I believe in wealth equality where those who are privileged to be wealthy contribute appropriately to those who are not. I also believe that the donations that are being made by the wealthy should be appropriately used and spent towards the greater goal of helping our ecosystem.
I envision a world where everyone wealthy does not have access to loopholes that allow them to evade taxes. There will be a significant reduction in the ultra-wealthy taking advantage of tax loopholes and I wish to see real changes being made with the donation that they do make.
I am supporting this pre-existing campaign called “Tax the Rich” by BroadBen Institute to instigate a tax reform, with 2 of their main focuses which consist of creating a wealth tax, specifically for the wealthiest top 1% of Canadians and closing tax loopholes to prevent the rich from participating from more big philanthropy as discussed in our class pre-class material.
I was surprised to learn that so many of the wealthy were participating in tax loopholes and wish that in addition more media attention is raised to expose those involved. By bringing more attention, this would also discourage others from also partaking in unjust activity. Additionally, with the donations currently being made by the rich, I hope to see a more transparent and public breakdown of the allocation of the funds, also through media exposure so more are aware of how big and prevalent this issue is.
To contribute to this intervention, I am signing their petition that is directed at the Federal Government by sending an email to my MP by bringing up those two above-mentioned points.
Hi Sara, I love that you included the preexisting campaign in your post! Will definitely be checking it out.
Thanks for providing the campaign! It's very interesting to see the social climate has shifted rapidly over the last few years as wealthy individuals have been put into the spotlight. While it's great that some countries are moving to a progressive taxation system and increasing taxes to those with HNW, it's going to be interesting to see the effects of places such as Monaco where there is no wealth or income taxation in that area.
I think similarly to you, and it is shameful for the rich to go through these loopholes to evade taxes; since they make so much money, they are obliged to pay their share of the taxes they need. Some rich people even open their foundations and donate money to their funds. This way, the money is still under his control, and I think this behavior is shameful. They should pay their taxes!
Great post! I was also really socked to hear about the loopholes many rich people use to avoid taxes. I think there is no reason for people to have millions and millions or even billions of dollars and those people should be taxed very heavily.
Hi, Sara. From my perspective, the rich are paying much less tax than they should have to, and they are trying to avoid paying the tax by switching nationality, changing locations of their companies. They are using every possible method to prevent themselves from taking social responsibility. More pressure needs to be addressed to the government to force them change the tax law, instead of taxing on rather low incomers, the rich should become a much more important source of tax income. The money sends to the government by the rich should be tax rather than their political contributions that would turn into policies benefiting them.
Hi Sara,
Ironically my post has a similar title! I love that you gave us an action that we can all take to fix this issue and I would love to sign the petition!
Hi Sara,
I agree with your stance. There needs to be more transparency with the donations these billionaires are making. A donation should be altruistic, but it has become a way for billionaire to gain public recognition and to compound their profits. How can that be??
It billionaires actually paid their taxes, the government and the people would have a say in the issues they want the money to go toward, not the out-of-touch billionaire.
Hi Sara, great post! When I watched "Why Billionaires Won't Save Us" I was shocked as well, finding out that the wealthiest people in the world are also perhaps the greediest. I just don't understand (maybe wealth will change one's perspective) why they would want to hold on to their wealth so much. I really like this specific campaign you brought up, hopefully more people will see this and join as well!