In his critique of Jagmeet Singh’s appraisal of the federal budget, Martin Regg Cohn missed the item that most resonated to me: the lack of any real wealth tax.
I often get tired of Singh’s constant criticism of the Liberals on an number of issues upon which they mostly agree. However, in his criticism of the complete omission of any real wealth tax at a time when social and financial inequality are so glaringly obvious, I completely agree with Singh.
It is well past time for those who have such an uncanny amount of accumulated wealth and power to pay their fair share. They have become shockingly more wealthy during this global pandemic, so why not ask them to pay more, substantially more, in taxes to reduce a debt the result of which they have benefitted? Why not ask them to pay their fair share of taxes period? Why not plug tax loopholes?
I had hoped for much more from the finance minister who scathingly wrote about appalling inequality and the resulting unequal balance of power in her book “Plutocrats.”
Clearly, Chrystia Freeland was either not ready to wield her considerable influence, or she was silenced by those who have traditionally held power.
This was an opportunity missed by this Liberal government to their peril.
Unbridled wealth leading to rising inequality is the elephant in the room.