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You might want to avoid going long on the TSX or the Canadian dollar heading into what promises to be a “tax grab budget” from the Liberals March 22, says economist David Rosenberg.

Gluskin-Sheff’s chief economist predicts Canada’s capital gains inclusion rate could go back up to 75 per cent in the upcoming Federal budget.

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“Capital gains taxes ostensibly are a key source of revenue generation for the Liberal Party — it’s a given,” said Rosenberg in his morning note Monday entitled “Like father, like son.”





The economist reminds investors that the government of Justin Trudeau’s father Pierre was the first to initiate capital gains taxes in 1972. The inclusion rate was raised to 75 per cent in 1990, but then later dropped to 67 per cent and then 50 per cent under former Prime Minister Stephen Harper.