Canceling Billionaires Before They Cancel Us
The Urgent Case for a Wealth Tax
Book •
Linda McQuaig and tax scholar Neil Brooks argue for a new, targeted wealth tax on the ultra-wealthy in Canada to address extreme concentration of wealth and fund public services.
They propose thresholds (starting at $25 million) and graduated annual rates designed to capture un-taxed wealth growth without targeting middle-class households.
The book examines how current tax rules let wealth accumulate untaxed through borrowing and unrealized capital gains, and critiques private philanthropy and foundations for their public cost and limited public benefit.
It situates the wealth tax proposal in international debates and historical moments when progressive taxation funded social programs and built the middle class.
The authors present political and technical strategies to make such a tax feasible and to counter arguments about capital flight.
They propose thresholds (starting at $25 million) and graduated annual rates designed to capture un-taxed wealth growth without targeting middle-class households.
The book examines how current tax rules let wealth accumulate untaxed through borrowing and unrealized capital gains, and critiques private philanthropy and foundations for their public cost and limited public benefit.
It situates the wealth tax proposal in international debates and historical moments when progressive taxation funded social programs and built the middle class.
The authors present political and technical strategies to make such a tax feasible and to counter arguments about capital flight.
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Linda McQuaig
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