Capital gains tax debate rages in Parliament: “Promising to tax, borrow and spend us into fairness”

nine years ago the Prime Minister promised he could spend uncontrollably and there'd be a rich guy on a hill somewhere who would pay the bill the middle class wouldn't have to pay what is the result according to him the total net worth of the richest Canadians has doubled since he took office meanwhile N9 and 10 middle class Canadians are paying more tax housing costs have doubled so 76% of middleclass Youth believe they'll never afford a home 2 million people line up at a food bank because they can't afford to eat on a middle class salary given that he already broke this exact same promise over 9 years why should we believe him this time if it didn't have real world impacts on Canadians it would almost be amusing to watch the conservative leader tie himself in nuts to try and justify voting in favor of advantages for the wealthy Canadians when they sell really profitable Investments we are asking them to pay a little bit more so we can invest more in housing for young people to be able to have the same kinds of opportunities previous generations did we're delivering dental care for over 200,000 seniors in just the last 6 weeks we're delivering more spaces in child care we're stepping up for Canadians they're stepping up for the rich real world impacts that's what we have today after 9 years of this prime minister promising to tax borrow and spend us into fairness but according to the stat scan data he put out himself since he became prime minister of the net worth of the wealthiest Canadians has doubled why because the taxes he puts always land on the middle class nine and 10 middle class people are paying higher taxes the vast majority of Canadians than 100% of middle class are paying higher carbon tax and his last round of small business tax hikes hit plumbers and electricians not the rich why is it that every time he mentions the middle class they get poor our price on pollution delivers more money to eight out of 10 Canadians right across the country with the Canada carbon rebate uh and today Mr Speaker There's an opportunity for everyone in this house to stand up and ask the wealthiest Canadians to pay a little more when they sell extremely profitable Investments we are doing that on this side of the house the conservatives will be protecting the advantage that is there for the wealthiest Canadians while we invest more in housing while we invest more in Dental Care while we invest more in Canadian who need it if you are a small business owner you have even $1 of investment gain you pay this higher tax that the prime minister is promising because there's no exemption inside the 300,000 small businesses and it's incredible that during a housing shortage he wants to tax home builders during a healthcare shortage he wants to tax away our doct doctors during a food price uh crisis he wants to tax our farmers and while our economy is shrinking more than any other con economy in the G7 he wants to tax our small business job creators Mr Speaker isn't this the definition of insanity for8 weeks since we put our budget forward the conservatives have been incredibly careful not to say a thing about the capital gains uh rate that we're raising uh they didn't want to talk about it for two full months and today when they are choosing to vote with the wealthiest Canadians and against young Canadians who need more housing young Canadians who need a better break seniors who need Dental Care uh they're all trying to spin it in nine different ways the reality is they have an opportunity to vote with middleclass Canadians and they're choosing to vote against them the Finance Minister is about to impose another job killing wage cutting price hiking tax on Canadians and she wants us to believe the latest fairy tale that somehow we'll all be better off if the Prime Minister just raises taxes again we've heard this for 9 years let's take a look at the result Canada is on track for the worst decline in living standards in four decades 9 out of 10 middle- class families now pay more in income taxes and stats Canada says that liberal policies since 2015 have cost Canadians $4,200 in lost wages per worker they've made the middle class worse off with their last eight budgets why should anyone believe that the ninth time is the charm for the past eight weeks we have watched the an edifying spectacle of the conservatives squiggling and squirming deflecting and debating but today they have no choice today they had to pick a side and we're seeing now the side that they have chosen the conservatives are coming out against fairness they think a nurse or a plumber should pay tax at a higher rate than a multi-millionaire Canadians are watching Canadians now see whose side the conservatives are [Applause]

Channel: Global News

Views: 53,819

Keywords: global news, Canadian politics, Capital gains tax increase, What impact will capital gains tax increase have on me, Justin Trudeau, Chrystia Freeland, Pierre Poilievre, Conservatives, Liberals, Liberal government, Question period, Debate in the House of Commons Canada, Canada House of Commons, Canada capital tax increase details, Money, Finance, Interest rates, Inflation

Id: T4Iq34CFHwM

Length: 5min 1sec (301 seconds)

Published: Tue Jun 11 2024