Thank you, Mr. Chair.
Thank you to all the witnesses for their excellent testimony.
Dr. Mintz, if I understand your estimation, you forecast that increasing the capital gains inclusion rate to 66% and change for corporations and individuals with gains of over $250,000 per year will cause Canada's capital stock to fall by $127 billion, employment to decline by 414,000 jobs, GDP to fall by almost $90 billion and real per capita GDP to decline by 3%.
We all know that the capital gains rate was established in, I believe, 1972. That was at 50%. In 1988, the Mulroney Conservatives increased the capital gains inclusion rate from 50% to 66% and change, exactly the rate proposed now. What impact did that move have on Canada's capital stock, employment rate, GDP and real per capita GDP?