Canadian Taxpayers Federation challenging Trudeau's undemocratic capital gains tax hike in court

"We're taking the Canada Revenue Agency to court for enforcing the undemocratic and illegal capital gains tax hike," said Franco Terrazzano, federal director of the CTF.

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On last night's episode of The Ezra Levant Show, Franco Terrazzano discussed the Canadian Taxpayers Federation's legal challenge against Trudeau's capital gains tax hike.

Last year, the Liberals increased the capital gains inclusion rate from 50% to 66.67% for individuals with gains exceeding $250,000 and all corporations and trusts.

Terrazzano explained the potential negative impact of the tax hike and why it was implemented undemocratically and illegally.

"It's Parliament's job to approve tax increases. Well the government has failed to introduce legislation, debate legislation, pass legislation, or proclaim legislation into law," he said.

"And with an election likely right around the corner, it likely never will. And yet you still have these unelected bureaucrats at the CRA that are going to be taking billions of dollars from Canadians with this undemocratic tax hike," added Terrazzano.

He also noted why the tax isn't just an undemocratic cash grab from wealthy Canadians, but will also impact people making far less than $250,000. "This is going to affect more than a million Canadians, half of whom earn $117,000 or less. This is a financial sucker punch to people who worked hard their entire lives," Terrazzano said.

The CTF's federal director went on: "This is also a tax hike that will push that young, smart Canadian graduate who wants to start the next Google here, to leave Canada and set up shop in another country."

According to reports, former finance minister and deputy prime minister Chrystia Freeland will scrap the capital gains tax hike if selected as the new leader of the Liberal Party.

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COMMENTS

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  • Bernhard Jatzeck
    commented 2025-01-28 23:16:10 -0500
    He doesn’t get it about ordinary people. Guess who raised him? I remember an old joke about Pierre. PET must have loved the unemployed because he created so many of them.
  • Bruce Atchison
    commented 2025-01-28 21:18:56 -0500
    Yet again, Trudeau doesn’t get it about ordinary people. He thinks only the ultra-rich citizens will feel the pain. Everything this wrecking ball of a politician does is stupid and wrong. What an insufferable jerk!