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Finance Minister Chrystia Freeland attempted to defend the Liberal government's planned capital gains tax hike, warning of a dark future for Canada should the increase not be passed. Critics of the tax hike say it will drive investment south of the border, to the United States.

Chrystia Freeland attempts to defend her capital gains tax hike and warns high earners of "the wrath of the vast majority of their less privileged compatriots." https://t.co/vD78U4ZuZQ pic.twitter.com/g7Q9rObIqb

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On Tuesday night's episode of The Ezra Levant Show, Canadian Taxpayers Federation director Franco Terrazzano joined Ezra to discuss the problems Freeland's latest tax hike will cause for Canadians.

Freeland, in an attempt to defend the decision, warned of passing on “a ballooning debt onto our children.” This, Franco told Ezra, is incredibly ironic given the Liberals' last eight years in power:

Did the finance minister just warn about adding debt onto the backs of future generations? Are you serious?

I mean, as of this year, the Trudeau government will have officially doubled the entire government debt. Nine years, doubled the entire federal debt by adding $600 billion onto the debt tab.

Well, who's going to be paying for that? Canadians' kids and grandkids, future generations of Canadians will be making payments on the debt for their whole lives. So, I don't think Canadians buy that line of argument from the finance minister or the Trudeau government.

But you know what I think that Freeland and Trudeau really have to worry about here, are Canadians who are absolutely fed up about being overtaxed — all the tax hikes that we're seeing — and the federal government wasting our money like crazy.