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Cake day: September 3rd, 2024

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  • Partly media coverage and partly that these things come in waves around election time. Coverage from the 2019 election goes into some of their policies:

    https://www.investmentexecutive.com/news/industry-news/ndps-proposed-wealth-tax-would-generate-60-billion-over-five-years-pbo/

    https://www.cbc.ca/news/politics/ndp-singh-health-policy-federal-election-1.5175899

    I can’t find sources verifying the claim but I remember that contemporary to the election the PBO assessed the NDP budget as being the closest to balanced between the major parties (based in part on that wealth tax).

    The capital gains exclusion amount right now is 50% (which means that $1000 in capital gains is taxed like $500 in income) and the NDP platform would have taken that to 25% meaning it would be treated like $750 in income. You might be asking why working for your money means it’s taxed higher than investing for your money but that’s a bigger conversation.

    As for UBI, it hasn’t been a part of their official platform in previous elections that I recall, but NDP members have expressed support and laid out plans for it and it’s far more likely to be tried and executed under NDP governments than Conservative and Liberal, though Liberals have run trials at the provincial level (though sabotaged by the cons as soon as they took power of course).

    Next year will present an opportunity for a new platform but I expect many of these things to remain on it. I encourage you to look into all of the party platforms at that time. I occasionally check in on them off season as well, for example to find out what Conservatives are proposing for after they “axe the tax” (spoiler: nothing), but haven’t looked at the NDP recently.