Lightnews — Scholar-powered news

Reposted by Patriotic Millionaires Canada

Social Capital Partners🇨🇦 @scpartners.bsky.social · 4d

Canada’s wealth gap is way worse than official data show.

The PBO just confirmed the top 1% own nearly 25% of all wealth—which StatsCan missed because it doesn’t even count the richest families in its surveys.

🔗 Read more: socialcapitalpartners.ca/wealth-inequ...

#CdnPoli #BillionaireBlindspot

Wealth inequality in Canada is far worse than StatsCan reports

Our government’s best available data on Canada’s wealth gap excludes, by design, the wealthiest families in the country. As SCP Director of Policy Dan Skilleter writes, if we didn’t have the Parliamen...

socialcapitalpartners.ca

5 14

Reposted by Patriotic Millionaires Canada

Claire Trottier 🇨🇦 @doctrott.bsky.social · 3d

A must read thread responding to the most bizarre “critique” I’ve ever seen of wealth taxes. The article reads pretty much like a verbatim copy of @patmillscanada.bsky.social ‘s central messaging, while telling us to cut a check to the government and to shut up 🤷🏼

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Wow! Someone's cranky!

While we appreciate the free press from Terence, let's see if we can improve his mood point by point.

financialpost.com/opinion/tere...

Terence Corcoran: Help! I’m rich, so tax me more. Pretty please…

Here’s a message for socialist millionaires: send in the money voluntarily, or shut up. Read more from Terence Corcoran

financialpost.com

2 4

Reposted by Patriotic Millionaires Canada

Claire Trottier 🇨🇦 @doctrott.bsky.social · 3d

📢📢📢

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Sending money voluntarily does not solve the problem! Taxes should require those who have profited the most from investments in education, infrastructure, healthcare, etc. to reinvest back into the economy and ensure those services stay well funded.

2 4

Reposted by Patriotic Millionaires Canada

Blen @blenblanchard.bsky.social · 3d

“Sending money voluntarily does not solve the problem! Taxes should require those who have profited the most from investments in education, infrastructure, healthcare, etc. to reinvest back into the economy & ensure those services stay well funded.”

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Wow! Someone's cranky!

While we appreciate the free press from Terence, let's see if we can improve his mood point by point.

financialpost.com/opinion/tere...

Terence Corcoran: Help! I’m rich, so tax me more. Pretty please…

Here’s a message for socialist millionaires: send in the money voluntarily, or shut up. Read more from Terence Corcoran

financialpost.com

2 4

Reposted by Patriotic Millionaires Canada

Sabina Vohra-Miller @sabivm.bsky.social · 3d

Haha I guess my piece hit a nerve!
@patmillscanada.bsky.social on 🔥 with this rebuttal!

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Wow! Someone's cranky!

While we appreciate the free press from Terence, let's see if we can improve his mood point by point.

financialpost.com/opinion/tere...

Terence Corcoran: Help! I’m rich, so tax me more. Pretty please…

Here’s a message for socialist millionaires: send in the money voluntarily, or shut up. Read more from Terence Corcoran

financialpost.com

1 9

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

No❤️

1 1 7

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Right now, while Canadians who actually work for a living are paying taxes on 100% of their paycheck, rich Canadians who make their money via a few clicks in their brokerage account are only paying taxes on half the profits. That has to change.

1 4 9

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

We would never deny that big things are hard to do!

But the alternative is a country where working Canadians dutifully pay their taxes and the uber-rich don't.

That's just not the kind of country we want to live in, and most people agree (about 80% of them in fact)
abacusdata.ca/wealth-tax-c...

Wealth tax? Canadians like the idea. - Abacus Data

%

abacusdata.ca

1 3 10

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

It’s true, some wealth taxes have been tried and abandoned. Sometimes due to legitimate challenges, and sometimes due to billionaire funded lobbying and political campaigns to undermine them.

1 2 6

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Terence actually makes this point for us not one paragraph later! But pardon us if we’re not holding our breath for the benevolence of billionaires.

1 3 9

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

That means universal requirements and standardized systems that allow governments to collect revenue predictably and fairly.

What Terence is describing is philanthropy via the CRA.
@patmillscanada.bsky.social organize to fix a broken system, not to do philanthropy.

1 2 8

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Sending money voluntarily does not solve the problem! Taxes should require those who have profited the most from investments in education, infrastructure, healthcare, etc. to reinvest back into the economy and ensure those services stay well funded.

1 3 20

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

a group of men standing next to each other with the words " you keep using that word " on the bottom

ALT: a group of men standing next to each other with the words " you keep using that word " on the bottom

media.tenor.com

1 2 6

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Still not sure what a billionaire socialist utopia is supposed to be… but let's move on to Terry's main point.

1 2 6

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

If you want to hear more from Sabina’s great piece with Ratna Omidvar…

bsky.app/profile/sabi...

Sabina Vohra-Miller @sabivm.bsky.social · 11d

In Canada, top 1% of wealth holders hold 24% of total wealth.
Meanwhile, PM Carney has an ‘austerity budget’, which will impact the disadvantaged.
Patriotic Millionaires Canada, which I am a board member of, estimated that a 3% tax on wealth over $100-million could raise $25-billion annually.

1 2 6

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Not sure what to say about this other than thanks for the amplification!

1 3 5

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

You should check out exactly how atypical here: macleans.ca/politics/tax...

I’m a Millionaire. Tax Me More, Please. - Macleans.ca

Wealthy Canadians like me can afford to pay extra for the greater good

macleans.ca

1 3 9

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

We're also not sure we'd call Avi a "typical tax evangelist".

In fact, we think he's pretty atypical!

1 2 4

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

First off: “socialist millionaires”.

Maybe he just wants to call everything he dislikes socialist, but words have meaning.

Making billionaires pay taxes is not actually socialist! It has nothing to do with communal ownership of the means of production.

So, don't worry Terry!

1 5 12

Patriotic Millionaires Canada @patmillscanada.bsky.social · 3d

Wow! Someone's cranky!

While we appreciate the free press from Terence, let's see if we can improve his mood point by point.

financialpost.com/opinion/tere...

Terence Corcoran: Help! I’m rich, so tax me more. Pretty please…

Here’s a message for socialist millionaires: send in the money voluntarily, or shut up. Read more from Terence Corcoran

financialpost.com

1 10 24

Patriotic Millionaires Canada @patmillscanada.bsky.social · 5d

"In 2024, billionaire wealth grew by $309 million daily, pushing the total wealth of Canada's 65 billionaires to nearly $500B – more than the combined GDP of many countries.... Fair taxation is one of the most powerful tools to tackle inequality."

Oxfam Canada @oxfamcanada.bsky.social · 5d

"Budget 2025 is a chance to make bold, people centred choices. At the time of rising inequality, global conflict, and threats to human rights, Canada must choose fairness, dignity, and security for all."

Read our recommendations for the upcoming federal budget here 👉 www.oxfam.ca/story/buildi...

Building a Canada that Works for Everyone: Oxfam Canada’s Recommendations for the Upcoming Federal Budget

As the federal government readies to table its next budget the stakes could not be higher. We are living through a time of profound uncertainly. Around the world, armed conflicts, climate disasters an...

www.oxfam.ca

2 3

Reposted by Patriotic Millionaires Canada

Andrew Berkshire @berkshire.bsky.social · 9d

In case you missed it, @doctrott.bsky.social joined @davekaufman.bsky.social and I to talk about the realities of wealth disparity in Canada and how to address it.

Clearing the Benches is available on your preferred podcast platform.

Patriotic Millionaires Canada @patmillscanada.bsky.social · 12d

Our Board Chair @doctrott.bsky.social joined @berkshire.bsky.social and @davekaufman.bsky.social on Clearing the Benches to talk extreme wealth inequality and how the tax code is fueling it.

patrioticmillionaires.ca/media/taxing...

Taxing the Super Wealthy- With Claire Trottier — Patriotic Millionaires CA

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. Listen on Spotify Li...

patrioticmillionaires.ca

1 3 4

Reposted by Patriotic Millionaires Canada

Social Capital Partners🇨🇦 @scpartners.bsky.social · 9d

🚨New video🚨

As Canadians, we like to think we’re strong and free. But, when it comes to the wealth gap, we’re looking more like America Lite—better manners, but almost all the inequality.

#CdnPoli #CanadaSky #Wealth #EconSky

1 18 27

Patriotic Millionaires Canada @patmillscanada.bsky.social · 11d

bsky.app/profile/sabi...

Sabina Vohra-Miller @sabivm.bsky.social · 11d

In Canada, top 1% of wealth holders hold 24% of total wealth.
Meanwhile, PM Carney has an ‘austerity budget’, which will impact the disadvantaged.
Patriotic Millionaires Canada, which I am a board member of, estimated that a 3% tax on wealth over $100-million could raise $25-billion annually.

1

Reposted by Patriotic Millionaires Canada

Sabina Vohra-Miller @sabivm.bsky.social · 11d

In Canada, top 1% of wealth holders hold 24% of total wealth.
Meanwhile, PM Carney has an ‘austerity budget’, which will impact the disadvantaged.
Patriotic Millionaires Canada, which I am a board member of, estimated that a 3% tax on wealth over $100-million could raise $25-billion annually.

2 57 140