Why the Poorest Millionaires Should Stop Worrying About a Wealth Tax

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    • #416910
      eridani
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      • Total Posts: 8,630

      https://www.commondreams.org/views/2021/04/13/why-poorest-millionaires-should-stop-worrying-about-wealth-tax

      The ultra-rich have been so relentless in making their case — or having hired guns make it for them — that they’ve managed to largely shed their tax burden in recent years even as they’ve grown spectacularly, exorbitantly, astronomically wealthy. (Canada’s wealthiest 87 families had wealth of $259 billion in 2016; our top 44 billionaires increased their wealth by more than $50 billion during the pandemic.)

      Most Canadians have had enough of this. A recent Abacus poll shows that a striking 79 per cent of Canadians favour a wealth tax.

      In fact, a wealth tax would be the simplest, fairest and most effective way to collect billions of extra dollars of revenue a year, and to limit the power and political influence of the billionaire class.

      A wealth tax only targets the wealthy. An NDP proposal — based roughly on proposals by U.S. senators Bernie Sanders and Elizabeth Warren — would levy an annual tax of 1 per cent on net wealth above $20 million. If you don’t have $20 million, it’s not coming for you.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #416917
      Hobbit709
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      • Total Posts: 2,358

      I don’t think it will break any of them. Hell, even 10% won’t break them.

      Maybe if they’re told that their other option is to be shortened, they’d have something to squawk about.

      I don't waste my time teaching pigs to sing.

    • #417037
      3fingerbrown
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      • Total Posts: 3,410

      I only wish we lived in a country where these bastards worried about something a lot sharper that a wealth tax.

      All governments lie to their citizen's, but only Americans believe theirs.

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