Anyone with a net worth of $20 million can afford to pay $200,000 more in taxes. The question is, will we be able to actually generate this extra revenue? As wealthy people have great accountants who can hide their wealth from the government. And a certain percentage of wealthy people might leave the country. Most wealthy Canadians probably have roots in this country (ie. friends, parents, siblings, aunts, uncles, cousins) and wouldn't leave over a 1% wealth tax bill. I imagine that hiding their wealth from the government is going to be the bigger problem.

The other question is, if you collect the revenue, what is it going to be spent on? The government wastes money on all kinds of shit. In fact they just ran up a $400 billion deficit over a virus that killed only 0.0273% of the country.

Anyone with a net worth of $20 million can afford to pay $200,000 more in taxes. The question is, will we be able to actually generate this extra revenue? As wealthy people have great accountants who can hide their wealth from the government. And a certain percentage of wealthy people might leave the country. Most wealthy Canadians probably have roots in this country (ie. friends, parents, siblings, aunts, uncles, cousins) and wouldn't leave over a 1% wealth tax bill. I imagine that hiding their wealth from the government is going to be the bigger problem.

The other question is, if you collect the revenue, what is it going to be spent on? The government wastes money on all kinds of shit. In fact they just ran up a $400 deficit over a virus that killed only 0.0273% of the country.