The Billionaire Loophole: Canada's Tax System and Inequality
While ordinary Canadians struggle, the top one per cent hide billions in offshore tax havens, a system that protects wealth and starves public services.
A group of wealthy Canadians, known as "Patriotic Millionaires Canada", has signed an open letter to Finance Minister François-Philippe Champagne, asking him to implement policies to reduce income inequality in the next budget "by effectively taxing the rich."
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 wrote this on behalf of the group in the Hill Times.
Author's summary: Canada's tax system fuels inequality.
- Wealthy Canadians hide billions in offshore tax havens.
- A group of "Patriotic Millionaires Canada" is asking for policies to reduce income inequality.
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