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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

Right now, while Canadians who actually work for a living are paying taxes on 100% of their paycheck, rich Canadians who make their money via a few clicks in their brokerage account are only paying taxes on half the profits. That has to change.

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

We would never deny that big things are hard to do!

But the alternative is a country where working Canadians dutifully pay their taxes and the uber-rich don't.

That's just not the kind of country we want to live in, and most people agree (about 80% of them in fact)
abacusdata.ca/wealth-tax-c...

Wealth tax? Canadians like the idea. - Abacus Data

%

abacusdata.ca

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

It’s true, some wealth taxes have been tried and abandoned. Sometimes due to legitimate challenges, and sometimes due to billionaire funded lobbying and political campaigns to undermine them.

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

Terence actually makes this point for us not one paragraph later! But pardon us if we’re not holding our breath for the benevolence of billionaires.

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

That means universal requirements and standardized systems that allow governments to collect revenue predictably and fairly.

What Terence is describing is philanthropy via the CRA.
@patmillscanada.bsky.social organize to fix a broken system, not to do philanthropy.

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

Sending money voluntarily does not solve the problem! Taxes should require those who have profited the most from investments in education, infrastructure, healthcare, etc. to reinvest back into the economy and ensure those services stay well funded.

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

Still not sure what a billionaire socialist utopia is supposed to be… but let's move on to Terry's main point.

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

If you want to hear more from Sabina’s great piece with Ratna Omidvar…

bsky.app/profile/sabi...

Sabina Vohra-Miller @sabivm.bsky.social · 8d

In Canada, top 1% of wealth holders hold 24% of total wealth.
Meanwhile, PM Carney has an ‘austerity budget’, which will impact the disadvantaged.
Patriotic Millionaires Canada, which I am a board member of, estimated that a 3% tax on wealth over $100-million could raise $25-billion annually.

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

Not sure what to say about this other than thanks for the amplification!

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

You should check out exactly how atypical here: macleans.ca/politics/tax...

I’m a Millionaire. Tax Me More, Please. - Macleans.ca

Wealthy Canadians like me can afford to pay extra for the greater good

macleans.ca

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

We're also not sure we'd call Avi a "typical tax evangelist".

In fact, we think he's pretty atypical!

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

First off: “socialist millionaires”.

Maybe he just wants to call everything he dislikes socialist, but words have meaning.

Making billionaires pay taxes is not actually socialist! It has nothing to do with communal ownership of the means of production.

So, don't worry Terry!

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Reposted by Patriotic Millionaires

Patriotic Millionaires Canada @patmillscanada.bsky.social · 1h

Wow! Someone's cranky!

While we appreciate the free press from Terence, let's see if we can improve his mood point by point.

financialpost.com/opinion/tere...

Terence Corcoran: Help! I’m rich, so tax me more. Pretty please…

Here’s a message for socialist millionaires: send in the money voluntarily, or shut up. Read more from Terence Corcoran

financialpost.com

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Patriotic Millionaires @patrioticmillionaires.org · 20h

Billionaires are bankrolling culture wars to keep us divided.

Why? Because they’d rather you ignore the real issue at hand: working people pay too much in taxes while the wealthy don’t pay enough.

The good news: we have a solution. The MONEY Agenda ➡️ patrioticmillionaires.org/perspectives...

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Patriotic Millionaires @patrioticmillionaires.org · 1d

His new book, Burned by Billionaires, shines a light on how we ended up here in the first place and how we can change course.

There is a solution, and it starts with taxing the mega-rich.

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Patriotic Millionaires @patrioticmillionaires.org · 1d

Our board member Chuck Collins has it right: "We should be concerned about an economic system that funnels so much wealth upward to the billionaires."

They are stealing wages while working people continue to feel the pain of paying higher prices with stagnant income.

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Patriotic Millionaires @patrioticmillionaires.org · 1d

What's more is that even during the past five years of economic instability, the stock market has only continued to grow and benefit just a small number of Americans:

10% of the population owns 93% of stock market wealth.

Let that sink in.

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Patriotic Millionaires @patrioticmillionaires.org · 1d

At the height of the pandemic in 2020, the wealth of the world’s billionaires grew 54%.

That's not a design flaw of our system. It's the system working as it is currently intended to. www.theguardian.com/news/2025/oc...

Boom time for US billionaires: why the system perpetuates wealth inequality

As the super rich grow even richer, inequality expert Chuck Collins says the system is broken – but it can be fixed

www.theguardian.com

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Patriotic Millionaires @patrioticmillionaires.org · 2d

Read the full article here: www.newsobserver.com/news/politic...

For NC federal workers, government shutdown disrupts finances, job security

For tens of thousands of North Carolina federal workers, the government shutdown is more a personal matter than a political dispute.

www.newsobserver.com

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Patriotic Millionaires @patrioticmillionaires.org · 2d

When workers are forced to go without paychecks, families suffer, our communities suffer, and our economy suffers. The impacts of a shutdown will be felt for far longer than the shutdown itself.

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Patriotic Millionaires @patrioticmillionaires.org · 2d

The government shutdown doesn't solely impact people working working inside the nation's capital. It impacts communities across the country where the federal government is a leading employer in the area.

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Patriotic Millionaires @patrioticmillionaires.org · 2d

This is a reminder that you do not have the same 24 hours in a day as the ultra-wealthy, because they can outsource the kinds of tasks working people need to do on their day to day to get by.

This is also a reminder we need to tax 👏 the 👏 rich 👏 www.nytimes.com/2025/10/04/b...

Your Wealthiest Friend Has a Private Concierge

www.nytimes.com

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Patriotic Millionaires @patrioticmillionaires.org · 2d

We need to put an end to this imbalance. When you can take care of yourself and your family, and you can meet your needs, there is more stability and less "othering" within our society.

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Patriotic Millionaires @patrioticmillionaires.org · 2d

The people on top want working people to fight with one another because it keeps eyes off them and how they're making off with your money.

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Patriotic Millionaires @patrioticmillionaires.org · 2d

When the ultra-rich take and hoard everything at the top, and leave everyone else to compete for limited resources, it's easy to blame the people around you rather than the people above you.

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