Trudeau says he can’t go “against the successful and wealthy”

Today, Justin Trudeau was asked about the NDP’s wealth tax and other measures to raise revenue from the richest and big corporations.

The PBO has estimated that a 1% tax on fortunes over $10 million would bring in around $11 billion every year - even after taking into account the anticipated “behavioural response” of people attempting to avoid the tax.

Trudeau accused the NDP of going “with unlimited zeal against the successful and wealthy in this country” and said that increasing their taxes “reaches its limit.”

But the PBO has also estimated that Canada misses out on $25 billion each year to corporate tax avoidance – which Justin Trudeau hasn’t even tried to combat.

Jagmeet responded in Sudbury today:

“I’m not surprised that Trudeau said ‘oh, limit your hopes and aspirations around making sure that billionaires pay their fair share.’ I’ve long been saying he’s been defending the super-rich. He’s on the side of the billionaires. That’s just more evidence of it. I don’t buy it.

“We don’t accept that we have to keep going down this path where the burden falls more and more on you and your families. Why should it? What should happen is that the billionaires, the wealthiest corporations, the Amazons of this world, should be paying their fair share. We believe in that. And we’re not afraid of the fact it might be hard to do. We believe that it’s the right thing to do. And we’re going to make it happen.”