Prime Minister Justin Trudeau certainly has Bay Street in a tizzy. David Rosenberg, a famous economist who works for high-end wealth manager Gluskin Sheff + Associates, this week advised readers of his $1,000-a-year newsletter to sell Canadian stocks and convert their loonies to other currencies before the March 22 budget ruins them. “This promises to be a tax-grab budget that would have made the likes of Herb Gray very proud if he was still alive,” Rosenberg wrote on March 13, according to a subscribers-only report in the Globe and Mail.
Rosenberg, known for prescient forecasts based on hard data, has been spreading rumours for at least a month that Trudeau intends to raise taxes on capital gains. There has been no confirmation of this, but the very thought of it is making capitalists upset.
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