The Billionaire Loophole: Canada's Tax System and Inequality
Canada's tax system is criticized for fueling inequality, as the top 1% hide billions in offshore tax havens, while ordinary Canadians struggle.
A group of wealthy Canadians, known as "Patriotic Millionaires Canada", has written an open letter to Finance Minister François-Philippe Champagne, urging 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.
This statement was written by Ratna Omidvar and Sabina Vohra-Miller on behalf of the group in the Hill Times.
Author's summary: Canada's tax system fuels inequality.
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