Kram Condemns Liberals' Home Equity Tax Grab

 For immediate release 

April 25, 2022 

Kram Condemns Liberals' Home Equity Tax Grab 

Michael Kram, MP for Regina-Wascana today condemned reports that the Trudeau government is continuing to research the implementation of a tax on home equity. 

Home equity, the increase over time in the market value of a family's principal residence, represents one of the largest sources of retirement savings and investments for average Canadians. It has never before been taxed in Canadian history. 

The Liberal government had previously funded a small study into the policy proposal but denied that they were considering it seriously. However, according to documents and memos obtained by the Canadian Taxpayers Federation (CTF), the federal Liberals recently pumped an additional $200,000 into Generation Squeeze, an academic organization advocating for a home equity tax. 

www.taxpayer.com/newsroom/cmhc-giving-200,000-more-to-home-equity-tax-advocates 

"There's a reason the phrase 'tax and spend' exists. The federal Liberals have tried to deceive the public into thinking that their extravagant deficit spending came without a cost. In fact, all of their spendthrift ways will have to be paid out of the pockets of average Canadians and it is clear that a home equity tax is one way they plan to go for that money," Kram said. 

The internal memos obtained by the CTF further show that officials at the Canadian Mortgage and Housing Corporation are actively encouraging Generation Squeeze's public relations efforts to 'sell' the concept to Canadians. One PR tactic used by Generation Squeeze has been to state that the tax would only apply to homes valued at over $1 million. 

"This is a classic 'thin edge of the wedge' tactic. When is the last time you saw a Liberal government reduce a tax? Just look at the carbon tax. Today, they will start with million-dollar homes but before long they will be taxing homeowners from coast to coast." 

The internal memos also revealed the snide attitude of Generation Squeeze advocates towards homeowners. In one passage, they refer to home equity as "wealth windfalls gained by many homeowners while they sleep and watch TV." 

"This goes to show how out of touch the Liberals and academics are with the realities of the lives Canadians. Many hard-working Canadian families depend on their home equity to fund their retirement. The cynical attitude of the Liberals is an insult to home-owners and seniors across the country.' 

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