Hypocrites

The Liberal party campaigned on raising taxes on the very wealthy, cracking down on tax cheats and supporting the middle class. 

Here's one of their key policy pieces they've had since 2011, taken straight from the Red Book:

"We will limit the lucrative tax break on stock options.
In some companies, employees are offered the option of acquiring stocks at a set price, below market value if the stock has risen. The difference is treated as employment compensation, but the employee can claim a tax deduction for 50 percent of it.

Currently, 8,000 Canadians who earn more than $500,000 a year deduct an average of $400,000 from their taxable income based on stock options.

Many other taxpayers are claiming much more modest amounts. But those 8,000 high earners are receiving three-quarters of the total claimed under the stock option deduction. At a time of high deficits and growing inequality between the richest Canadians and middleclass families, this is a disproportionate benefit for the very wealthy.
A Liberal government will cap the amount that can be claimed through the stock option deduction at $50,000 annually. Stock options are a legitimate method of compensation, and particularly useful for start-up companies. 
Employees with up to $100,000 in annual stock option gains will be unaffected by this change. Very wealthy taxpayers will also continue receiving the  deduction, and pay the regular income tax rate above this cap.
The change will achieve a fair balance, and return approximately $600 million to the public purse over two years.

Canada’s top 100 CEOs averaged $6.6 million in pay in 2009, or 155 times more than the average worker. Nearly one-third of that was in stock option benefits. 
And they’re sitting on another $1.3 billion in stock options they haven’t cashed in yet. "


Not long after he was elected, Minister Morneau caved in to lobbying from his pals' on Bay St, and quietly put that election promise aside.

Fast forward to 2017, and these stock options are now costing Canada $840M per year.

So, on one hand, the richest 8,000 people in the country (the 0.02%) get to keep their $840M tax break.

On the other, 1.1 Million small businesses are going to lose their very modest incentives and effectively get hosed.

Justin, are you really working for the middle-class ?

The good news here, if any, is that the Liberals have shown they can back down when pressured.

Following through with the campaign promise would have made for some awkward cocktail parties at the Morneau residence.

Let's make it clear that the consequences of their latest tax proposal will be much more unpleasant.