Business
Proposed federal tax hike would make Canada’s top capital gains tax rate among the highest of 37 advanced countries
From the Fraser Institute
By Jake Fuss and Grady Munro
Ottawa’s proposed increase to the effective capital gains tax rate will result in Canada having among the highest—and least competitive—top capital gains tax rates in the industrialized world, finds a new study released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank.
“The evidence is clear—taxing capital gains deters investment, particularly smaller and start-up firms, which in turn slows productivity gains and innovation, all things Canada needs right now to raise living standards for workers,” said Jake Fuss, director of fiscal studies at the Fraser Institute and co-author of Canada’s Waning Competitiveness on Capital Gains Taxes.
The study finds that by increasing the inclusion rate, the federal government has made Canada less competitive compared to other advanced countries. At a 50 per cent inclusion rate, Canada’s top capital gains tax rate ranked between 17th and 23rd (depending on the province) out of 37 high-income developed countries in the Organization for Economic Co-operation and Development (OECD).
Raising the inclusion rate to 66.7 per cent means Canada’s top capital gains tax rate would be among the highest and least competitive (between 8th and 13th highest, depending on the province).
The study notes that if Canada’s capital gains inclusion rate were lowered to 33.3 per cent, Canada would be among the most competitive in the OECD, ranking 30th and 31st, again, depending on the province.
“Instead of raising taxes on capital gains, policymakers should consider reducing taxes as a way of attracting much-needed investment, and reversing Canada’s current economic slump,” Fuss said.
Jake Fuss
Director, Fiscal Studies, Fraser Institute
Grady Munro
Fr0m LifeSiteNews
The U.S. Department of Health and Human Services has been providing massive funds in the name of COVID despite the fact that Joe Biden admitted the ‘pandemic’ was over by 2022.
The U.S. Centers for Disease Control and Prevention is withdrawing $11.4 billion in COVID funding to state and local health departments, non-government groups, and international recipients about two years after the U.S. government declared the COVID-19 “national emergency” over.
“The COVID-19 pandemic is over, and HHS will no longer waste billions of taxpayer dollars responding to a non-existent pandemic that Americans moved on from years ago,” HHS director of communications Andrew Nixon said in a statement, NBC News reported.
“HHS is prioritizing funding projects that will deliver on President Trump’s mandate to address our chronic disease epidemic and Make America Healthy Again.“
Despite the fact that former President Joe Biden admitted in 2022 that the COVID “pandemic” was over, Health and Human Services (HHS) has been continuing to allocate funds for COVID testing, “vaccines,” and “global COVID projects,” according to CDC talking points.
The funding cut comes as millions of dollars for other initiatives, including vaccine hesitancy research and HIV prevention, are slashed under new HHS Secretary Robert F. Kennedy Jr.
HHS has made the greatest funding cutbacks government-wide, according to the Department of Government Efficiency’s website.
Dr. Robert Malone argued in 2023 that the only reason the Biden administration decided to end the national COVID “emergency” when it did is because of the congressional legislation seeking that end.
“The bottom line is that the imperial U.S. administrative state will never give up these unconstitutional powers until forced to do so,” Malone wrote.
For years, major corporations bragged about their wonderful Diversity, Equity, and Inclusion (DEI) programs. They’re good for business and morally correct, they said. So why are they now cutting those programs?
Robby Starbuck says these programs once got a lot of buy-in, because people wanted to be nice! But DEI came to mean much more than just being nice.
Starbuck says what it looked like in practice was “crazy trainings” and “overtly racist hiring practices.” Now lots of people agree with him.
Companies actually take notice when Starbuck tells his many followers about their DEI programs. Often the programs get dropped.
That’s the power of free speech.
After 40+ years of reporting, I now understand the importance of limited government and personal freedom.
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Libertarian journalist John Stossel created Stossel TV to explain liberty and free markets to young people.
Prior to Stossel TV he hosted a show on Fox Business and co-anchored ABC’s primetime newsmagazine show, 20/20. Stossel’s economic programs have been adapted into teaching kits by a non-profit organization, “Stossel in the Classroom.” High school teachers in American public schools now use the videos to help educate their students on economics and economic freedom. They are seen by more than 12 million students every year.
Stossel has received 19 Emmy Awards and has been honored five times for excellence in consumer reporting by the National Press Club. Other honors include the George Polk Award for Outstanding Local Reporting and the George Foster Peabody Award.
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