The Billionaire Loophole: Tax System Fuels Inequality
Canada's tax system allows the top 1% to hide billions in offshore tax havens, exacerbating inequality.
A group of wealthy Canadians, "Patriotic Millionaires Canada", has written an open letter to Finance Minister François-Philippe Champagne, urging him to implement policies to reduce income inequality.
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 call to action is led by Ratna Omidvar and Sabina Vohra-Miller, who emphasize the need to effectively tax the rich.
- Wealthy Canadians are hiding billions in offshore tax havens.
- Income inequality is a threat to Canada's economy and democracy.
Author's summary: Canada's tax system fuels inequality, allowing the rich to hide billions offshore.