Mark Carney, newly elected leader of the Liberals, proposed eliminating the capital gains tax hike in his victory speech, aiming to encourage risk-taking among builders. While he received a significant majority in the vote, Carney's lack of parliamentary experience and his limited French skills garnered attention. Critics argue that he misrepresents the capital gains tax, which only taxes half of profits from investments, raising questions about fairness compared to regular income tax. The proposed tax increase was minimal, affecting only the wealthiest Canadians.
"We think builders should be incentivized for taking risks, and rewarded when they succeed."
Carney was deliberately mischaracterizing the nature of capital gains taxes and the reason the Liberals proposed the increase in the first place.
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