The federal NDP leader pitched the plan Friday during a keynote speech to the annual Broadbent Institute’s Progress Summit, which brings together progressives and New Democrats from across the country. The NDP is specifically looking to tax 75 per cent of profits on investments, up from the current rate of 50 per cent, which it says will raise about $3 billion for the federal treasury. While the government currently taxes 50 per cent of profits made on investments, known as capital gains, the NDP wants to increase that threshold — known as the “inclusion rate” — to 75 per cent. “When you go to work, you’re taxed on almost all of your income,” Singh said. Article Continued BelowThe question of raising the inclusion rate on capital gains has been hotly debated for years, with some suggesting it would address inequality and others arguing it would hurt Canadians’ savings and make the country less attractive for investors.

Source: thestar March 29, 2019 19:52 UTC