I have posted this point before; apologies to those that may have read it.

Family law recognizes a spouse's inherent equal ownership in the family business.  These new tax laws don't.  A spouses LCGE is gone with the More Dough Morneau plan.   That is neither fair, or equitable and illustrates how poorly conceived these changes are. Correction:  They are well conceived if you are grabbing cash and hustling for votes.  They are not well conceived if one is trying to build a nation in which a diverse, entrepreneurial segment of the economy is considered desireable.

If JT & MD Morneau were at all reasonable they would have given notice of these changes coming in two or three years time.  To announce the change  and restrict on the same day reflects their "I caught you rotten tax cheats!"  perspective.  I am not a rotten tax cheat.

The authors idea of a cap is reasonable in my mind, but my preference is to not have the federal gov't tell me how to look after me or my family.