With growing demands that governments must increase taxes on the rich, there's a strong possibility that some participants at the upcoming G20 finance ministers meeting in Washington will take aim at the banks with renewed calls for new taxes. Yet Canada already has a bank tax in place.
Following an awareness breakthrough in 2011, public support and political interest for addressing inequality is apparent. But what is to be done? The more effective option for combating inequality is for governments to, first, rebuild greater fairness into our systems of taxation and, second, increase the distribution of income from the "top" to the "bottom."