The capital gains tax grab is actually your money, the federal government intends to take it from you and are claiming they are taking it to be “fair” to you. Could not be further from the truth.
What do I mean? The generations that currently hold the lion’s share of this capital have but one thing in mind, to pass it along to you (plus any accompanying gains), just as it was passed along to us from the generation that came before. This is but another misguided policy that will have the effect of dividing Canadians. This time, along generational lines, pitting boomers (1946-64) and gen x (born 1965-80) against millennials (1981-96) and gen z (1997-2012) in the name of “fairness”. For perspective I am a part of gen x (b. 1967) The truth of the matter is no generation of Canadian is being treated “fairly” by a government unable to curb their insatiable tax and spend appetite. Do not fall for this for one minute, this government has been asking “for just a little bit more” from 2015 onward. They are terrible stewards and left unchecked would literally take every last dollar any of us has to our name, they are ideologically possessed and are unable and unwilling to see the train wreck they have created. Each generation has historically passed along the wealth and assets they have been entrusted with from the previous generation along to the next generation. Indeed, no generation has ever been able to “take it with them” when they have passed into history. The current oldest generation is no different, the assets and wealth will inevitably be passed to the generation that comes after them. We have a responsibility to you, and we take it seriously. The only time this approach gets short circuited is when a government attempts to intervene and typically makes a horrendous mess of the whole thing. We face such a time today. When the government intervenes with yet another tax grab, as they are attempting to do so now, they are actually taking the money away from future generations. That is a far cry from the “fairness” that is currently being touted by this government. It is decidedly unfair and will ensure the next generations are poorer than the ones they will replace. This is not a hard thing to understand. Wealth can either be passed directly from one generation to the next in an efficient and sensible manner without any extra interventions from government or, it can be siphoned off by government and taken out of the hands of the generation it is meant to be passed on to. The current federal government is proposing that they are better stewards of privately earned capital than the people who earned it, and it is they, the federal government, not the generation that built it, that should take it and redistribute it as they see fit. Where have we heard this kind of thing before, and where will it lead us? Wealth redistribution schemes, left unchecked, have always literally destroyed the standard of living of the people unfortunate enough to be exposed to such schemes. It will further beggar the coming generation who will be poorer and more indebted as a result. This is not rocket science, a government that has doubled the federal debt in eight short years cannot be trusted with more of your money Cite one example where this government was better at anything than the private sector has been in execution, efficiency, and economy. They simply are not, they are not paid to care, it is not their money, they are not held accountable for either the success or failure of a government program. They have no skin in the game. So, my message to millennials and gen z from the boomers and gen x, we will try hard to preserve the capital that has been passed to us and that we have further earned on your behalf. By default, it has always been our destiny to pass this along to you, just as it was passed to us. We need to work together to achieve this, and we need to collectively tell a wasteful, out of control tax and spend government “No More.” To paraphrase a passage from the Good Book, “this government has been weighed and measured and it is found wanting.” It is long past time this troubled administration is brought to an end, and we can begin the challenges of rebuilding our country into the one we are proud to call our collective home.
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I grew up as part of a big family on a big mixed farm on the Prairies of Canada. All my opinions are my own. I have an Ag degree from Saskatoon and an MBA from New Brunswick. I am happily married with four children. I love my work, my family and my community and will guard them all ferociously. I try to bring critical thought to all I do and all I say. Leadership through example is the best way forward. |