Quote:
Originally Posted by Winsor_Pilates
Any opposition I saw was on how this will impact average income earners when they sell off an investment property they've held for decades as part of their retirement planning.
People's who's annual incomes are no where near $250,000 and are largely effected by the growing income disparity you've mentioned.
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Anyone who has held property for decades was totally fine holding an investment property under a 75% inclusion rate (with no exemption on the first $250K) which was the case until it was lowered in 2000, so why is a 50% inclusion rate somehow treated as sacrosanct?
And beyond that, I'm just not sure the average person is super worried about couples with a $1M gain paying ~$290K in tax now rather than ~$245K in tax under the old inclusion rate. Because you have to earn a very significant gain to even be affected by it, and have to be earning into the millions to increase the tax burden by more than a few percentage points, it's just not a huge difference in reality.