No, you would not pay $333k in taxes. You would add $333k to your taxable income for the year, and then pay regular tax rates on your total income.
If you made $500k in capital gains and had no other income that year, then by extremely rough estimation (I’m too lazy to pull out a calculator to get the exact figure) you would only be paying somewhere in the ballpark of $60k in federal taxes, then another $20k-$30k based on what province you live in. All things considered, that’s like a 17% effective rate, which is too damn low if you ask me.
And that’s only on amounts greater than $250k. So anyone this change actually affects is going to be fine. The people complaining about it are straight up lying.
Alright, but if I end up getting stuffed in a goo-filled pod so the AI can suck my energy out through a massive plug in the back of my head, I’m gonna be pretty upset.