The hashtag #taxtherich is popular and easy to say.  In the vision of several well-respected American politicians, every billionaire is a result of a failed policy.  They view extreme wealth as a problem to be solved.

There is a circular relationship between billionaires and large corporations, in that they tend to create each other. So, the lot of the seem to be described in the same terms.

In Canada one political party has picked up this philosophy and enshrined the goal to abolish billionaires as a part of their official platform.

I am sure that there is room to increase taxes on the rich in Canada.  More importantly, to close tax loopholes.  Although, I am personally cynical that governments can successfully outsmart those billionaires and their corporate cousins. 

In certain circles there is a sense of disdain for the ultra wealthy. Large corporations and billionaires tend to be described as the villains of a fair and just society.  These allegations are no doubt occasionally justified.

However, here is a counter argument.  Amongst Canada’s 47 billionaires there are, no doubt, descendants of families that brought us tires, groceries, newspapers and much more.  Some are upset that e-Commerce and tech giants made money during the pandemic, while others acknowledge that their services helped the world survive. 

Those 47 billionaires and the 1.3 million millionaires in Canada could no doubt easily fund at least half of the 3.5 billion needed for a national pharma care program, for example, without undue suffering.

But wait, do all Canadians have the right attitude about our wealthy fellow citizens?

The other side of the coin is that entrepreneurs, billionaires, millionaires, large corporations, private business owners and the like have provided millions of well-paying middle-class jobs.  And the resulting middle-class is a key measure of Canadian prosperity and quality of life. Even the lower middle-class wages paid by some businesses are a welcome reprieve from the curse of poverty.

Look up and down your street.  Probably, not a bad sight by big world standards.  I am fairly certain that you do not have a billionaire living on your street.  Maybe some millionaires.  But for sure, a fair measure of the good life that you see came from employment.  And that employment came from somewhere.

Can you draw a line from any small or large portion of your own livelihood, be it ever so modest, to any wealthy Canadian past or present?  

So, is Canada’s problem that we have too many billionaires, millionaires, successful corporations, and private businesses, or do we have two few?  Are our corporations and businesses generating too much profit, or too little?  You decide based upon your own experience and what you know about the bigger world.

In 1986, Canadian prime minister Brian Mulrooney said that “Canada needs more millionaires”.  When I read the article, I joked that I would willing to become one, and what is the number to call to volunteer. 

But really; most of us know that wealth is hazardous to family, spiritual and other aspects of life.  One beloved pastor said, “It takes a steady hand to hold a full cup.”  Nonetheless, as much as we need to respect our water, air, and food sources, we need to respect the headwaters of Canadian prosperity.  And honour those who have obtained prosperity for themselves while creating prosperity for others.

So, for my two cents, by all means #taxtherich.  But someone should also #becometherich and #emulatetherich. And every Canadian should #thanktherich.

Have a blessed day.