Top 1% lose share of Canada’s total wealth

The rich get poorer by comparison

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OTTAWA – Statistics Canada says the wealthiest Canadians lost ground to the other 99 per cent.

New data released by the agency says Canada’s top one-per-cent of earners saw their share of the country’s overall income drop to a six-year low in 2012.

Statistics Canada found the super-rich held 10.3 per cent of total earnings in 2012 — a drop from the historical peak of 12.1 per cent in 2006.

To qualify for the exclusive club, the agency says an individual’s 2012 income had to be at least $215,700.

The report says Canada’s situation differs from the United States, where the top one-per-cent saw their income share rise over the same six-year period — from 18 to 19.3 per cent.

The data also shows the percentage of Canadian women among the top one-per-cent earners in 2012 was nearly double what it was in 1982.

The agency says women made up more than one-in-five of the ranks of Canada’s super-wealthy in 2012.

One comment on “Top 1% lose share of Canada’s total wealth

  1. I guess then as a 2%er I did well as I am up in value. But I shifted investments outside of Canada and now have far much more invested outside of Canada than ever before. Canadian returns on average have been negative. In terms of USD or Yuan, more stable WORLD currencies, Canada not only lost on TSX averages, also got a major hit with devalued money. People need to stop thinking of fiat money having immutable value. Sad fact is with govmint buying its own debts fraud, this devalues money fast. Money is depreciating like autos. Now takes $1.13.6 (1.00/0.89) to buy the same goods as when CAD was at par….. But hey, thats depreciating money.

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