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Letter: Facing a critical federal election

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The next election will determine what type of country you wish to live in.

Prime Minister Justin Trudeau has determined that financialization of housing (treating housing as a commodity) has greatly increased beginning in the 1980s and the problem was exacerbated during the COVID outbreak. 

The Conservatives have not even identified the problem but if they have, they refuse to properly address the issue – just as they have with climate change.

Financialization of housing affects not only rental properties, but also single-family homes, retirement and long-term care homes. 

Real state is a safe investment opportunity, but it drives up prices and puts affordability in jeopardy for those most at risk. 

It has significant detrimental impacts for tenants, seniors, workers and communities.

While the rich get richer because of their ability to invest in real estate and corporations and further invest in automation and AI to reduce the workforce and increase personal profits, the price paid is transferred to the less-fortunate of our citizens. 

While the elite get richer, some of their descendants never have to work a day in their lives because of their wealth inheritance. 

This is perpetuated for the elite. This is unfair.

Justin Trudeau is addressing this problem. 

Effective June 25, 2024, capital gains for corporations will increase to 67 per cent from 50 per cent for corporations and from 50 per cent to 67 per cent  for individual capital gains over $250,000. 

This is a start and, of course, will be widely denounced by the elite.

The Liberal government is not perfect, but all one must do is examine the benefits being provided to those in need by the federal Liberals vs. policies of past Conservative governments and decide which party has the people at heart.

Of course, as stated, there will be a huge disagreement with my comments by those who wish to protect themselves from subsidizing the less-fortunate, but ask yourself the following: “What if it were me who needed assistance?”  and “Has my personal income tax increased under the federal Liberals?”

Only the wealthy has seen an increase.   

I doubt that you would vote for the Conservative Party when you ask yourself these questions.

Patrick MacDonald