Income Inequality in Canada is Even Worse Than We Thought, According to This Report

Posted by Techvibes NewsBite

Because many of Canada's wealthiest people are funnelling income through private companies not included in standard measures of individual earnings, income equality in our nation may be substantially worse than most currently believe, according to a new report.

Canada’s top 1% of income earners actually took home an average of $500,200 in 2011, 39% more than the $359,000 figure calculated with traditional data, reports The Globe and Mail. The difference for the top 0.1% is 55%, and the difference for the top 0.01% is 71%.

The study, "Piercing the Veil," was was authored by Dr. Michael Wolfson of the University of Ottawa, Mike Veall of McMaster University, and Neil Brooks of York University.

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Techvibes NewsBite

Techvibes NewsBite

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