I think this inclusion rate change is absolutely a vital first step. We've heard from Mr. Stefanec, and we've heard from the gentleman from the Wheat Growers Association. They have legitimate concerns.
However, capital gains exclusion is an extremely blunt policy tool if we want to ensure the preservation of family farms and if we want to ensure that small business owners have pensions. If we want to achieve those things, we need to implement policies aimed at achieving those things and not maintain the capital gains exclusion that sees the vast majority of the benefits go to people like the billionaire Ms. Bruske mentioned in her opening comments.
That billionaire made that $4.5 million tax-free buying shares on the secondary market and selling shares on the secondary market. There was zero productive investment that happened with that. The company whose shares he bought and sold repurchased $4.5 billion of their own shares over the next three years and made about $50 million in net capital investment.
Our financial system is not doing the things it's supposed to be doing. There are lots of changes that need to be made, and this modest change is an important step in the right direction.
Of course, there's a lot more hard work ahead of us, and I believe all of you around this table are prepared to do that hard work to achieve it. We hope that you will talk to the CLC about how we might make this entire financial system much fairer than it is.