text: Greatest bait & switch in Canadian tax history. Say you are going to stop the super wealthy from turning income into capital gains though deferred income bonuses...options, deferred shares & convertible debenture (they allow capitalization of interest in some cases) etc. Then say holy crap...no way and go after hard working, job creating, risk takers who are learning the same loopholes using corporate class mutual funds to capitalize profits inside the company and pay it out as capital gains or half taxable. The super wealthy including Mr. Morneau, Brian Tobin at Aecon (they have to hold their options to align with shareholder's best interest...the holding period in the fine print is 3 months) Also, New Flyer Industires & anither multi billion $$ firm. The wealthy have been using loopholes for decades!! But they are in 'the club' which you cannot get into even to empty the trash.