Cancelling Billionaires Before They Cancel Us The Urgent Case for a Wealth Tax [electronic resource] :
A jarring portrait of a deeply unequal Canada and how a wealth tax could rein in the destructive power wielded by today’s billionaires. As the ultra-wealthy siphon off an ever-larger share of the world’s wealth, they now dominate us to a degree unimaginable even a decade ago. With their voracious consumption, unbridled resource exploitation, and relentless obstruction of climate action, they are rapidly undermining democracy and destroying the very viability of the earth for human life. Their staggering power and hoarding of wealth have prompted a number of G20 nations to consider imposing a wealth tax, aimed exclusively at the super-rich. In Canada, such a tax would apply only to those with wealth above $25 million. Yet it could collect $40 billion a year — funding public programs that could immensely improve the lives of millions of Canadians while clipping the wings of the super-rich. Billionaires would threaten to depart. But as they left the country that had nourished them and enabled them to grow so wildly rich, they’d face a hefty “exit tax” on the way out. Yes, change is possible.
Record details
- ISBN: 9781459754850
- Physical Description: 264 p.
- Publisher: [S.l.]: Dundurn Press, 2026.
Content descriptions
| Target Audience Note: | General adult. |
Search for related items by subject
| Subject: | Economic Conditions > BUSINESS & ECONOMICS Economic Policy > Public Policy Social Classes > SOCIAL SCIENCE |
| Genre: | Electronic books. |
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A jarring portrait of a deeply unequal Canada and how a wealth tax could rein in the destructive power wielded by todayâs billionaires.
In recent years, a tiny wealthy elite has pulled far ahead of all other Canadians. Amassing wealth at a faster pace than ever before â even faster than their U.S. counterparts â Canadaâs billionaires are siphoning off for themselves an ever-larger share of the nationâs wealth, at the expense of the rest of us.
Furthermore, they are part of a new global elite that dominates the world to a degree unimaginable even a decade ago. The super-rich have always commanded the lionâs share of resources, but they are now also driving us towards climate catastrophe, with the power to determine whether the Earth will even remain habitable.
The best hope for stopping this train wreck and distributing resources more widely is a wealth tax, aimed exclusively at the super-rich. Polls show the idea is wildly popular with Canadians. Billionaires have managed to keep it off the political agenda so far, but McQuaig and Brooks argue now is the time for change.