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, 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 reduce income inequality through effective taxation of the rich in the next budget.
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, with one being a former Canadian Parliament member and the other a current member of the 1%.
Author's summary: Canada's tax system fuels inequality, hiding billions in offshore havens.