snicker gain) institutions advise? Let me quote myself:

      “Canadian conservatism badly needs a wholesale purge of all these Toronto/Ottawa/Montreal-based political consultant types, ‘wise men’, pollsters, pundits, elder statesmen, party hacks, foreskin-cleaners, assorted mouth-breathers and other nervous-nellies peddling shopworn conventional wisdom (read: bubble-dwelling, fart-catching, bloviating also-rans who would be virtually unemployable in virtually any other capacity).”

      1. It’s a paradox for conservative’s – the more ridings they win, the more weak-knee central and Atlantic Canadian progressive conservative MPs. This makes it difficult to reduce the size of government because progressive conservatives like big government, big spending and are afraid of the media.

  11. I have to side with “Don’t give your opponent any help while they are self-immolating!”
    PP and the CPC don’t have to say much, or offer more than they already have, to toss out the Lieberals.
    Why give the LIEberals, and their media sycophants, any extra source material to work with?
    As an agenda question/issue, its fair to continue to remind PP that this raise in the Gains Tax is prohibitive. So is Dental Care. SO is Pharmacare, so is school lunches, so is $10/day daycare (HA!), etc, etc, etc.
    If he were to bring those issues up today, it just gives the LIEberals something to work with, so, dont mention any of it, he doesnt need to, to toss the bums out.
    Blackie and his miscreants are doing a good enough job themselves to get tossed out, just stay out of their way and let them continue to screw up daily.

  12. the problem as I see it, there far too many voters that do not possess a high enough I.Q. to even make a wise decision come election day

  13. If the Conservatives simply undid the past 9 years of legislation and regulatory controls passed by the #Libranos they’d be golden.
    Sure, the Senate’s going to do its best to hold that up, but when they see how *nothing else* is being dealt with in the interim, until the lost decade of idiocy is vanquished, they’ll let up.
    (and the sale of the English CBC in its entirety, word is they’re going to keep the French parts. The feds could simply sell the French CBC / Radio Canada? to the gov’t of Quebec for $1. and at least the bleeding would stop)

    *sober second thought, lol…

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