Canada’s Patriotic Millionaires Call for Higher Taxes on the Rich

A group of wealthy Canadians is urging the federal government to raise taxes—on them. Calling themselves “Patriotic Millionaires Canada,” the newly formed group says it’s time for those with the most to pay more to help address the country’s growing wealth inequality.

Inspired by similar campaigns in the U.S. and U.K., the group argues that Canada’s tax system unfairly favours the ultra-rich, allowing capital gains, investments, and dividends to be taxed more lightly than employment income. Their message: they can afford more, and they should be contributing more.

“We’re Not Paying Our Fair Share”

Claire Trottier, a philanthropist and businesswoman from Montreal, is chairing the Canadian chapter of the movement. She says the idea is simple: the richest Canadians are benefiting the most from the country’s economy and should be contributing more to support it.

“We want to change the narrative,” said Trottier. “It’s not about charity. It’s about fairness.”

Tech entrepreneur Avi Bryant, who made his fortune after selling his company to Twitter, agrees. He now lives on Galiano Island, B.C., and says social services and fair taxation make Canada a better place to live—and a better place to build businesses.

Capital Gains Tax in the Crosshairs

One of the group’s main goals is to push for reforms to capital gains taxation. In 2024, the federal government proposed changes to increase the inclusion rate for capital gains—but later cancelled the policy after political and business backlash. Patriotic Millionaires Canada wants those changes brought back and expanded.

“People earning paycheques are taxed more consistently than people making millions from investments,” said Sabina Vohra-Miller, another member of the group. “That’s a structural issue.”

The group plans to lobby MPs, influence future budget proposals, and push Canada—host of the 2025 G7 Summit—to lead global discussions on taxing the wealthy.

Critics Warn of Risk to Investment, Innovation

Not everyone supports the idea. John Ruffolo, a prominent venture capitalist, says hiking taxes on the rich could chase away capital and entrepreneurs.

“If the message is ‘we don’t want wealth or investment here,’ people will leave,” he said. Ruffolo believes in philanthropy over taxation, arguing wealthy individuals should choose where their money goes.

Others, like tax law professor David Duff, say the economic panic is overblown. Duff argues that while higher taxes may not produce massive revenue, they send a strong message about fairness.

Is Donation Enough?

The debate touches on a deeper question: should wealthy Canadians voluntarily donate more—or should the system require them to contribute?

Trottier, who already donates through her family foundation, says that’s not enough. “Voluntary giving doesn’t replace the democratic power of collective taxation,” she said.

Growing Inequality in Canada

Statistics Canada reports that income inequality is at a record high, largely due to massive investment gains by Canada’s wealthiest. The disposable income gap between the richest and poorest households is now the widest since records began in 1999.

For Trottier and her fellow millionaires, that’s reason enough to act.

“Are we going to sit by and let wealth inequality keep growing?” she asked. “Or are we going to take responsibility and use our voices—and our wallets—to fix it?”

Should Canada tax its richest citizens more to reduce inequality—or would that backfire? Let us know what you think.

More…

• https://www.cbc.ca/news/business/patriotic-millionaires-canada-taxes-1.7530936
• https://www.reddit.com/r/canada/comments/1kjx55k/these_canadian_millionaires_are_asking_for_tax