9 in 10 middle class families pay more income tax

Justin Trudeau has run out of Canadians’ money. As a result, he’s worried about a debt downgrade from ratings agencies, and has decided to introduce another job-killing tax on health care, homebuilding, small business and farmers.
This is Trudeau’s latest capital gains tax increase. Right now, investors are taxed on 50% of their gains. After this latest tax hike, they will be taxed on 66% of it.
Trudeau’s tax hike will mean that Canada’s marginal tax rate on capital will be one of the highest in the developed world, behind only Denmark and Chile
(Trevor Tombe, April 2024).
This won’t affect billionaires who had time to sell their assets and re-invest in another country, but millions of middle-class Canadians.