Madam Speaker, I have three comments in response.
First, the parliamentary secretary said that a capital gain is a profit. It is not really a profit; it is inflation. Profit is when someone works hard and earns an income based on what they are selling. This is just inflation. If a person had to buy another asset, it would cost that much more, so it is not profit at all.
Second, he said that compared to other countries, Canada is doing pretty good. Our real estate inflation is way worse than it is in the United States.
Third, our GDP per capita, which is the most reliable measure of national wealth, lags substantially behind that of the United States. One of the reasons is that we are sending investment dollars to the U.S. instead of keeping them here in Canada. Increasing the capital gains tax does not help that.