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Capital gains tax hike must be scrapped immediately

The article from MSN discusses the backlash against the proposed capital gains tax hike in Canada. Critics argue that the increase, which would see the inclusion rate for capital gains rise from 50% to 66.67% for gains over $250,000, could stifle economic growth and investment. The article highlights concerns from business leaders, investors, and some politicians who believe this change would discourage entrepreneurship and innovation, potentially leading to capital flight. They call for the government to reconsider or scrap the tax hike immediately, emphasizing that it could negatively impact Canada's competitiveness on the global stage. The piece also mentions the government's rationale for the tax increase, which is to fund social programs and reduce income inequality, but critics argue that the long-term economic drawbacks might outweigh these benefits.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/politics/government/capital-gains-tax-hike-must-be-scrapped-immediately/ar-AA1zsVIl ]