Its brutal, but that is the capital gains inclusion rate, not the tax rate.

So you multiply the gain, by that number, then multiply it by the tax rate. Also, they added complexity by doing this for only gains higher than $250k. And, they implemented the rule, for a fraction of a tax year.

Classic fucking government stupidity, not giving a fuck about the tax base or the impact on their own planning.

Dont get me wrong, is stupid af. But not 66% stupid.