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Taxation is on the defensive.
The most recent push is aimed at cutting Canada's capital gains tax. Progressive Conservative leader Joe Clark promised eliminating the tax as one of his party's planks for the next federal election. Grubel is a former Reform member of Parliament and currently holds a chair in taxation and finance at The Fraser Institute in Vancouver. There are no solid estimates of how much money the government receives from taxing capital gains. Grubel argues that the capital-gains revenues are very small relative to overall tax revenues.