The 1% get richer

The median income of Canada’s richest 1% is now 10 times higher than the median for everybody else.

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Commerce, Toronto, Ontario, Canada

  • The top 1% of the country’s 25.5 million tax filers accounted for 10.6% of the nation’s total income in 2010, according to a new report by Statistics Canada. So how much does someone in the 1% make? At least $201,400 a year. That’s up 37% from the minimum $147,500 this upper crust would’ve needed to earn to be counted in 1982 when StatsCan first began tracking the data. Median incomes for the 1% actually come in around the $280,000 mark. But if it’s any consolation, the 1% are also paying more tax these days than they were three decades ago.
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One comment on “The 1% get richer

  1. I wonder how much of this is due to the boomer effect (i.e. there is a glut of working boomers in Canada, and people 50+ tend to make more than those people much earlier in their careers).

    Reply

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