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Share the Wealth!
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Share the Wealth!

How we can tax Canada’s super-rich and create a better country for everyone

By Jonathan Gauvin and Angella MacEwen

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Canada is a rich country getting richer. But over the past 20 years, a huge portion of the country’s wealth increase has gone to a small handful of the super-rich. Canada’s one per cent have seen their share of Canada’s wealth grow by almost six times since 1999 to $2,203,000,000,000 USD today. Meanwhile, half of all Canadian families experience income insecurity and can’t get the support they need from ever-shrinking public services.


Canada’s super-rich gained $76 billion during the 12 months after COVID-19 hit. Canadians are ready for measures that would distribute wealth more fairly, and give governments the funds to pay for pharmacare, improve long-term care, take serious climate action, implement paid sick leave and more. But the Liberal government took no serious measures in its 2021 budget to tackle this issue.


Policy experts Jonathan Gauvin and Angella MacEwen show exactly how Canada’s wealth can be more fairly shared with measures that would impact only the one per cent: a wealth tax, higher taxes on the highest incomes, higher taxes on large corporations and higher taxes on big profits coming from capital gains. They also propose measures to shut down tax loopholes and tax havens and to tax web giants. This book shows how we can share the wealth so everyone will be better off — even the richest.

Contents

Foreword
Authors’ Preface

Part One: Choices and Consequences

  1. An Economy That Works — for the Wealthy
  2. The Myths Used to Create and Justify Inequality
  3. The Choices That Created Economic Inequality

 

Part Two: Share the Wealth — How We Can Do It

  1. Taxing Individual Wealth
  2. Closing Tax Loopholes
  3. Increasing Income Taxes for the One Per Cent
  4. Tackling Tax Havens
  5. Increasing Corporate Taxes
  6. Web Giants

 

Part Three: Building Shared Wealth

  1. The Government Role in Creating Wealth
  2. What We Could Build, and How We Can Address Inequality
  3. Will We Share the Wealth?

 

Afterword
Acknowledgements
References
Index

“With wealth concentration reaching staggering levels in Canada, polls show broad support for a wealth tax but lots of opposition from the elite. This easy-to-read book explains why. Share the Wealth makes a compelling and convincing case that Canadians would benefit enormously from an end to ‘wealth hoarding’ in Canada.”

- Linda McQuaig, author of The Sport & Prey of Capitalists

“How will governments raise revenues to pay for improved public goods and services in a post-COVID economy? There is a broad policy consensus that a more sustainable, resilient and inclusive economy will require a more progressive approach to income and wealth taxes. Gauvin and MacEwen have done an excellent job summarizing the literature and arguments. Read this book.”

- Kevin Page, President of the Institute of Fiscal Studies and Democracy, University of Ottawa, former Parliamentary Budget Officer of Canada

“Gauvin and MacEwen believe that we do not have to live in a Canada where those at the top get growing incomes, and lower taxes, while everyone else puts up with income stagnation and public service cuts. The inequality of COVID-19’s impacts only heightens the urgency of their proposals for fairer taxes and better policies. A book that deserves to be widely read.”

- Lars Osberg, Professor of Economics at Dalhousie University, author of The Age of Increasing Inequality, former president of the Canadian Economics Association

“Angella MacEwen and Jonathan Gauvin pool their considerable knowledge into a well-researched and logical argument in favour of a wealth tax and other fiscal tools to reduce inequality. Their book is a timely exploration of the most troubling economic fallout of the pandemic, tackling myths and proposing solutions with rigour.”

- Heather Scoffield, Toronto Star economics columnist and Ottawa Bureau Chief

Share the Wealth details the consequences of inequality and shreds common propaganda against wealth and corporate taxes in this accessible guide on why these taxes are necessary—urgent, even, especially in the shadow of COVID-19—to transform Canada into a healthier, kinder, and fairer nation.”

- Meghan Bell, author of “I'm Part of the 0.1 Percent and I Want a Wealth Tax” in The Walrus

“In Share the Wealth, authors Gauvin and MacEwen...envision a more just future offering specific, clearly articulated policy proposals to help us (re)learn how to share our wealth. This is very much the right book for this moment in Canadian history.”

- Daniel Hoyer, member of Resource Movement

“A splendid book. The writing is lucid and precise and the thinking cogently persuasive. The authors show how a series of tax cuts favouring the rich and corporations by governments, from Jean Chrétien and Paul Martin to Stephen Harper, left us with great inequality and $50 billion a year short to fund needed social programs. Their analysis shows precisely how the tax system favours the rich at the expense of the rest of us. And they provide solutions!”

- Ed Broadbent, chair of the Broadbent Institute and former leader of the NDP

JONATHAN GAUVIN has been the federal NDP’s Director of Policy since December 2017 and contributed to the drafting of the NDP’s election platform in 2019. Prior to that, he was an issue coordinator in the NDP leader’s office. He holds degrees from the University of Ottawa and l’Université Laval. He’s a political buff who deeply wishes to build a better world for everyone, especially his two children. He lives in Gatineau, Quebec.

ANGELLA MacEWEN is a senior economist with the Canadian Union of Public Employees (CUPE), a policy fellow with the Broadbent Institute and was an NDP candidate in the 2019 federal election. Angella writes a quarterly publication with CUPE, Economy at Work, which examines fiscal and social policy for workers. She holds a MA in Economics from Dalhousie University. She lives in Ottawa, Ontario.

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Publication Details:

Binding: Paperback, 208 pages
Publication Date: 25th May 2021
ISBN: 9781459416567
Format: 9in x 6in

Binding: Electronic book text
Publication Date: 25th May 2021
ISBN: 9781459416574
Format: EPUB

BIC Code: JFFA, JFFB, JFSC, JPQB, KCB, KCP, KCZ, RGCM
BISAC Code:  4.0.2.0.0.0.0, BUS022000, BUS023000, POL024000, SOC045000, SOC050000
Imprint: Lorimer


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