Commentary The Liberal government’s budget finally comes down on April 19, the first in two years. On April 5, The Financial Post evaluated the case for and against a capital gains tax on the sale of a principal residence, and on April 9 Terence Corcoran commented that other tax increases seem certain. The case may be stated that the value of housing is the constant and that price increases are a function of money losing value. At low-end inflation of just the 2 percent sought by the Bank of Canada, the value of money halves every 36 years. Even as they take time to germinate, the Bank of Canada sows the seeds of inflation by crediting billions to government checking accounts and pretending to buy valuable bonds in exchange. That’s how printing money works today. In the long run, the late Milton Friedman’s famous saying has always come through: “Inflation …
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