According to a recent poll conducted by Ekos Research, 69% of Canadians support a wealth tax of 2% on personal assets above $50 million and 3% on assets above $1 billion.
Below is a snapshot of the polling results shared by Ekos Research President and Founder Frank Graves.
A wealth tax has recently gained momentum in the US. Democratic Presidential primary candidate Elizabeth Warren has made it a central part of her plan to reduce inequality.
The idea has widespread support. 61% of Americans say they support a 2% on personal assets above $50 million and 3% on assets above $1 billion. That’s only 8% lower than in Canada.
A wealth tax is even supported by a majority of Republicans. 50% of Republicans support the idea compared to 23% who oppose it.
While America continues to debate the merits of a wealth tax, Canada currently has no such debate. No major political party is proposing any policy like this, even though Canadians overwhelmingly support it.
The Canadian Centre for Policy Alternatives estimates that a wealth tax of 1% on the net wealth of the top 10% of households could generate $12 billion annually for the Canadian government.