'Cannada is in crisis'
Episode Stats
Summary
In this episode, I talk about the new capital gains tax introduced by the Trudeau government, and why it's a disaster for Canada's economy and the people who will be hurt the most by it. I also talk about why the tax is a bad idea and how it hurts the middle class.
Transcript
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Canada is in crisis. Housing. Canada could be sitting on the biggest housing bubble of all
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time. Once it bursts, Canada could be thrown into a deeper recession than any have forecasted.
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Affordability. This is for anyone thinking of moving to Canada. Our food prices are outrageous.
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Here we have a pack of drumsticks from Costco. $202 for this pack or $224 for this one.
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Moral of the story, don't move here. A doctor shortage.
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Canada is expected to be short 30,000 family doctors by 2028.
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Do you know that 6 million Canadians don't have a family doctor?
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Right now, we're seeing that our healthcare systems are strained, if not broken, right across the
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country in many, many ways. And what has this NDP Liberal government come up with to solve that
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More taxes. They are now implementing a capital gains tax, which is going to affect 300,000 or more
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businesses in Canada. Does that make any sense? It is economic vandalism. This all started about two
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months ago. They made this big announcement that they were going to bring in this new tax. It took
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them two months to actually show us what they had in mind. Now that we see it, this is a disaster for
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Canada. It's a disaster for so many areas of our economy that need a hand up right now, not to be
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further pushed down. The country's doctors, lawyers, and other professionals are furious with the
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changes, saying that now, when they sell their practices at the end of their working lives,
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the government will be taking a much bigger chunk of their retirement nest egg.
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We really cannot introduce new reasons for physicians to scale back their practice,
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particularly in a community family medicine practice. It's simply the wrong move.
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When we don't have enough doctors and healthcare is deteriorating across the country, they've brought
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in a measure, a high tax measure, that will drive doctors south of the border. If you're a hardware
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store owner or you're a farmer trying to put seed in the ground right now, not in a position to advocate
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politically, or you're an organization like the CMA who says it'll be devastating, this affects you.
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And that is what is the case right now in Canada.
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And you believe only multi-millionaires will be impacted by this? And I ask you that genuinely.
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I host a radio show during the day. I have been inundated the past two days with people who have
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called saying, I did not have a public sector job and I have paid taxes along the whole way. And now I'm
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being told I'm among the ultra wealthy that has to fund the government's income redistribution plan
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essentially. Like, how is that about fairness? According to our calculations, 0.13% of Canadians
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will pay more every single year based on these measures. But the other thing, but the other thing.
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Just a challenge. That's just an annual basis, right? That's not, some people will only pay capital
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gains once over their entire lifetime. So the number of people who may be impacted could be far greater
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than what your government has put for it. I know you want to characterize this as we're okay to go
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after the wealthy and the conservatives are not. But there are a lot of people who do not feel
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wealthy who feel you are going after them. So who does it benefit? That's a good question.
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If you're bringing in something with devastating economic effect at a time when Canada is struggling,
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who does it benefit? Well, it benefits the government that gets a big cash load coming in.
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And it benefits large corporations. This is a tax that's punitive for the little guy.
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And why do they need more money in government? Because of their inflationary spending, because
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of their recklessness and their lack of accountability. Frankly, their incompetence when it comes to
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governing. So they need money. And who do they look to? The hardworking, middle income, small business
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owners in this country. We're looking at scandals day after day after day in this government.
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Millions and millions, hundreds of millions of dollars spent on outside consultants.
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Arrive scam, green slush fund. I mean, it goes on and on.
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It's probably some of the worst records keeping I've seen in a long time.
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Record keeping around the travel app was so bad, the Auditor General says, she still can't be sure
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And don't forget, this is a government that has spent more than any other government in Canada's
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history combined. They need money. And now they're going to go after you for the money they're looking
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for. If Trudeau was really proud of this legislation, he wouldn't have brought it in in the backdoor way
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he's done it. They make an announcement two months ago. We don't see the writing what it really means.
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And the way they brought it in means that we've had limited debate. You, your elected representatives,
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have very little time to have looked at this bill, considered it, and then debated it in parliament.
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And it's already going forward. The legislative end of this is going to happen in the future,
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but the government will treat June 25th, the date they proclaimed, as the date when everything changes.
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And then they'll let the legislation catch up later. That is not the way to do public policy,
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and it's certainly not the way to bring in taxation of hard working people. The only way to stop this
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is through an election, at the ballot box, and to bring in common sense conservative government
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that believes in smaller government, more efficient government, and bigger citizens. That believes in
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lowering your taxes, personal taxes, corporate taxes. And this is a tax that you don't need,
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and the country doesn't need. Enough is enough. This has to stop. You're the ones who can vote for that.
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I'm proud to be part of a party that is already committed to bring in a tax reform task force within 60 days
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of forming government, who will look to those who have the expertise, like entrepreneurs, business people,
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actually consult with Canadians about what our tax system should look like. We believe in people bringing
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home more powerful paychecks. And the only way to do that is to reduce taxation, reduce bureaucracy,
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cut red tape, and make sure that you bring home more of what you earn. There's a war on work in Canada
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right now, and we will reverse that. And as always, thanks for watching.