What can we do about the growing disparity? A lot actually.

The Perspectives Journal Podcast speaks with Dylan Dusseault, Executive Director of Patriotic Millionaires Canada, about the need to tackle extreme wealth inequality to save democracy, and his organization’s survey of G20 Millionaires.

New polling shows that taxing the wealthy maintains majority support, even among the wealthy themselves. That should be reflected in international priorities.

Être ultrariche mais militer pour payer plus d'impôts. Cela peut paraître surprenant, mais c'est pourtant ce que réclament 400 millionnaires et milliardaires, dont 25 Canadiens, l’acteur Mark Ruffalo et deux héritiers de la famille Disney. On a pu parler à l’une des signataires, la philanthrope et entrepreneure québécoise Claire Trottier, présidente du CA du groupe Millionnaires Patriotes.

Jusqu’ici, 367 ultrariches des pays du G20 – parmi lesquels se trouvent 25 Canadiens – réclament que leur gouvernement leur fasse payer plus d’impôts.

“It should be obvious to anyone, no matter how wealthy, that extreme wealth inequality is destabilizing democracies, economies, and societies around the world,” says Claire Trottier, the philanthropist and business owner who chairs the Board of Patriotic Millionaires Canada. “You don’t need a crystal ball. It’s happening right now, and governments need to act with urgency before it’s too late. Taxation is the best tool the government has to constrain dangerous levels of wealth inequality, but as it stands, the tax code is only helping to make things worse”

As Executive Director Dylan Dusseault says, “billionaire families” like the Westons and Pattisons are a reflection of weak points in Canada’s tax code.

Les plus grandes fortunes bénéficient de traitements fiscaux de plus en plus avantageux sous la fausse promesse de la théorie du ruissellement, et grâce à leur influence sur les politiques publiques.

« On ne peut pas attendre la générosité volontaire des riches pour résoudre des problèmes systémiques de notre société. »

« Cent pour cent de ton salaire est imposé. Mais quand moi je fais du revenu, du gain en capital, 50 % n’est pas taxé. Donc, je suis seulement imposée sur 50 % de mon revenu. J’ai 50 % gratuit! C’est comme si quand tu atteins un certain niveau de richesse, on dit : “Félicitations, tu as gagné au capitalisme!” On te donne un cadeau fiscal. »

“One downside is that billions will be lost in revenue over the next few years that could have gone to crucial investments. But the number one problem with corporate tax cuts? They just don’t work.”

Patriotic Millionaires Canada Executive Director Dylan Dusseault joins experts from Canadians for Tax Fairness, the Canadian Labour Congress, and others to discuss the organization’s mission and why taxing the ultra-rich is a economic and societal imperative.

Membre du 1 % des plus riches au Québec, Claire Trottier milite pour payer plus d’impôt parce qu’on assiste, déplore-t-elle, à une « accumulation de richesse et de pouvoir absolument hors contrôle ».

“The tax code is the best tool the government has to reduce wealth inequality, but its current design guarantees that the wealthy will always get a better deal than working Canadians.”

Read about the dozens of wealthy Canadians who signed a letter demanding the government reduce wealthy inequality in an upcoming budget by “effectively taxing the rich”.

“One of us is a former member of the Canadian Parliament, and the other is a current member of the 1%, so we’re well-positioned to tell you that our current level of wealth inequality is threatening the stability of our economy and democracy, and is partially the result of a failure to tax extreme wealth.”

Patriotic Millionaires Canada Chair Claire Trottier joins the Clearing the Benches Podcast to discuss how the Canadian tax code favors the uber-rich, and why it’s a problem.

“Recent polling shows Canadians are overwhelmingly supportive of a wealth tax. Many doctors have supported higher taxes on high income earners before. Now, a new group of Canadians called ”Patriotic Millionaires” are calling for higher taxes on the wealthy.”

Tech entrepreneur Avi Bryant discusses why taxing the rich is crucial to reinvesting in our economy and creating opportunities for entrepreneurs, investors, and workers.