The way some people are kvetching about changes in the capital gains inclusion rate, one would think that the federal government is forcing them to *sell* whatever assets these changes might apply to. /2 #cdnpoli
2/ Capital gains happen when the asset is *sold*, not in June of this year. There are no guarantees in life. One starts a business only to discover that the product or service are no longer marketable. /3
@DianeMariePosts affects .13% of population. avg income over 1 mill. & 1st 250k/yr old rate & lifetime exempt raised to 1.25m. & rate goes up, goes down: billionaires wealth grew 51% since the pandemic. Richest 20% own 67% net worth. Gap between rich & poor ⬆️. Time to pony up on PASSIVE income.
@DianeMariePosts @1MikeMorris The whiners average income $1.4M, all 40,000 of them.... .013% of the population. 🤣🤣🤣
@DianeMariePosts @HopeAldridge Exactly. You pay when you liquidate...
@DianeMariePosts This may cause the dreaded housing bubble pop. And of course this will impact the common people that aren’t in the Globe & Mail’s ‘Middle Class’
@DianeMariePosts What’s funny is that if they rush to sell before the new rate comes into effect, they are losing the benefit of those gains compounding.
@DianeMariePosts I wonder about the ratio of kvetchers to those who could potentially ever have a CG over 250k$? 😏