Poll Shows Strong Support For Annual Wealth Tax On Canadians With Assets Over $50 Million

Following multiple reports of politically-connected elites avoiding taxes by using foreign offshore tax havens, it’s no surprise that support for a wealth tax is strong across party lines.

A new poll shows strong support for a wealth tax which would apply to Canadians with assets of over $50 million.

According to a survey by Abacus Data, 67% of Canadians support or somewhat support the idea of a wealth tax.

The specific proposal discussed in the poll would apply a 2% tax to Canadians with assets over $50 million, and would be paid once per year.

Here are the key numbers:

67% support the idea of a wealth tax.

14% are opposed.

17% are unsure.

Notably, while 78% of Liberals and 80% of NDP supporters are in favour of the idea, 60% of Conservatives also support it, according to the survey. 24% of Conservatives are opposed.

The widespread support for the proposal is not a surprise, considering the many stories we’ve seen of how the elites have corrupted the political system for their own benefit.

For example, we’ve seen how well-connected Liberal elites have been avoiding paying their share of taxes by using foreign offshore tax havens. Meanwhile, the federal government refuses to make those foreign offshore tax havens illegal. And at the same time, they slam working and middle class Canadians with a carbon tax that makes everything more expensive and makes the affordability crisis even worse.

If the elites were seen as paying their share of taxes, then support for a wealth tax would be far lower, but having seen how corrupt the system is – where companies like SNC-Lavalin can seemingly get away with anything – Canadians are tired of paying our taxes while the elites don’t pay theirs.

This poll is something the Conservatives should pay serious attention to. While campaigning against the carbon tax is common sense, the Conservatives can’t just reflexively say ‘no’ to the idea of a wealth tax if the NDP and/or Liberals campaign on it.

If the Liberals or NDP make it a big issue, the Conservatives will either have to support the idea of a wealth tax, or propose an alternative, such as a massive crackdown on foreign offshore tax havens.

Spencer Fernando

Photo – YouTube

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George B
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George B

Anyone that supports this Socialist policy is not a “conservative” (classical Liberalism), but rather an economic illiterate, who is not only supporting theft, but also supporting policy that will drive wealth out of Canada.

NancyW
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NancyW

I think, that if all those applying (and looking for votes) for well paid Canadian government jobs, should be able truthfully and transparently to expose where their money is invested (including trusts etc.) and if it is not in and FOR Canada, they need not apply. That way they will be FOR Canada and Canadians and want us all to do better and be careful with our tax dollars. They also have to stay transparent and honest while in government as to any extra money they receive, while in government, and much stronger laws to keep us all honest.

Dave Allsopp
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Dave Allsopp

I suppose this reveals the closet Liberals amongst the Conservatives. Left-leaning people are fine dipping their grubby fists into other people’s pockets when they see the wealthy as stingy and greedy when in fact, the wealthy, in great majority are industrious and responsible with their finances (as the majority of wage earning Canadians have been shown NOT TO BE living paycheck to paycheck with many maintaining a lavish, unsustainable lifestyle on credit)! Meanwhile many wealthy people are great philanthropists, supporting many causes with their money. I think that the 60% of Conservatives who agree with this need to look at… Read more »

Sharon Maclise
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This is a nonsensical and unfair tax. People in a decent Democracy should not be made subject to a tax for no other reason than that they are rich. If you apply it as purely a “wealth tax” this tax would be on money they already paid taxes on. What sort of Socialist garbage is this? If the gov’t wants to increase taxes at the higher level they can do that but just arbitrarily deciding rich people need to be punished for their wealth is only something communists and totalitarians do. If people are getting away with not paying their… Read more »

Nick
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Nick

People are angry at the wealthy who try to avoid confiscatory tax rates, while they sit silently by and let their own pockets be raided by a carbon tax? Am I missing something here?

Sam Smith
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Sam Smith

This is a slippery slope. If the government didn’t spend our tax dollars so poorly a lot more people would support this. The problem is that wealthy people tend to be smart. So all they’ll do is steer their assets MORE offshore so they’re under the 50m requirement. They’ll be more careful, hire more advisors and lawyers because 1 million pays a lot of advisors. We’ll also lose more rich people as they will leave. Because they can. The poor and middle class don’t understand the options available to the wealthy. Do you want your employer to leave the country… Read more »