The billionaire loophole: How Canada’s tax system fuels inequality
While many Canadians struggle, the wealthiest one per cent conceal billions offshore, perpetuating a colonial system designed to shield wealth and undermine public services.
Patriotic Millionaires Canada's Call for Tax Reform
A group of affluent Canadians, called “Patriotic Millionaires Canada,” recently sent an open letter to Finance Minister François-Philippe Champagne. They urged the government to implement policies aimed at reducing income inequality by taxing the rich more effectively in the upcoming budget.
“One of us is a former member of the Canadian Parliament, and the other is a current member of the one per cent, so we’re well-positioned to tell you that our current level of wealth inequality is threatening the stability of our economy and democracy, and is partially the result of a failure to tax extreme wealth,” Ratna Omidvar and Sabina Vohra-Miller stated in the Hill Times on behalf of the group.
Summary
The document highlights how Canada's tax policies favor the wealthy, increasing inequality and risking economic and democratic stability.