The top one per cent of income earners have taken a disproportionate share of overall income growth over the last 30 years, in Canada and in most OECD countries, according to a study by OECD economists.
In Canada, the top percentile of earners captured about 37 per cent of total growth in the last three decades, according to an analysis of tax filings by the OECD in 28 member countries with advanced economies.
That explains why economic growth is not leading to improved incomes for the rest of us – the 99 per cent, the study found.
The Organization for Economic Co-operation and Development paper urges governments to reconsider tax policies implemented in the past 30 years that have reduced the amount paid by the wealthiest income earners, as well as providing preferential treatment for capital gains and dividends, sources of income most likely to be held by the one per cent.
Canada is second only to the U.S. in its growing inequality. In the U.S., about 47 per cent of total growth went to the wealthiest one per cent between 1975 and 2007, compared to 37 per cent in Canada, while in Australia and the U.K., about 20 per cent of growth went to the wealthiest. Full story...
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In Canada, the top percentile of earners captured about 37 per cent of total growth in the last three decades, according to an analysis of tax filings by the OECD in 28 member countries with advanced economies.
That explains why economic growth is not leading to improved incomes for the rest of us – the 99 per cent, the study found.
The Organization for Economic Co-operation and Development paper urges governments to reconsider tax policies implemented in the past 30 years that have reduced the amount paid by the wealthiest income earners, as well as providing preferential treatment for capital gains and dividends, sources of income most likely to be held by the one per cent.
Canada is second only to the U.S. in its growing inequality. In the U.S., about 47 per cent of total growth went to the wealthiest one per cent between 1975 and 2007, compared to 37 per cent in Canada, while in Australia and the U.K., about 20 per cent of growth went to the wealthiest. Full story...
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