The Rise of Canada's Richest 1%

Summary: 

This generation of rich canadians is staking claim to a larger share of economic growth than any generation that has preceded it in recorded history. An examination of income trends over the past 90 years reveals that incomes are as concentrated in the hands of the richest 1% today as they were in the Roaring Twenties.

And even then, the Canada’s elite didn’t experience as rapid a growth in their income share as has occurred in the past 20 years. Canada’s richest 1%1 — the 246,000 privileged few whose average income is $405,000 — took almost a third (32%) of all growth in incomes in the fastest growing decade in this generation, 1997 to 2007.

 

Publication date: 
Dec 2010
Author: 
Armine Yalnizyan
Publisher: 
Canadian Centre for Policy Alternatives
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