The New Democratic Party’s proposed wealth tax, a centerpiece of funding the party’s election platform, could raise nearly $70 billion over the next 10 years, Canada’s budget watchdog has found.
The “super-wealth tax,” as the NDP is calling it, is similar to an idea promoted by U.S. Democratic presidential candidate Elizabeth Warren, and is part of the NDP’s campaign focus on tax fairness and inequality.
The party wants to apply a 1% tax to fortunes worth more than $20 million. Unlike a tax on income, a wealth tax would apply to all assets, including real estate, with the aim of reducing economic inequality.
[FULL STORY HERE]
World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.
No comments:
Post a Comment