A jarring portrait of a deeply unequal Canada and how a wealth tax could rein in the destructive power wielded by today’s 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 — even faster than their U.S. counterparts — Canada’s billionaires are siphoning off for themselves an ever-larger share of the nation’s 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 lion’s 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.
