Canuck Nepo Baby Billionaires: Canadians for Tax Fairness

Hey Chris, Canada’s most infamous nepo baby, Galen Weston Jr., is in the news again as Loblaw finally begins paying millions of Canadians restitution for over fourteen years of fixing the price of bread. Experts estimate that this coordinated theft cost typical Canadian families over $400. And yet, Loblaw is paying out between $24 and $49 to affected families — and doing it over a decade after the fact. So as a team, we've got nepo babies on the brain. Take Weston, who inherited an entire empire and has amassed over $20 billion in personal wealth. Or the Thomson family, who have hoarded a horrifying $93 billion. Chris, not only are Canadian billionaires accumulating obscene fortunes while millions of us are stretched and struggling, but Canada is the only G7 country without an inheritance tax.

That’s why C4TF has our sights set on an NBT – a Nepo Baby Tax – as we work on developing a new report on inheritance taxes (or lack thereof) in Canada. There are multiple ways to tax the ultra-wealthy: shutting down tax havens, closing the capital gains loophole, and, of course, a good old-fashioned wealth tax. We want to add a nepo baby tax to that list, but we need to crunch the numbers first.  That’s where you come in. We aren’t running on daddy’s crookedly-acquired inheritance. Instead, we rely on the might of the many to fund our research, strategy, and advocacy. When we come together, we can ensure that Canada's wealth makes life better for everyone, instead of being sucked up by a few greedy families. If you’re able, please donate now to fund our work!

Fund our nepo baby research!

In solidarity, The C4TF team

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