Excessive taxation in France has led to a severely deteriorating economy, accentuated by excessive personal tax rates. President Hollande introduced a 75% marginal rate, and the high rollers in the investment community considered moving to London, where French is now heard in some pubs in the City. Canada's situation is that its provinces and the federal government, combined with city governments, have taxed Canadians beyond the point of diminishing marginal returns, similar to the French situation. Max Bernier has issued a number of policy statements to the Conservative members, including one to eliminate the capital gains tax. From a compliance perspective, the capital tax is highly beneficial to accountants and lawyers, but is a nightmare for taxpayers. Raising the inclusion rate will for sure mean that capital gains will be deferred as long as humanly possible, resulting in lower net revenues and higher tax evasion.