Is it time to impose a property tax in Canada?

In 2020, 5.5 million Canadian staff misplaced their jobs. In the identical 12 months, 47 Canadian billionaires noticed their wealth improve by $78 billion. However the rising inequality did not start through the pandemic. In reality, because the Eighties, the richest Canadians have seen their wealth improve, whereas middle- and low-income Canadians have seen their wealth lower.

Between 1982 and 2018, the highest 1 p.c of Canadians noticed their revenue double, the higher center class noticed an revenue improve of about 10 p.c, and everybody else noticed no improve in wages. In reality, they did not even sustain with wage inflation.

What’s so dangerous about rising inequality in Canada?

Why COVID-19 is a disparity virus

Wealth inequality in Canada is staggering. Final September, Statistics Canada reported that the wealthiest 20 p.c of Canadians at the moment personal greater than 65 p.c of the wealth within the nation, whereas the underside 40 p.c — practically half the nation — have solely 2.5 p.c of wealth as of 2020.

Popping out of the pandemic, governments are in search of methods to cut back debt and repair systemic points in well being care and long-term care, in addition to filling gaps within the social security web that has been clarified over the previous two years.

This week Angela McEwan joins the podcast. Angela is a senior economist on the Canadian Union of Public Workers, a coverage fellow on the Broadbent Institute, and a former federal NDP candidate for the Ottawa Middle. I’ll discuss with him concerning the steps taken by the Canadian authorities to get thus far of inequality and the Broadbent Institute’s plan to tax the rich.

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