If wealth taxes are implemented in Canada, how do you think it will affect real estate prices?
I image the amount of rich immigrant choosing Canada as a destination will drastically decline if this happens. Not to mention the amount of rich investors that will leave Canada.
I don't imagine wealth tax will actually get implemented now. However, this is one danger of living in a increasing unequal society. If you let wealth inequality become too great, eventually some form of political revolution (peaceful or not) will happen, be that wealth taxes or UBI.