Justin Trudeau’s government raises taxes on wealthiest Canadians in federal budget

OTTAWA, Ontario (AP) — Canadian Prime Minister Justin Trudeau is imposing higher taxes on the wealthiest Canadians as part of the federal government. The budget proposes to increase the capital gains inclusion rate, which refers to the taxable share of profit made on the sale of assets. The taxable portion of capital gains above $250,000 Canadian would rise from half to two-thirds, which the federal government says will only affect 0.1% of Canadians. Trudeau’s Liberal government is trailing badly in the polls amid concerns over the cost of living in Canada.