There has never been a better opportunity to make our tax system fairer and reduce inequalities with a wealth tax. The ultra-rich are certain to use their influence with the Liberals to fight it—and that’s why we need the power of people and strong public pressure to achieve it.
We believe that fair taxation can make a better Canada, and that taxing the super-wealthy is an important first step, since we know the richest Canadians have fortunes so large that their lavish lifestyles would be unaffected by such taxes, and the Canada those taxes would help develop would mean they too would live in a safer, more beautiful, more prosperous country.
The PERT’s tax recommendations are little more than window dressing, designed to make it look like all avenues for a Reset have been considered when in fact the choices made will reinforce income and wealth inequality and create the crisis the government is hoping to avoid.
A fairer deal would include a higher share of multinational profits allocated (at least 30% of “non-routine” profits, and a lower than 10% rate for routine profits), not force countries to eliminate their digital services taxes or similar measures, and a fairer allocation formula that provides more revenue to developing countries, as the G24 group of countries have called for.
[français ci-dessous] The Pandora Papers show the vast scale of aggressive tax avoidance through tax havens, and the urgency of immediately dealing with a problem that costs Canadians as much as $25 billion per year, according to the Parliamentary Budget Officer. ...