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.
A group of wealthy Canadians, "Patriotic Millionaires Canada", has written an open letter to Finance Minister François-Philippe Champagne, urging him to reduce income inequality by effectively taxing the rich in the next 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,"
wrote Ratna Omidvar and Sabina Vohra-Miller on behalf of the group.
The authors argue that the current level of wealth inequality is a threat to the economy and democracy.
- Wealthy Canadians hide billions in offshore tax havens.
- A group of "Patriotic Millionaires Canada" is urging the government to tax the rich.
Author's summary: Canada's tax system fuels inequality.
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