Insane. I thought the US was bad, but this is worse. I wonder when Canadians will finally say "ENOUGH!" The current maximum long-term capital gains tax, meaning the asset has been held over 1-year, in USA is 20%...which is atrocious. The maximum short-term capital gains tax, asset held less than 1-year, is 37%...also insane. The thing that bugs me about capital gains tax is that the government already taxes your pay. Okay, one can make the argument the nation needs revenue for defense, roads, law enforcement, etc. However, Capital Gains is where the individual is taking all the risk, using money that has already been taxed to invest, and if they lose then government has no skin in the game but if they win, they want a large piece of the pie for doing nothing. It is totally wrong.
Same with playing the lottery-- you take the risk and if you win the goberment takes half your winnings----theft
