When the top fifth of Canadians are worth 1,250 times the lower fifth, it's time for a wealth tax
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["Unlike many of our OECD brethren, Canada does not currently levy an inheritance, estate or wealth tax of any sort. Where they do exist, wealth taxes are increasingly under both rhetorical and technocratic threat." *RON*]
By Carter Vance, rabble.ca, 14 March 2016
When not denying the problem exists at all, its apologists tend to state that inequality is the result of overall market forces which the government has little control over.
In other words, we should not be too concerned -- despite a rapid increase in Canada's inequality coefficient from 1976. That is, average market incomes have actually dropped for the bottom 60 per cent of Canadians since the mid-1970s. In fact, it is only in after-tax and transfer terms that low and moderate income Canadians have made any income gains at all in the past 30 years.
["Unlike many of our OECD brethren, Canada does not currently levy an inheritance, estate or wealth tax of any sort. Where they do exist, wealth taxes are increasingly under both rhetorical and technocratic threat." *RON*]
By Carter Vance, rabble.ca, 14 March 2016
When not denying the problem exists at all, its apologists tend to state that inequality is the result of overall market forces which the government has little control over.
In other words, we should not be too concerned -- despite a rapid increase in Canada's inequality coefficient from 1976. That is, average market incomes have actually dropped for the bottom 60 per cent of Canadians since the mid-1970s. In fact, it is only in after-tax and transfer terms that low and moderate income Canadians have made any income gains at all in the past 30 years.