Canada Needs a Wealth Tax

Canadians face a particularly cold winter this year.

At the outset of the COVID-19 pandemic, Canadians rallied under one banner and declared that “we are all in this together”. Yet, in the days, weeks, and months that have slowly passed us by, the virus has only deepened the divide between the rich and the poor in our country. The super-wealthy have seen their fortunes rise off the back of an unprecedented public health crisis. Meanwhile, many of the poorest Canadians will spend their holidays worrying about their mounting debt and wondering how they will survive financially in the new year as relief programs begin to dry up.

We must call upon Prime Minister Justin Trudeau and the Liberal Party of Canada to stand up for Canadians and institute a wealth tax.

A wealth tax that targets the super-wealthy and pandemic profiteers could be used to fund relief programs and to shore up the growing national deficit.

COVID-19 and the Economy

The COVID-19 pandemic forced a large-scale shutdown of the economy. Many workers remain jobless or underemployed to this day. In response, programs such as the CERB and CRB were developed so that Canadians could keep their heads above water. However, these programs are only a temporary lifeline.

As a result of emergency spending, Canada’s deficit is expected to reach $380 billion. This number could increase if additional lockdown measures become necessary.

During this crisis, which has threatened both public health and the economy, the richest among us have seen their wealth soar. Canadian billionaires have added $53 billion to their coffers since April.

Many economists are now predicting a “K-shaped recovery”. This means that some people will recover quickly from the pandemic, while others will be left behind.

Canadians Favour a Wealth Tax

Polls and surveys show that Canadians of all political stripes are united in their desire for fair taxation. Most of us favour a wealth tax, regardless of our party affiliation. Even Canadians in the highest tax bracket believe that a wealth tax is necessary and fair.

The only group of Canadians opposed to a wealth tax seems to be our elected representatives in Ottawa. NDP leader Jagmeet Singh proposed a wealth tax in November but received no support from the Liberals, Conservatives, or Bloc Quebecois, despite the fact that most voters are in favour of such a policy.

Tell Ottawa to Stand Up for Canadians

Most of us have done our part in these trying times. We have missed work, bill payments, and rent. We have missed birthdays, celebrations, and funerals. We have missed each other as we keep apart so we can stay safe.

When will pandemic profiteers do their part by paying their fair share?

When will our politicians do their part by implementing taxes that Canadians support?

Sign this petition to tell Ottawa that we demand fair taxes and a fair economic recovery from COVID-19.