We live in a world where a minority—the richest 1%—capture twice as much money as the remaining 99% of the population. [1] The super-rich emit more carbon than 66% of the entire world population and hoard wealth, leaving poisoned crumbs to the rest of us. [2]
And they’re supported by a system, including here in Canada. Over the last 40 years, tax cuts for corporations and capital investments have led the top 1% to capture large amounts of the country’s wealth. The average market income of the top 0.01% has grown six times faster than that of the bottom 50%, who aren’t quite profiting from so-called Canadian economic growth. [3]
Now that the cost of living crisis is hitting people across Canada, it is only fair they pay their share. We demand lower taxes for workers and inflation-relief measures for all, funded by the very people who created the crisis and bankroll on it.
A wealth tax on just the richest 0.5% in Canada would generate $30 billion per year, supporting tax cuts to middle- and low-income workers and funding critical public services, climate action and nature protection. [3]
The money to ensure a safe future for people and the planet is there, it’s just in the wrong hands. Join us in urging the government to tax the super-rich and support fair tax rules for everyone across Canada.
Sources:
[1] https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years
[2] https://www.oxfam.org/en/press-releases/richest-1-emit-much-planet-heating-pollution-two-thirds-humanity
[3] https://www.taxfairness.ca/en/resources/reports/canadas-affordability-divide-how-1s-rise-left-millions-behind
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