OTTAWA – Wealthy Canadians have begun a ‘Freegains convoy’ to Ottawa in their BMW X3s in protest of the government’s plan to raise the inclusion rate on annual capital gains in excess of $250,000.00 dollars. “Not since the city of Toronto tried to build affordable housing in Rosedale has our community been so united in […]
As someone who makes ok money I’d like people to understand that there really isn’t lower, middle and upper class. There’s people with “Fuck you” money and people without “Fuck you” money. $250k is not “Fuck you” money.
$250k in capital gains has very different implications from $250k in salary.
$250k in cap gains represents about a million dollars of gain. That’s not enough to retire for most Canadians and is definitely attainable by a lot of workers.
I’d love a million dollars in gains in a year…
Heck, I’d love to have even half a million dollars of total assets.
If you have a million dollars in gains for ONE year, like you sell an asset to retire, you get hit. I agree, multple years of $1m gains is excessive.
How is that?
Maybe if you can do 250k for 20-30 years you can retire nicely…
Still not fuck you money tho haha
Think about it
Well, there IS an upper class here in the UK. It’s the people who own the country for the last thousand of years. Everyone else is a peasant in their eyes, no matter how much money you have.
https://canadiandimension.com/articles/view/transcending-the-imperial-mode-of-living understand the world you live in