Canadas Richest See Huge Income Gains While Bottom 50% Wages Stagnate

[Economy 52,835]

https://www.bnnbloomberg.ca/canada-s-top-1-saw-fastest-income-acceleration-overall-decrease-in-taxes-1.1321606

 

numbers collected by the 2018-2019 show that once again Canadas inequality greatly increased

 

Canadas top 1% saw income increases of 8.4%

 

Canadas bottom 50% saw income gains of only 2.4% barely above inflation. When factored in that the bottom 50% devote a higher share of income to food and housing which are the two main things where inflation was highest, for them their raises were below rise in cost of living

 

the top 0.1% saw income gains of over 17%, the top 0.01% over 27%

[FABian 852]

Liberals

The middle income champion

[LaLuna 12,732]

You know what they say, the rich keep getting richer and the poor keep getting poorer...

What a f*cked up society we live in 

[Lord Temptation 11,209]

This is happening to all Western countries, irrespective of which party is in power. This is why partisan politics only perpetuates the illusion of choice. We need more localism, less federal power and more community action. I’m so over this concept of a 24/7 globalised world. 

[Erich Johnson 2,937]

And people are worried with  black face from last decade

[FABian 852]

30 minutes ago, Economy said:

https://www.bnnbloomberg.ca/canada-s-top-1-saw-fastest-income-acceleration-overall-decrease-in-taxes-1.1321606

 

numbers collected by the 2018-2019 show that once again Canadas inequality greatly increased

 

Canadas top 1% saw income increases of 8.4%

 

Canadas bottom 50% saw income gains of only 2.4% barely above inflation. When factored in that the bottom 50% devote a higher share of income to food and housing which are the two main things where inflation was highest, for them their raises were below rise in cost of living

 

the top 0.1% saw income gains of over 17%, the top 0.01% over 27%

 

They're literally going to vote the known corrupt man Trudeau, simply because he is the BEST at virtue signaling.

Please do not vote this man back into power.

 

[Economy 52,835]

23 minutes ago, Lord Temptation said:

This is happening to all Western countries, irrespective of which party is in power. This is why partisan politics only perpetuates the illusion of choice. We need more localism, less federal power and more community action. I’m so over this concept of a 24/7 globalised world. 

Globalization has many efficiency benefits tho so i dont think that itself is a problem

 

but if ur gonna have a global economy u should gave global standards with it

 

because its so easy in the modern global economy to shift business operations, a Country can no longer tax the rich too much without loosing investment. Left wing proponents talk about how at one point taxes in the US for very wealthy were 80% to 90%. But that was a different time. It wasnt as easy to move operations overseas or have offshore accounts

 

to not have the rich move we need to stop competing for the rich. So ALL countries have to raise taxes on them so they have no where to run to but i dont see every nation ever agreeing on a global standard for taxes on high incomes

 

another economic problem is that when government taxes more and spends more, government tends to be less effective than private sector at getting things done because they stay less on top of cost overruns and efficiency like profit driven companies do. Government ends up spending more money and labor to do the same thing a private company will do

 

if a government wants to tax rich more to redistribute wealth via larger government spending abnd bigger public sector, we need governments to be more effective at investing efficiently in programs whether its infrastructure or something else

 

having a larger public sector labor force will end up reducing overall productivity than if its the private sector running more of the economy

 

to maximize public sector benefits while minimizing productivity losses that tend to come when government is in charge, governments will have to do a better job at spending efficiently

 

over staffing for example does not help the economy even tho governments tend to do that. It just means it costs more to do the same thing and some labor that could be productive elsewhere isnt

[Lord Temptation 11,209]

11 hours ago, Economy said:

Globalization has many efficiency benefits tho so i dont think that itself is a problem

 

but if ur gonna have a global economy u should gave global standards with it

 

because its so easy in the modern global economy to shift business operations, a Country can no longer tax the rich too much without loosing investment. Left wing proponents talk about how at one point taxes in the US for very wealthy were 80% to 90%. But that was a different time. It wasnt as easy to move operations overseas or have offshore accounts

 

to not have the rich move we need to stop competing for the rich. So ALL countries have to raise taxes on them so they have no where to run to but i dont see every nation ever agreeing on a global standard for taxes on high incomes

 

another economic problem is that when government taxes more and spends more, government tends to be less effective than private sector at getting things done because they stay less on top of cost overruns and efficiency like profit driven companies do. Government ends up spending more money and labor to do the same thing a private company will do

 

if a government wants to tax rich more to redistribute wealth via larger government spending abnd bigger public sector, we need governments to be more effective at investing efficiently in programs whether its infrastructure or something else

 

having a larger public sector labor force will end up reducing overall productivity than if its the private sector running more of the economy

 

to maximize public sector benefits while minimizing productivity losses that tend to come when government is in charge, governments will have to do a better job at spending efficiently

 

over staffing for example does not help the economy even tho governments tend to do that. It just means it costs more to do the same thing and some labor that could be productive elsewhere isnt

Love this. Yes I don’t hate globalisation itself, in fact the world has been global since forever, from Roman times and probably even older than that, going back to the Sumerians. 

It’s just this 24 hour economy thingy that we were not evolved to comprehend. My country Australia has been one of the world’s richest countries for the last 180 years. First with wool, then whaling, then gold, then wheat and eventually cars and other manufactured goods.

But since the collapse of the Cold War (and the internet revolution) Australia has sold all of our primary industries. So we’re still as rich as ever, but now we import almost all the essentials like food.

I believe the only way to achieve our maximum is by eliminating the consultant class of administrators and middle managers, and basically decentralise power and leadersrhip. Even if that means stripping the President, Congress, the Supreme Court of powers and the States/Provinces and handing them back to the local community. Essentially make the city-state the unit of government. Kind of like the Swiss system, or Singapore.

if we did that I guarantee that war would end overnight. And everyone could share the benefits. Nobody would be stuck doing a dead end 9-5 job. Enrepreneurialism and artisanship could replace the public servants. People will move back to the countryside.