The Rich Want You to Fear Tax Fairness – Jacobin

“Canada raised its capital gains tax inclusion rate, sparking outrage from the investing class, who warned of economic disaster. The data shows that their histrionics were groundless.”

“…So what is the real effect of this incredibly favorable treatment? It widens inequality. Investment income already flows disproportionately to the top end of society, and this incredibly sweet tax arrangement reinforces that concentration. The greatest irony is that, due to Canada’s marginal tax rate system, those at the very top — the richest 1.5 percent, who claim 61 percent of all capital gains — get a bigger kickback from this preferential tax regime than people at the bottom.”

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