Canada’s New Wealth Tax Is Out of Control… (Hurting Economy)

[@GriffinMilks]

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[@andyquanzhou]

The capital gains tax increase also makes no exemptions for doctors. Many doctors here in Canada operate as small businesses and would see their capital gains tax go up as a result of this new legislation. We're facing a huge doctors shortage here in Canada. Do you think taxing the crap out of doctors will make the doctors shortage better or worse?

[@ReAl-uu8ku]

The doctors operating as small business owners will leave Canada for the US! It will definitely help our shortage of doctors NOT

[@GriffinMilks]

A great point!

[@haltzy]

And I thought the budget would balance itself.. lol.. well that never happened so let’s tax everyone more. Great video as always bro, I can tell you’re based and it’s why I respect you. Especially living in QC! Cheers man!!

[@GriffinMilks]

Thanks for watching! What do you mean by "I can tell you're based"?

[@haltzy]

@@GriffinMilks it means being yourself and not caring what other think of you, even if that means receiving criticism. Obviously this isn’t easy to talk about, especially when you might trigger liberals.. but someone has to speak out against this nonsense. Keep it up man

[@GriffinMilks]

@@haltzy Ok! I thought you typo'd "biased" haha. Well thanks for watching and commenting, I appreciate it!

[@chuckandary7115]

The Canadian government is absolutely incompetent, I purchased my first rental property in 2020 and had no plans of selling anytime soon but this new 66% percent capital gain tax is crazy and definitely stunts growth in our country, also one thing I dislike about being a landlord is how the LTB is designed basically to protect the tenants and never the landlord who is taking all the risk buying the property Could you please do a video on rental information like how to evict and margins needed to make money, my tenants won’t pay rent and I filled an N4 but it takes months and they being difficult to even deal with, I’m so upset as i inherited these tenants when I purchased the property and she was being subsidized by a government social program for her rent but after she had her boyfriend move in the cut subsidy so not only do I have an unwanted tenant (her boyfriend) he is telling my tenant they don’t have to pay and it’s funny how they know the law better then others…. Please if you could give some tips that would be greatly appreciated

[@imaginethat765]

The first 67% of your cap gains over 250K is taxed. Any gains below 250K is taxed minimally.

[@epictetus3406]

​@@imaginethat765not inside a corporation

[@imaginethat765]

@@epictetus3406 ah, okay.

[@GriffinMilks]

50% of it is still taxed.

[@bboyorc]

Income tax Properry tax Sales tax Vehicle tax Carbon tax What else ya got? Tax people are enemy

[@Konstantin19877]

Oxygen tax

[@imaginethat765]

lol…like this impacts people who have capital gains over what? 260K? Isn’t the first 260 gained essentially minimally taxed?

[@epictetus3406]

Don't you plan on leaving anything for your children?

[@AntoineLaurent-yt7wq]

We are not in a capitalism system anymore ! In fact we are socialism 😮

[@ReAl-uu8ku]

Next year, primary residence tax!

[@GriffinMilks]

That would devastating

[@bellybrown6557]

So I guess they don't expect me to ever have over 250.000 in my lifetime

[@epictetus3406]

What about when you die? This is an estate tax also. What people don't understand is that taxation doesn't improve the lives of people. Just look at socialist countries.

[@dominicschmitz8636]

Boomers and companies need to be stopped treating housing like the stock market. People need to live somewhere without spending 50% of their income on a shoe box. Make the capital gains inclusion rate 100%, the party is over.

[@XInfinity2024]

Honestly the more they hit corporations and such harder with harder property taxes the more happy it makes me because I have been seeing prices go lower and more units going onto the market. When tax laws benefit rental property investors the more it hurts regular people to buy a house. People can say just build more units but wiping out a lot of forest isn't going to help the environment and can cause land erosion and flooding problems more. Building more units also doesn't fix the problem of how many people want to live in the center of a city. If people want more housing then there needs a law to be passed that makes it mandatory for stores to be build into an apartment complex or condos. Think about how many condos or apartments can be build on top of a Walmart.

[@epictetus3406]

It's comments like these that drive policies like what the current government is employing. I really hope it comes to pass so you can experience the devastation that comes with these kinds of comments. You have no idea what you are talking about. The government cannot make you wealthy, the same policies that "tax the rich" will also prevent you from ever building wealth.

[@epictetus3406]

Lol you are asking for even more government intervention? Maybe open a book and learn how the economy works.

[@funkspinna]

Capitalism creates. Socialism takes.

[@MissAnkh_ah]

Capitalism also takes, it rips the environment and steps on poor people.

[@funkspinna]

@@MissAnkh_ah Very emotional statement.

[@abaldwin6059]

Free markets run the economy. Government needs to stay out of free markets to the greatest degree possible. Canada has become a socialist country, unfortunately.

[@bboyorc]

I wish it was socialist. This country is still tailored for upper class. Milenials literally inherit ...

[@abaldwin6059]

@@bboyorc socialism discourages hard work and encourages government handouts.

[@AlexMichaud1]

My friend, you're not contributing to Canada's economic growth and productivity. You're a youtuber and real estate speculator, contributing to Canada's housing crisis. A little bit of self-reflection would be good.

[@GriffinMilks]

I’ve paid hundreds of thousands of dollars in taxes, added over 20 brand new apartments that families now live in in my community while increasing municipal taxes significantly on the buildings in my town, and indirectly employ 20-30 people at all times through my businesses, all at 27 years old. Tell me more about how I’m not contributing to the economic growth of this country?

[@Jadiexox]

He’s an entrepreneur, where he decides to invest his money is up to him! We shouldn’t point fingers at investors, it’s the laws set in place that should be reconsidered :)

[@epictetus3406]

You should open a book friend, you have no idea how the economy works. Maybe turn off the government propaganda, it's really not helpful. I know you think the government is your daddy and your friend, but they really aren't.

[@MissAnkh_ah]

You lined the pockets of politicians and enslaved several families and “employees” to work for your wealth. You’ve done nothing to help anyone.