The ultra-rich don’t pay their fair share, but take the biggest share of the pie. The Parliamentary Budget Officer (PBO) estimates that the richest families hold 25% of Canada’s wealth, which is as much as the share held by 80% of Canadian families.
A new analysis by the PBO illustrates that the federal government can raise new resources to stimulate the post-covid economy and provide more support to Canadians by implementing a wealth tax on Canada’s top 1 percent, as proposed by the NDP.
The government must stop protecting the wealthiest and those who use overseas tax havens to avoid paying their fair share. We have an opportunity to finally put in place a Fair Tax system by curbing tax havens, which will reduce inequality and better distribute wealth among Canadians.
I have introduced in the House of Commons Motion M-43 to immediately implement a 1% wealth tax on fortunes over $20 million.
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