Canada’s rich still getting richer: OECD.

[abc]

Canada’s rich still getting richer: OECD

Eric Lam Dec 5, 2011

The wage gap between the top and bottom income earners in Canada is
widening, largely due to tax policies, a new report from the Organization
for Economic Co-operation and Development said Monday.

The report found that the top 10% of Canadians in 2008 earned $103,500 on
average, 10 times higher than the bottom 10%, who made an average of
$10,260.

This is up from a ratio of 8 to 1 in the early 1990s.

The top 1% of Canadians, meanwhile, saw their share of the country’s
total income increase to 13.3% in 2007 from only 8.1% in 1980.

And the very richest of Canadians, the top 0.1%, had their share of
income more than double, to 5.3% from 2%.

The results suggest Canada needs to update its tax policies as taxes and
tax benefits in particular have become ineffective in wage
redistribution, the OECD said.

“The growing share of income going to top earners means that this group
now has a greater capacity to pay taxes,” the report said. “In this
context governments may re-examine the redistributive role of taxation to
ensure that wealthier individuals contribute their fair share.”

The top federal marginal income tax rates declined markedly in the past
30 years, falling to 29% in 2010 compared with 43% in 1981.

As well, tax benefits now only offset less than 40% of wage inequality,
compared with more than 70% before the mid-1990s.

“Taxes and benefits reduce inequality less in Canada than in most OECD
countries,” the report said. “Benefit rates fell and benefits became less
targeted. Changes in income tax rates played less of a role.”

Other factors driving this inequality include a rise in self-employment,
greater disparity in male wages (more women in the workforce helped
offset this) and low-wage workers losing hours at a greater pace than
higher-wage workers.

The report recommends creation of more and better-paying jobs through
investments in education at the childhood level as well as incentives for
workers and employers to encourage skills investments throughout working
life.

[Canuck57]

On 05/12/2011 8:37 AM, abc wrote:
>
> Canada’s rich still getting richer: OECD

But still poorer than most OEDC countries in household wealth.

> Eric Lam Dec 5, 2011
>
> The wage gap between the top and bottom income earners in Canada is
> widening, largely due to tax policies, a new report from the Organization
> for Economic Co-operation and Development said Monday.

Funny, those top 10% pay 80% of the income taxes.

> The report found that the top 10% of Canadians in 2008 earned $103,500 on
> average, 10 times higher than the bottom 10%, who made an average of
> $10,260.

No full time worker makes $10K. Counting part timers?

> This is up from a ratio of 8 to 1 in the early 1990s.

Probably will grow too.

> The top 1% of Canadians, meanwhile, saw their share of the country’s
> total income increase to 13.3% in 2007 from only 8.1% in 1980.

Yep, money is attracted to those that know how to manage it. Too many
liberally raised kids don't know about conservative economic values.
Hazards of a liberal run school system designed to make good future dumb
debt-tax slaves. Don't want the new citizens to understand economics or
they might question government finances and spending.

> And the very richest of Canadians, the top 0.1%, had their share of
> income more than double, to 5.3% from 2%.

Not true, but you can believe your bullshit. Rich and income are two
different things. Hate to bust your fleabagger water but I am a 1%er in
self made wealth and can tell you that you are full of shit.

> The results suggest Canada needs to update its tax policies as taxes and
> tax benefits in particular have become ineffective in wage
> redistribution, the OECD said.

OECD is a political bullshit organization anyway. Primary purpose is to
give the perception that big fat ineffective expensive government is
required. Sort of like a solution selling a problem that doesn't exist.

What keeps people down is their own government. Government likes it has
it makes people work hard and pay lots of taxes.

> “The growing share of income going to top earners means that this group
> now has a greater capacity to pay taxes,” the report said. “In this
> context governments may re-examine the redistributive role of taxation to
> ensure that wealthier individuals contribute their fair share.”

Funny, and they are moving out. I prefer wealth confiscation and
government consumption of wealth. Redistribution is always one way,
government gets 75% for stuff that is not available for all Canadians.
Just a corrupt pork fest.

Because everyone in Canada pays for the big inefficient over taxing
Ottawa government. If a disabled or vet on $1-50/month income needs a
down filled winter jacket, they spend $350 for a jack that is $150 in
the US that is made in India for $40. The difference in prices is
mostly taxes and tax created inflation.

Most people in Canada have no clue on how hard they are tax screwed from
Ottawa greed. But more are becoming aware.

> The top federal marginal income tax rates declined markedly in the past
> 30 years, falling to 29% in 2010 compared with 43% in 1981.

Ask yourself this, what is the maximum tax liability from all sources
that a person has? What part of a persons wages should they be
guaranteed full value of without the greedy government tax grabs hidden
and real combined?

If you work, if you make more than $45K a year, own home and no kids,
pretty good change you are taxed well past 50% and possibly 60% from all
sources of direct and indirect taxation. Even your dental hygienist
charges more because of greedy government taxation (taxation as inflation).

Trouble is this makes us uncompetitive in the world and why
manufacturing is dying, our base society costs are too high for us to
compete.

> As well, tax benefits now only offset less than 40% of wage inequality,
> compared with more than 70% before the mid-1990s.

Funny, a G12 dropout jail bird wants the same salary as a heart surgeon.

Touch shit for the G12 drop out. Time they face facts, get some needed
skills or do without. It isn't liberalism at home feel good bullshit in
the real world, grow up.

> Other factors driving this inequality include a rise in self-employment,
> greater disparity in male wages (more women in the workforce helped
> offset this) and low-wage workers losing hours at a greater pace than
> higher-wage workers.

Get some skills solves the wage problem. Do something for other people
they want and they will pay. If people expect not to invest in
themselves, then they are a lower value commodity.

Hey, bet they don't teach that in liberal/union feel good G12. But once
out of the school system reality, like it or not is going to hit them
straight in the face. And for many, suicide, drugs, dysfunctional
behaviors set in making them a liability to society. Just another punk
looking for a free lunch, and not worth minimum wage.

> The report recommends creation of more and better-paying jobs through
> investments in education at the childhood level as well as incentives for
> workers and employers to encourage skills investments throughout working
> life.

First good thing said. But G12 is about raising good debt-tax sheeples.
What is good for the individual is not even in the top 5 objectives of
the G12 system. Ra-ra government is always good, more taxes is good,
all to make you good compliant sheeples.

Of all the truly successful people I know, not a one waited nor depended
on government. Government is designed to hold you back and manage
people like herd animals.

--
All successful people have one thing in common, if even for a moment
they think rationally.

[Uncle Steve]

And religion. Don't forget that big-C conservatives are big on
religion, to the point where they want the government to support and
even enforce it. With taxpayer money, of course. Which is not to say
that Liberals don't like religion, mainly for its values hypocricy,
but it's the Conservatives who will enact policies (if they can) that
directly promote their idiot religious values. And they do.


Regards,

Uncle Steve

--
We can't all be intelligent, but at least we can be polite.
-- H. J. Paton, "The Modern Predicament"