Maclean’s October cover story, written by the sharp-witted Katrina Onstad, has touched a nerve. More than 100,000 readers flocked to the piece last week when it was published. They wanted to see what everybody was talking about.
The story, called “The Jackpot Generation,” explores the consequences of the greatest generational wealth transfer in Canadian history, as an estimated $1 trillion moves from baby boomers to their heirs in the next few years. It’s about the complex intergenerational dynamics of passing down a small fortune and the social consequences of an inheritance-based economy. Onstad writes, “Canada’s 20th century was built on the dream of mobility via meritocracy. But if inheritance determines who succeeds and who doesn’t, the downstream effects for Canada could be devastating.”
One reader posted on X (formerly Twitter) that the story makes a great case for the implementation of a steep inheritance tax. But I suspect many boomer readers came to the story to figure out how to pass down hundreds of thousands of dollars to their offspring without creating unnecessary problems. In any case, the best way to avoid missing these big pieces is to buy an annual Maclean’s print subscription for just $39.99. Your subscription fee will support great journalism like Onstad’s and help fund our next buzzy cover story.
—Sarah Fulford, editor-in-chief
