Just read “Canada Needs a Wealth Tax” (National Observer). My understanding is that the author would like to see the billionaires and 1% in Canada exposed to a wealth tax. But then suggests 3 wealth tax brackets, the lowest starting at 1% on net wealth of 10 million. Personally, this doesn’t represent the “billionaires” and “elite 1%”. Did I miss something?
Hi Lesley, I don't have insight into what Max was thinking but it might be based on the marginal tax rate. So possibly it might be an additional 3% on top of the current brackets.
Just read “Canada Needs a Wealth Tax” (National Observer). My understanding is that the author would like to see the billionaires and 1% in Canada exposed to a wealth tax. But then suggests 3 wealth tax brackets, the lowest starting at 1% on net wealth of 10 million. Personally, this doesn’t represent the “billionaires” and “elite 1%”. Did I miss something?
Hi Lesley, I don't have insight into what Max was thinking but it might be based on the marginal tax rate. So possibly it might be an additional 3% on top of the current brackets.