Yikes! A lot of misunderstanding circling about the capital gains inclusion rate being raised. Time to clear some things up! Firstly, it’s not a *tax* of 50% or 66% - that is the percentage of the amount of gains that is *allowed* to be taxed 🧵 #Budget2024 #CdnPoli

Capital gains are simply the amount of income received from an investment. In Canada, 100% of workers’ earnings are taxed, but only 50% of gains from investments are taxed, favouring the wealthy over working people💰 #Budget2024 #CdnPoli

In #Budget2024 , the capital gains inclusion rate will be raised to 66% on gains above $250,000, impacting only the richest of Canadians, with an average gross income of $1,411,000 🎩 It’s an effective way to #TaxTheRich