Thank you so much for the question.
Essentially, there are a lot of assets that have been locked away in capital. The owners do not want to sell because of the capital gains hit they would take by selling it. Hence, the only time valuable assets that can contribute to the economy are sold is when the owner passes away. How much better it would be to provide an incentive for that churn of assets so that those apartment buildings that have been owned by the same man or woman for 50 years could be sold while the owner is still alive. That money then would churn the economy in a very big way. It would provide way more resources for the multiplier effect to help us get out of this crisis.
Back in the 1980s, if you recall, both the American and Canadian governments did this for a very short period of time. They provided a significant capital gains holiday, and our economies, in conjunction, had 5% GDP growth. It was astronomical.
It would only be a temporary measure, something for a short period of time in order to spur growth, spur activity, spur assets moving. I think it would be probably the best economic stimulus we could possibly do in a short order of time.