Capital error

Re: Capital gains tax hike ‘shooting us in the foot’ — Naimul Karim, April 18

Capital gains have nothing to do with greed, and everything to do with expecting a reasonable return for an investor putting their hardearned income at risk to fuel economic and social progress. But our illiberal Liberal government supported by the Marxists of the NDP drag out their disproven Marxist theory of capitalist oppression of the proletariat to justify a regressive tax that will ultimately further damage the Canadian economy, thereby leaving more Canadians poorer as a result. Gordon S. Clarry, Rogers, Ark.

Having spent 30 years as a financial adviser I am at a loss to understand how raising the inclusion level on capital gains is going to help young people buy a home.

One thing Justin Trudeau and his cohorts fail to understand is there is no such thing as a capital gain without risk. The gain must be split with the tax man but the risk is borne by the investor alone. Although losses can be applied to future gains that doesn’t help if there are no gains to be had. It is this element of risk that justifies a lower rate on capital gains.

Yes, investors tend to have capital but it is retirees and pensioners of all income levels that depend on capital gains. Retired people on fixed income can ill afford yet more taxation. This country needs leaders who understand money and investing. Unfortunately we have none.

Brian Forrest, Toronto

If, as Prime Minister Justin Trudeau claims, he is imposing a usurious capital gains tax as a step toward “intergenerational fairness,” then perhaps he could explain how it is fair to the next generation to dump trillions of dollars of debt on them, thanks to his continuing profligate spending.

Claire Hoy, Toronto

Substitute “job makers” for “the rich” and even the most economics-illiterate person should understand that the increase in capital gains tax (a double tax on already taxed funds that were invested) will decrease the well-being of young voters along with the rest of us. It will chase away investors to more friendly tax jurisdictions like our giant neighbour or encourage them to “lock down” their investments, making them unavailable for funding new enterprises in Canada like startups that create jobs.

Children of investors will now share the inheritance their parents meant to leave them with Trudeau the spendthrift who has nothing to show for doubling the debt except both a bloated overpaid civil service and consultants, neither providing value for money.

Laine Andrews, Toronto