Canada’s Wealth Gap Between Affluent & Middle Class: 2015 Study Reveals Much More Extreme Gaps

The following video (2009) presents Canada’s Growing Gap:

The income gap between the rich and the rest of us grew, in good times and in bad. Learn more about it with this video.

"Headstart - Affluent Canadian Families Have a Running Start: The wealth advantage for Canada’s affluent starts at young age. Did you know that the wealthiest Canadian families in their twenties have an average net worth of over $500,000—more than middle class families manage to save over a lifetime. If these millionaire babies stay at the top, they’ll spend the rest of their lifetime accumulating even greater wealth, leaving their middle class contemporaries behind in their gold dust. " Infographic: Headstart in the report, The Wealth Advantage: The Growing Wealth Gap Between Canada’s Affluent and the Middle Class. Infographic Courtesy of the Canadian Centre for Policy Alternatives (CCPA)
“Headstart – Affluent Canadian Families Have a Running Start: The wealth advantage for Canada’s affluent starts at young age. Did you know that the wealthiest Canadian families in their twenties have an average net worth of over $500,000—more than middle class families manage to save over a lifetime. If these millionaire babies stay at the top, they’ll spend the rest of their lifetime accumulating even greater wealth, leaving their middle class contemporaries behind in their gold dust. ” Infographic: Headstart in the report, The Wealth Advantage: The Growing Wealth Gap Between Canada’s Affluent and the Middle Class. Infographic Courtesy of the Canadian Centre for Policy Alternatives (CCPA)

The Canadian Centre for Policy Alternatives (CCPA) recently released a study, by CCPA Senior Economist David Macdonald,  The Wealth Advantage: The Growing Wealth Gap Between Canada’s Affluent and the Middle Class.

This study (pdf) is available to download for FREE on the CCPA website at https://www.policyalternatives.ca/wealth-advantage .

For more information, please contact Kerri-Anne Finn, CCPA Senior Communications Officer, at 613-563-1341 x306.

NEWS RELEASE

Wealth advantage for Canada’s affluent starts at young age: study

June 25, 2015

OTTAWA—The wealth advantage for Canada’s affluent starts at a young age, says a study released today by the Canadian Centre for Policy Alternatives (CCPA).

The study, by CCPA Senior Economist David Macdonald, dives into 13 years of Statistics Canada data to track changes in wealth between Canada’s wealthiest families and those families in the middle of the wealth spectrum while adjusting for age. It is a study in contrasts: the wealth gap between Canada’s affluent and middle class is not only growing, the benefits for the most affluent start early in life.  Breaking out wealth by age reveals much more extreme gaps than are visible when all ages are mixed together. Continue reading “Canada’s Wealth Gap Between Affluent & Middle Class: 2015 Study Reveals Much More Extreme Gaps”

You’re Invited: Equity Literacy Forum- Towards a Classism Reduction Strategy for Ontario Oct.29, 2014

This video presents Classism in Canada.

  • Classism and poverty in British Columbia and Canada.

put-food-in-the-budget-classism

The Put Food in the Budget (PFIB) – a non-profit organization – invites you to an Equity Literacy Forum on Towards a Classism Reduction Strategy for Ontario, October 29, 2014, 8:30 a.m. – 4:00 p.m. at College Street United Church, 452 College Street, Toronto, Ontario, Canada.

The Put Food in the Budget and several other grassroots social justice campaigns will be participating along with faith groups, unions, social planning councils and school boards from around the GTA (Greater Toronto Area) to host Dr. Paul Gorski who will be speaking on Equity Literacy – Towards a CLASSISM Reduction Strategy for Ontario.

The Major Topics of the Forum

  • De-bunking what we already know to be the un-true stereotypes of people living in poverty, which go unchallenged everyday in discourse across our communities and in our schools and institutions.
  • Reveal the systemic and pervasive nature of classism which perpetuates poverty, blames individuals for economic injustices, rejects real change and promotes a widespread reliance on charity to address social issues.

Please RSVP by Friday, Oct. 24th to Vanessa Bilenduke at Community Development Council Durham:

  • Email: vbilenduke@cdcd.org ,
  • Phone: 905-686-2661, ext. 117.

Here is your invite from Yvonne Kelly (Social Planning Council of York Region, Member of Freedom 90 and Put Food in the Budget Campaigns).

Continue reading “You’re Invited: Equity Literacy Forum- Towards a Classism Reduction Strategy for Ontario Oct.29, 2014”

Ontario’s Minimum Wage Increases to $11 Per Hour on June 1, 2014

This is an update to the previous blogs:

“Virtually every Canadian trying to survive on minimum wage in any province – and the wages vary – lives below the poverty line. In Ontario … the push for a $14 minimum wage has spawned protests on the 14th of every month…..The minimum wage in Canada ranges from $9.95/hr in Alberta to $11/hr in Nunavut.”
Anna Maria Tremonti
cbc.ca

Hugh Mackenzie provides the interactive infographic CEO vs Average Pay in Canada: All in a Day’s Work?

And Mackenzie’s report All in a Day’s Work? CEO Pay in Canada gives us the following insight:

“Five years after a global recession knocked the wind out of Canada’s labour market, throwing tens of thousands of workers onto the unemployment line and sidelining a generation of young workers, the compensation of Canada’s CEO elite continues to sail along.”
Hugh Mackenzie
Canadian Centre for Policy Alternatives

Canadian Centre for Policy Alternatives' Infographic, 2014
Canadian Centre for Policy Alternatives’ Infographic, 2014

“Young people used to make up the bulk of minimum wage workers, but the data show that by 2011, nearly 40 per cent were 25 or older.

Various social groups, unions and health-care professionals have been pressuring governments to raise the minimum wage to $14 an hour, noting it would mean a pre-tax difference of $650 a month to thousands of the lowest-paid workers in Ontario.

The Workers Action Centre in Toronto, one of the groups fighting for a $14 minimum wage, is pleased to see increases tied to inflation, but warns it’s not enough.

“A full-time minimum wage earner falls 25 per cent below the poverty line, and we need much more than a cost-of-living increase to address this shortfall,” said spokeswoman Deena Ladd.”
Keith Leslie, The Canadian Press
CityNews Toronto

It is announced today that Ontario is increasing the minimum wage from $10.25 to $11 per hour on June 1, 2014.

  • This new rate reflects the rise in the Consumer Price Index (CPI) since the last minimum wage increase in 2010.
    • Consumer Price Index is a key indicator of how the economy is doing.

This CTV News video from The Globe & Mail presents “Ontario government raising the minimum wage to $11.”

Continue reading “Ontario’s Minimum Wage Increases to $11 Per Hour on June 1, 2014”