The Canada Revenue Agency will continue to administer the Liberals’ increased capital gains tax rate, despite the fact that it hasn’t passed in Parliament, which was prorogued by Prime Minister Justin Trudeau last week until March 24, 2025. The capital gains tax was part of the Liberals’ 2024 federal budget and requires Canadians making more than $250,000 in capital gains annually to pay taxes on two-thirds of that profit instead of half. “Although these proposed changes are subject to parliamentary approval, consistent with standard practice, the Canada Revenue Agency (CRA) is administering the changes to the capital gains inclusion rate effective June 25, 2024, based on the proposals included in the Notice of Ways and Means Motion tabled September 23, 2024,” Finance Department spokesperson Benoit Mayrand told True North. https://tnc.news/2025/01/13/cra-going-ahead-with-capital-gains-tax-hike/

Canadians should brace for multiple tax increases as they prepare for 2025. The Canadian Taxpayers Federation released its annual report outlining major federal tax increases coming in the new year. While many tax increases are upcoming, the federation highlighted increases to payroll taxes, the carbon tax, alcohol taxes, and the temporary sales tax holiday. The Liberals are raising the mandatory contributions to the Canada Pension Plan and Employment Insurance in 2025. The combined increase will cost Canadians up to $403 next year. https://tnc.news/2025/01/02/canadians-to-face-multiple-federal-tax-hikes-in-2025/

Central bankers and politicos claim to be fighting this inflationary monster, but the ugly truth is that inflation is by design. The political class is destroying your money as a matter of policy. This is nothing new. Government people have been ruining our money for their gain since the Republic’s earliest days. Sadly, most people don’t realize what’s happening. They believe price inflation is due to greedy corporations, Putin’s price hikes, or voodoo. https://www.activistpost.com/2024/09/the-dangers-of-money-printing-thomas-jefferson-and-the-financial-panic-of-1819.html

Commenting on the decision, BOC Governor Tiff Macklem reiterated that “it’s reasonable to expect further cuts” and that policymakers continue to assess the tension between economic weakness, which is putting downward pressure on inflation, and high costs for shelter and some services, which are keeping it elevated. Still, realizing that it's only a matter of time before the BOC pulls off its own Burds Fed, Macklem says inflation may bump up later in the year as base-year effects unwind, and there is a risk that the upward forces on inflation could be stronger than expected, at which point the central bank would of course be forced to abandon its easing campaign, hike rates and also lose all credibility. https://www.zerohedge.com/markets/bank-canada-cuts-rates-third-consecutive-month-says-expect-further-cuts

Then again, cutting rates is easy: the problem is what happens when you have cut rates a few times and suddenly inflation is roaring back with a vengeance, and the central bank is facing a catastrophic credibility collapse similar to that experienced by the Arthur Burns Fed, when the US central bank hiked rates in the early 1970s as inflation soared, before cutting as inflation seemed to normalize, only to see a second, far more brutal surge in inflation over the next few years leading to the calamity that was the Volcker Fed's 20% interest rates. https://www.zerohedge.com/markets/hungary-first-central-bank-pause-rate-cuts-inflation-suddenly-jumps

The tax will be raised from 50 percent to 66.7 percent effective June 25, 2024. Conservative leader Pierre Poilievre sparred with Prime Minister Justin Trudeau over the Liberal government’s proposed massive capital gains tax increase during Question Period Tuesday. The House of Commons approved the tax hike Tuesday evening with the New Democratic Party and the Bloc Quebecois supporting the Trudeau government. https://thepostmillennial.com/trudeaus-massive-capital-gains-tax-increase-passes-parliamentary-vote-poilievre-calls-it-the-definition-of-insanity

Prime Minister Justin Trudeau over the Liberal government’s proposed massive capital gains tax increase during Question Period Tuesday. The House of Commons approved the tax hike Tuesday evening with the New Democratic Party and the Bloc Quebecois supporting the Trudeau government. The tax will be raised from 50 percent to 66.7 percent effective June 25, 2024. https://thepostmillennial.com/trudeaus-massive-capital-gains-tax-increase-passes-parliamentary-vote-poilievre-calls-it-the-definition-of-insanity

LILLEY: Freeland warns of dark future in Canada without capital gains tax hike 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://torontosun.com/opinion/columnists/freeland-warns-of-dark-future-without-capital-gains-tax-hike

Trudeau Hikes Debt Ceiling to $2.1 Trillion, Doubling Burden 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://streetpolitics.com/trudeau-hikes-debt-ceiling-to-2-1-trillion-doubling-burden/ via @StreetPolitics

Justin Trudeau complains about populism, brags about tax hikes on podcast 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://tnc.news/2024/04/25/jt-complains-about-populism-brags-hikes/ via @truenorthcentre