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Taxes on the wealthiest families and corporations should be a key driver in a #COVID19 recovery. #Austerity measures will only be self-defeating.
We need a bold agenda to redistribute wealth and reduce inequality across society. 1/6
We need a bold agenda to redistribute wealth and reduce inequality across society. 1/6
Deficit hawks are circling around the spending behind Canada's #COVID19 relief warning that too much debt could crush longterm recovery. While many point to the wide availability of credit to Canada borrow from what still is not centered are measures that would raise revenue. 2/6
Wealth redistribution needs to be coupled with a green #energytransition, expanded universal social programs, and free/affordable housing. This would accelerate the recovery past the old normal, towards a more sustainable future. 3/6 https://canadiandimension.com/articles/view/wealth-tax-and-beyond
Taxes on the wealthiest families and corporations should be a key driver in a COVID-19 recovery. Corporate "dead money" keeps growing, unused. The top 20% of wealthiest families in Canada own 80% of the wealth, according to the @PBO_DPB in a June 2020 report. 4/6
Through modest measures to redistribute wealth such as a 1% wealth tax on the top 5% & increase of the corporate income tax rate to 19% the PBO forecasted an additional $16.3 billion could be added to fed revenues if implemented today. 5/6 @CdnTaxFairness https://canadiandimension.com/articles/view/canadas-tax-system-should-oppose-inequality-not-subsidize-the-rich
Stronger measures such as a 2% tax on wealth above $20 million like those proposed for the 2020 US Dem Primary & an increased federal corporate income tax rate to 20%, in line with most OECD countries, would do much more against inequality in Canada. 6/6 https://canadiandimension.com/videos/view/fariya-mohiuddin-why-we-need-a-wealth-tax
