A number of prominent business lobby groups banded together to write a joint letter to the government slamming the changes to the capital gains inclusion rate, claiming it to be short-sighted, that it sows division, and that it will impact one in five Canadians over the next decade—with more apocalyptic language about how this will hamper economic growth. Because, remember, their ability to engage in tax arbitrage is claimed to be a public good, or something.
There was just one problem—their math was grossly wrong, and they needed to backtrack on their claims, and that really, it’s about 0.13 percent of Canadians who would pay higher taxes on their capital gains. Oopsie. Kind of takes the sting out of their apocalyptic doomsaying, and exposes them for trying to mislead people into thinking that they will be exposed.
Meanwhile, the NDP have been banging on about why the government didn’t introduce any kind of windfall tax or other wealth taxes in the budget, pointing to plans by Joe Biden to increase corporate taxes, apparently not understanding how the American political system works and how that’s unlikely to happen because of how their legislative process works. The bitter irony, of course, is that for a party that keeps aping the American Democrats in their talking points, they also have no understanding of American politics either.
Ukraine Dispatch:
Ukraine’s air force says they downed all ten of the drones Russia fired overnight, but didn’t say what happened to the two missiles launched. A Ukrainian drone damaged a Russian oil refinery a record 1500 km away from border. President Volodymyr Zelenskyy dismissed the head of the state guards after two of its members were found to be plotting his assassination. Zelenskyy also says that with more Western weapons arriving, they’ll be able to halt the Russian advance in the east. In those eastern towns, Ukrainian rescuers are evacuating the elderly and infirm as the Russians close in;
Two people were killed and eight wounded in the shelling of #Nikopol on 9 May. Among the injured are girls aged 15 and 16. They are in moderate condition.
Source: Oblast Military Administration pic.twitter.com/qVLQL9pn8V
— UkraineWorld (@ukraine_world) May 9, 2024
⚡️Russian attack on Kharkiv injures 1.
A Russian attack on the city of Kharkiv damaged homes in a residential area and caused a fire to break out, Kharkiv Mayor Ihor Terekhov reported on Telegram.
As a result of the attack, one person was injured.https://t.co/L5cMe1lOYw
— The Kyiv Independent (@KyivIndependent) May 10, 2024