Good evening everyone,

Thank you for all the incredible support this petition has received. Tomorrow, June 25th, 2024, marks the date when the capital gains tax changes are set to take effect. Despite the lack of response or action towards understanding the greater effects on our economy, I remain hopeful that clearer minds will prevail.

This is our final push. Together, let's show our leaders that we care deeply about the prosperity of our nation. Below is the last letter I've detailed in the hope that our collective voice can inspire change.

Let's hold out hope that at least one of our MPs cares enough to make a difference.

 
Subject: Urgent Appeal to Reconsider Capital Gains Tax Increase

Dear Honorable Members of Parliament,

My name is Thomas Hulsmans, and I am writing to express my urgent concern regarding the proposed changes to the capital gains tax rate included in Budget 2024, set to take effect tomorrow, June 25th, 2024 (Chapter 8, pg. 336, Budget 2024).

This measure, aimed at tax fairness, fails to consider the long-term economic consequences. Increasing the inclusion rate from 50% to 66% on capital gains above $250,000 annually for individuals, and on all gains for corporations and trusts, will significantly reduce investment incentives. According to multiple economic analyses, such changes could lead to slower economic growth, reduced job creation, and overall diminished economic prosperity.

Key Points to Consider:

Impact on Wealth Accumulation:

The higher tax rate significantly reduces long-term wealth accumulation, which discourages investment in our economy.

Economic Growth and Job Creation:

Reduced investments directly correlate with slower economic growth and fewer job opportunities. A thriving economy requires robust investment incentives.

Purchasing Power:

As we face diminished purchasing power, it is crucial to encourage investments that can help stabilize and grow our economy. Increased capital gains taxes will further erode purchasing power and hinder economic recovery.
I implore you to consider the broader impact of this decision on Canadian purchasing power and to reflect heavily before allowing this change to proceed. It is not too late to reverse this decision and strike the tax increase. My opinion is based on strategic analysis of our economic growth and current purchasing power.

Listening to the public is a strength, not a weakness. At the very least, please provide more time to understand the consequences and impact. There are alternative ways to service our debt and meet financial goals without hampering economic growth.

I am willing to help develop alternative solutions that do not involve increasing the capital gains tax rate. It is crucial for the prosperity of our country that we adopt economic policies that foster growth and stability.

Thank you for your attention to this critical issue. I look forward to seeing a decision that prioritizes the long-term economic health of our nation.

Sincerely,

Thomas Hulsmans
Business Owner and Canadian Entrepreneur

 
Take Action:

Please send your own email to your MP. Here are the email addresses for your convenience:

justin.trudeau@parl.gc.ca
chrystia.freeland@parl.gc.ca
pierre.poilievre@parl.gc.ca
jagmeet.singh@parl.gc.ca
peter.julian@parl.gc.ca
ed.fast@parl.gc.ca
yuen.pau.woo@sen.parl.gc.ca
lucie.moncion@sen.parl.gc.ca
mobina.jaffer@sen.parl.gc.ca
peter.harder@sen.parl.gc.ca
raymonde.saint-germain@sen.parl.gc.ca
Together, we can make a difference. Let’s act now to protect the economic future of Canada.