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Getbig Main Boards => Politics and Political Issues Board => Topic started by: WOOO on December 11, 2012, 06:33:03 PM
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We like it and want more of it... oh and our household incomes are higher than yours...
http://www.thestar.com/business/article/1300773--canadian-income-gap-may-be-more-real-than-data-suggests-bank-report (http://www.thestar.com/business/article/1300773--canadian-income-gap-may-be-more-real-than-data-suggests-bank-report)
Canadian income gap may be more real than data suggests: Bank report
Published on Tuesday December 11, 2012
Dana Flavelle
Business Reporter
The gap between rich and poor in Canada hasn’t changed in more than two decades, a new report says. Those findings surprised even its authors, a group of economists at TD Bank, given the growing public outcry over income inequality.
“We were very surprised to discover that according to the benchmark used for measuring income inequality there hasn’t been an increase since 1998,” TD chief economist Craig Alexander said in an interview Tuesday.
“So, the natural question is, if we have all these increasing concerns about income inequality, why isn’t the traditional benchmark showing it?”
The report, Income and Income Inequality: A Tale of Two Countries, found income inequality is worse in the U.S. than in Canada and has been rising faster since 1998.
Indeed, after lagging behind the U.S. for years, median household incomes in Canada were 10 per cent higher than in the U.S. — at $55,000 a year — by 2011, the report found. (Median means half of households earned more and half earned less. It’s a more accurate measure than average because it eliminates the extreme highs and lows.)
For most of the past two decades, there has been a sizeable gap in median incomes between Canadian and U.S. families. At its peak in 1998, U.S. income was 10 per cent higher than in Canada.
Since then, U.S. incomes have suffered in the wake of two recessions, including the “devastating impact” of the 2008 financial crisis, and have declined fairly steadily to a 16-year low in 2011.
Meanwhile, the solid pace of household income growth here since 1997 had created that Canadian income advantage by 2010.
Despite the report’s findings that income inequality in Canada has remained unchanged since 1998, Alexander said the gap still exists and is a problem.
“I’m not saying we don’t have income inequality in Canada and that inequality isn’t a problem. What I’m saying is income inequality surprisingly — it was an absolutely stunner to me that in actual fact — since 1998 hasn’t risen,” he said in an interview.
The real problem, he suggests, is the very low incomes of the lowest fifth of Canadian households.
Even though their incomes rose 20 per cent over the period, they gained a meager $2,500 a year, for a total income of $15,200 per household, Alexander noted.
They benefitted from rising minimum wage rates and a rebound in government transfer programs over the period.
Meanwhile, the highest fifth of Canadian households saw their median income rise 18 per cent, or $26,700, to $171,900 a year, he said, as public sector employment rose.
Middle class families didn’t fare as well, gaining just 14 per cent, for a median household income of $55,000 a year, he said, as good-paying manufacturing jobs disappeared.
As well, the highest 1 per cent of Canadian households now account for 14 per cent of all income, up from 11 per cent in the 1980s, he said, so a gap at the highest level is widening.
Part of the problem is the way income inequality is measured. It doesn’t take into account wealth, for example.
“When you think of perceptions of income inequality, what do you think about? The mansions, the sports cars and jewelry. What you’re seeing is the difference in wealth, not income,” Alexander said.
Canada’s most populous province, Ontario, gained the least over the period under study.
The study’s findings have important policy implications, Alexander noted.
For example, one reason household debt loads may be so high is that middle class incomes have failed to keep up with economic growth, causing more families to borrow to finance purchases.
As well, lower-income Canadians need more help overcoming barriers to economic success, he said, noting early childhood education would help.
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Its a BS study written by commy libs
Canada is a terrible place
Full of Pink-o O-thug wanna be's.
People are taxed into poverty
People die waiting for medical care
its better we pay more for brand name pills while you guys pay less for generics because we don't wanna allow actual competition to help drive prices down so we will create a campaigns to scare people into not voting for cheaper drugs by convincing them cheaper drugs will turn them into O-thugs.
You guys are all communists.
AND.....
Your brand of football sucks, i mean really the offense can score a point if they catch a punt in the end zone? You guys are weak.
this all makes perfect sense so don't fuck with me, i make 800 billion dollars a year and have a 400 IQ.
:D ;D j/k
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nice to see you crying from underneath my wallet
8)
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Canada economy is far far far far far smaller than USA's
It is far far far poorer country.
It also benefits from 0 defense budget due to its proximity to USA.
USA should slap import taxes on canada to pay for our military externality benefits.
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Canada economy is far far far far far smaller than USA's
It is far far far poorer country.
It also benefits from 0 defense budget due to its proximity to USA.
USA should slap import taxes on canada to pay for our military externality benefits.
NAFTA is fucking you in the ass now
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Meanwhile, back at ranch, thousands of Canadians solidify their plans to migrate to the greatest country in the history of mankind (yes, the U.S.).
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nice to see you crying from underneath my wallet
8)
Don't get me wrong. I have many ties in Canada and visit Toronto often. I like the place and i think it's system works well for Canada.
I was just parroting the typical brainless attacks on a system that is working, a system that didn't fall into the toxic trappings of mortgage hedging.
But good thing Buffalo shopping is a short drive away along with real football. :D
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damn straight...
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NAFTA is fucking you in the ass now
how?
I think we could just give 100B bill to canada.....I mean we perform defense for them...
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I've had some good times in Toronto, nice, clean etc. Reminded me a lot of Chicago. Montreal was cool as well.
Although I hear Vancouver is where it's at. I also love Rush.
Whatever Canada is doing seems to be working for Canada, good for them. It's also a much, much smaller nation, population wise, than the U.S. Much different political system and all that jazz.
I'm a big fan of Labatt Blue, $8.49 for a 12 pack, gotta love that exchange rate.
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Let's assume this study is accurate and correctly reflects what is happening. I have no idea if it is or not, but I'm willing to give it the benefit of the doubt. I have just two simple questions: after more than two decades of hardships on the path to equalization, why is everything still unequal and just how it was 20 years ago? How much longer will it take and how many more sacrifices must be made for true equality to finally happen in Canada?
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I've had some good times in Toronto, nice, clean etc. Reminded me a lot of Chicago. Montreal was cool as well.
Although I hear Vancouver is where it's at. I also love Rush.
Whatever Canada is doing seems to be working for Canada, good for them. It's also a much, much smaller nation, population wise, than the U.S. Much different political system and all that jazz.
I'm a big fan of Labatt Blue, $8.49 for a 12 pack, gotta love that exchange rate.
nothing to do with the exchange rate (canadian dollar is worth more than the US$ today)... alcohol is highly taxed in canada as is tobacco
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It's nice to have a small population and natural resources (oil) out the ass. So that's one example of it working and countless examples of it not working.
Sick thread....will read again. ::)
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nothing to do with the exchange rate (canadian dollar is worth more than the US$ today)... alcohol is highly taxed in canada as is tobacco
Actually it's basically a one to one exchange rate
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nothing to do with the exchange rate (canadian dollar is worth more than the US$ today)... alcohol is highly taxed in canada as is tobacco
I don't give a shit. I still will pick up a 12 pack every time I'm at the grocery store.
Good stuff.
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Meanwhile, back at ranch, thousands of Canadians solidify their plans to migrate to the greatest country in the history of mankind (yes, the U.S.).
I thought the US was a commie dictatorship now ???
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Its a BS study written by commy libs
Canada is a terrible place
Full of Pink-o O-thug wanna be's.
People are taxed into poverty
People die waiting for medical care
its better we pay more for brand name pills while you guys pay less for generics because we don't wanna allow actual competition to help drive prices down so we will create a campaigns to scare people into not voting for cheaper drugs by convincing them cheaper drugs will turn them into O-thugs.
You guys are all communists.
AND.....
Your brand of football sucks, i mean really the offense can score a point if they catch a punt in the end zone? You guys are weak.
this all makes perfect sense so don't fuck with me, i make 800 billion dollars a year and have a 400 IQ.
:D ;D j/k
no they don't. they come here.
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We like it and want more of it... oh and our household incomes are higher than yours...
http://www.thestar.com/business/article/1300773--canadian-income-gap-may-be-more-real-than-data-suggests-bank-report (http://www.thestar.com/business/article/1300773--canadian-income-gap-may-be-more-real-than-data-suggests-bank-report)
Canadian income gap may be more real than data suggests: Bank report
Published on Tuesday December 11, 2012
Dana Flavelle
Business Reporter
The gap between rich and poor in Canada hasn’t changed in more than two decades, a new report says. Those findings surprised even its authors, a group of economists at TD Bank, given the growing public outcry over income inequality.
“We were very surprised to discover that according to the benchmark used for measuring income inequality there hasn’t been an increase since 1998,” TD chief economist Craig Alexander said in an interview Tuesday.
“So, the natural question is, if we have all these increasing concerns about income inequality, why isn’t the traditional benchmark showing it?”
The report, Income and Income Inequality: A Tale of Two Countries, found income inequality is worse in the U.S. than in Canada and has been rising faster since 1998.
Indeed, after lagging behind the U.S. for years, median household incomes in Canada were 10 per cent higher than in the U.S. — at $55,000 a year — by 2011, the report found. (Median means half of households earned more and half earned less. It’s a more accurate measure than average because it eliminates the extreme highs and lows.)
For most of the past two decades, there has been a sizeable gap in median incomes between Canadian and U.S. families. At its peak in 1998, U.S. income was 10 per cent higher than in Canada.
Since then, U.S. incomes have suffered in the wake of two recessions, including the “devastating impact” of the 2008 financial crisis, and have declined fairly steadily to a 16-year low in 2011.
Meanwhile, the solid pace of household income growth here since 1997 had created that Canadian income advantage by 2010.
Despite the report’s findings that income inequality in Canada has remained unchanged since 1998, Alexander said the gap still exists and is a problem.
“I’m not saying we don’t have income inequality in Canada and that inequality isn’t a problem. What I’m saying is income inequality surprisingly — it was an absolutely stunner to me that in actual fact — since 1998 hasn’t risen,” he said in an interview.
The real problem, he suggests, is the very low incomes of the lowest fifth of Canadian households.
Even though their incomes rose 20 per cent over the period, they gained a meager $2,500 a year, for a total income of $15,200 per household, Alexander noted.
They benefitted from rising minimum wage rates and a rebound in government transfer programs over the period.
Meanwhile, the highest fifth of Canadian households saw their median income rise 18 per cent, or $26,700, to $171,900 a year, he said, as public sector employment rose.
Middle class families didn’t fare as well, gaining just 14 per cent, for a median household income of $55,000 a year, he said, as good-paying manufacturing jobs disappeared.
As well, the highest 1 per cent of Canadian households now account for 14 per cent of all income, up from 11 per cent in the 1980s, he said, so a gap at the highest level is widening.
Part of the problem is the way income inequality is measured. It doesn’t take into account wealth, for example.
“When you think of perceptions of income inequality, what do you think about? The mansions, the sports cars and jewelry. What you’re seeing is the difference in wealth, not income,” Alexander said.
Canada’s most populous province, Ontario, gained the least over the period under study.
The study’s findings have important policy implications, Alexander noted.
For example, one reason household debt loads may be so high is that middle class incomes have failed to keep up with economic growth, causing more families to borrow to finance purchases.
As well, lower-income Canadians need more help overcoming barriers to economic success, he said, noting early childhood education would help.
[/quot
Obama wants to mirror Europe, sucks up to communist leaders and I'm sure he's sending get well cards to Chavez. All though you have shitty HC and pay 50% in taxes, you seem to like it. That being said....stay there.
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coach you need webboard lessons
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I thought the US was a commie dictatorship now ???
Why would you think that?
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Why would you think that?
33, Coach etc has been telling me its coming for as long as i have been a GB member.
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Canada seems to have everything in control. Im impressed actually. If it wasnt so cold I might live there. 8)
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Canada seems to have everything in control. Im impressed actually. If it wasnt so cold I might live there. 8)
Yes they have a lot of control of people's income. About 50 percent for a lot of them.
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Its a BS study written by commy libs
Canada is a terrible place
Full of Pink-o O-thug wanna be's.
People are taxed into poverty
People die waiting for medical care
its better we pay more for brand name pills while you guys pay less for generics because we don't wanna allow actual competition to help drive prices down so we will create a campaigns to scare people into not voting for cheaper drugs by convincing them cheaper drugs will turn them into O-thugs.
You guys are all communists.
AND.....
Your brand of football sucks, i mean really the offense can score a point if they catch a punt in the end zone? You guys are weak.
this all makes perfect sense so don't fuck with me, i make 800 billion dollars a year and have a 400 IQ.
:D ;D j/k
pink-o-thug lol ;D
-
We like it and want more of it... oh and our household incomes are higher than yours...
http://www.thestar.com/business/article/1300773--canadian-income-gap-may-be-more-real-than-data-suggests-bank-report (http://www.thestar.com/business/article/1300773--canadian-income-gap-may-be-more-real-than-data-suggests-bank-report)
Canadian income gap may be more real than data suggests: Bank report
Published on Tuesday December 11, 2012
Dana Flavelle
Business Reporter
The gap between rich and poor in Canada hasn’t changed in more than two decades, a new report says. Those findings surprised even its authors, a group of economists at TD Bank, given the growing public outcry over income inequality.
“We were very surprised to discover that according to the benchmark used for measuring income inequality there hasn’t been an increase since 1998,” TD chief economist Craig Alexander said in an interview Tuesday.
“So, the natural question is, if we have all these increasing concerns about income inequality, why isn’t the traditional benchmark showing it?”
The report, Income and Income Inequality: A Tale of Two Countries, found income inequality is worse in the U.S. than in Canada and has been rising faster since 1998.
Indeed, after lagging behind the U.S. for years, median household incomes in Canada were 10 per cent higher than in the U.S. — at $55,000 a year — by 2011, the report found. (Median means half of households earned more and half earned less. It’s a more accurate measure than average because it eliminates the extreme highs and lows.)
For most of the past two decades, there has been a sizeable gap in median incomes between Canadian and U.S. families. At its peak in 1998, U.S. income was 10 per cent higher than in Canada.
Since then, U.S. incomes have suffered in the wake of two recessions, including the “devastating impact” of the 2008 financial crisis, and have declined fairly steadily to a 16-year low in 2011.
Meanwhile, the solid pace of household income growth here since 1997 had created that Canadian income advantage by 2010.
Despite the report’s findings that income inequality in Canada has remained unchanged since 1998, Alexander said the gap still exists and is a problem.
“I’m not saying we don’t have income inequality in Canada and that inequality isn’t a problem. What I’m saying is income inequality surprisingly — it was an absolutely stunner to me that in actual fact — since 1998 hasn’t risen,” he said in an interview.
The real problem, he suggests, is the very low incomes of the lowest fifth of Canadian households.
Even though their incomes rose 20 per cent over the period, they gained a meager $2,500 a year, for a total income of $15,200 per household, Alexander noted.
They benefitted from rising minimum wage rates and a rebound in government transfer programs over the period.
Meanwhile, the highest fifth of Canadian households saw their median income rise 18 per cent, or $26,700, to $171,900 a year, he said, as public sector employment rose.
Middle class families didn’t fare as well, gaining just 14 per cent, for a median household income of $55,000 a year, he said, as good-paying manufacturing jobs disappeared.
As well, the highest 1 per cent of Canadian households now account for 14 per cent of all income, up from 11 per cent in the 1980s, he said, so a gap at the highest level is widening.
Part of the problem is the way income inequality is measured. It doesn’t take into account wealth, for example.
“When you think of perceptions of income inequality, what do you think about? The mansions, the sports cars and jewelry. What you’re seeing is the difference in wealth, not income,” Alexander said.
Canada’s most populous province, Ontario, gained the least over the period under study.
The study’s findings have important policy implications, Alexander noted.
For example, one reason household debt loads may be so high is that middle class incomes have failed to keep up with economic growth, causing more families to borrow to finance purchases.
As well, lower-income Canadians need more help overcoming barriers to economic success, he said, noting early childhood education would help.
I'm not sure why you consider universal mediocrity a good thing? Why shouldn't hardworkers and innovators be able to strive to better and set themselves apart?
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we mentioned that canad single payer going bankrupt right?
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I'm not sure why you consider universal mediocrity a good thing? Why shouldn't hardworkers and innovators be able to strive to better and set themselves apart?
you did not read the post and have been brainwashed... i am a socio-capitalist...
high minimum wage, high taxes but lots of room for rich people (paying high taxes)
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high minimum wage, high taxes but lots of room for rich people (paying high taxes)
The free market should generally determine the minimum wage. Low taxes equal small government, because individuals should govern themselves.
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you did not read the post and have been brainwashed... i am a socio-capitalist...
You eat veggies and meat too and yet don't claim to be a vege-meatean. Adopting some capitalist ideas doesn't make you a socio-capitalist. You're either a socialist or a capitalist. You can't be both anymore than you can be in both New York and Los Angeles at the same time.
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The free market should generally determine the minimum wage. Low taxes equal small government, because individuals should govern themselves.
individual american'ts are even dumber than groups of american'ts
hope this helps
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you did not read the post and have been brainwashed... i am a socio-capitalist...
high minimum wage, high taxes but lots of room for rich people (paying high taxes)
canada is somewhat capitalist but is far far poorer than usa
you have drunk the kool aid about single payer
it is going bankrupt :)
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canada is somewhat capitalist but is far far poorer than usa
you have drunk the kool aid about single payer
it is going bankrupt :)
Where do you get your info from Magic?
Im impressed. Your info is very consistent. Wrong but consistent.
http://news.investors.com/ibd-editorials/071812-618699-free-markets-not-socialism-is-why-canada-is-soaring.htm?p=full
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Where do you get your info from Magic?
Im impressed. Your info is very consistent. Wrong but consistent.
http://news.investors.com/ibd-editorials/071812-618699-free-markets-not-socialism-is-why-canada-is-soaring.htm?p=full
boom
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individual american'ts are even dumber than groups of american'ts
hope this helps
In theory it helps, but were dealing with retards in this thread.