The Billionaire Loophole: Tax System and Inequality in Canada
Canada's tax system is criticized for fueling inequality, as the top one percent hide billions in offshore tax havens, protecting wealth and starving public services.
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.
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.
Authors Ratna Omidvar and Sabina Vohra-Miller emphasize the need for change, citing their unique perspectives as a former Canadian Parliament member and a current member of the one percent.
Author's summary: Canada's tax system fuels inequality.
- Wealthy Canadians hide billions in offshore tax havens.
- "Patriotic Millionaires Canada" urges the government to tax the rich.