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While the incomes of Canada's wealthiest are increasing, the absolute wealth of our poorest is decreasing. As this gap grows, so too do the differences in people's health risks, care and outcome. The poorer people are in Ontario, the more likely they are to have shorter lifespans, to be overdue for screening tests and to suffer from multiple chronic health conditions.
Companies operating in Canada in 2014 held over $199 billion in "assets" -- unpaid taxes -- in havens like Barbados and the Cayman Islands. Canada is one of the biggest "losers" of corporate tax revenue. The "winner" countries are the ones with low-to-none corporate income tax, such as Bermuda, as well as the super-rich.
Canada’s top one per cent of earners took home 10.6 per cent of all income in the country in 2011, while the top half of earners took home 83 per cent of all the money earned, new data from StatsCan s...
If you are reading this article, you are surely one of the One Percent™. After all, technology only accrues to the world's wealthiest, right? If the message of Elysium were true, then yes. But it's not. As anyone who has given this more than a moment's thought realizes, technology isn't something simply the wealthy enjoy.
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."