This tax is going to affect a lot more people than the Liberals think and it will affect their electoral chances as well for a long time. The vacation home market in places like Ontario has taken a large hit, these people live in vote rich Ontario.
The amount of medical professionals who appear to be incensed at this change and looking at options elsewhere is something to watch. When colleagues leave to go south to the US and leave the additional workload and stress on the remaining individuals it exasperates the situation.
There are loads of regular, hard working people and their families who are going to be hit and they are going to be pissed. I don't think the Liberals appreciate how hard this is going to play out in immigrant communities across Canada. Leaving something of value, a generational wealth, a piece of property or a business to your children and grandchildren is engraved in immigrants bones. It cuts deep and the stories are all the same. Immigrant came to Canada with $2, worked their tail off cleaning floors, dishes or other hard manual labour. Sacrificed beyond belief to buy a duplex/4plex/6 plex or a piece of property/strip mall where the family business is located and more. Part of the retirement plan, part of the inheritance, part of keeping the family together and more.
They will then compare to what they would potentially back in the motherland and see it may be 5, 15, 25% etc and it has pissed them off. How much should the government actually make off your retirement and financial planning? Is there a direct correlation between the "rich" paying a lot more in taxes and your average Canadian's rent or mortgage payments becoming a lot more affortable?
Should be interesting how this plays out
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