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Wealthiest 1% earn 10 times more than average Canadian
The richest of the rich in Canada earn about 10 times more than the average Canadian income of $38,700 and are generally married, middle-aged, white men, the final release of data from the National Household Survey shows.
Is this a problem? If so, why?
Bob A
P.S. I assume that the $ 38,700 is a single individual income. If so, I am surprised that it is this high these days. It seems to me that many in the 25-40 year olds range, are having difficulty finding decent paying full-time jobs, and that many are underemployed (many with first University degrees), many working more than one low-paying part-time job just to survive. Is anyone else surprised by the individual average?
Wealthiest 1% earn 10 times more than average Canadian
The richest of the rich in Canada earn about 10 times more than the average Canadian income of $38,700 and are generally married, middle-aged, white men, the final release of data from the National Household Survey shows.
Is this a problem? If so, why?
Bob A
P.S. I assume that the $ 38,700 is a single individual income. If so, I am surprised that it is this high these days. It seems to me that many in the 25-40 year olds range, are having difficulty finding decent paying full-time jobs, and that many are underemployed (many with first University degrees), many working more than one low-paying part-time job just to survive. Is anyone else surprised by the individual average?
Bob, the money isn't in a university degrees. I read the entire article you quoted and it contained this:
"The highest income in Canada is found in the Alberta oilsands in the census agglomeration known as Wood Buffalo, which takes in the city of Fort McMurray and surrounding communities, where median family income is $186,782."
I suppose you could say many who earn these incomes are underemployed. However, since so much emphasis from those here seems to be regarding the accumulation of wealth, they could try this sort of thing. There's also the option of creating wealth. Someone has to create wealth before wealth can be redistributed.
I worked in the industry for decades and worked in places where many would not care to work and did jobs many would not care to do.
A university degree in basket weaving isn't much good if the demand and high pay is in the oil sands or other parts of the Petroleum industry.
Wealthiest 1% earn 10 times more than average Canadian
The richest of the rich in Canada earn about 10 times more than the average Canadian income of $38,700 and are generally married, middle-aged, white men, the final release of data from the National Household Survey shows.
Is this a problem? If so, why?
Bob A
P.S. I assume that the $ 38,700 is a single individual income. If so, I am surprised that it is this high these days. It seems to me that many in the 25-40 year olds range, are having difficulty finding decent paying full-time jobs, and that many are underemployed (many with first University degrees), many working more than one low-paying part-time job just to survive. Is anyone else surprised by the individual average?
If I understand well, the wealthiest 1% own 10% of all riches. If we ignore them and concentrate on the remaining 99%, this means that we have to remove 10% of the average income. So the average income of the poorest 99% is $38700 - $3870 = $34830. This is already more realistic.
I have to admit, a master's degree in anthropology is generally less bankable than a 3 year diploma as a plumber.
Also, I believe that fewer people in Canada are living below the poverty line than before, so life is good. We should not begrudge those earning more. Generally they also contribute more to the economy.
In the perfect union environment, I suppose everyone earns approximate the same depending on job classification and that wonderful concept of equal pay for work of equal value. Probably one day someone will explain the concept to me.
Of course income is a slippery category. It counts everything including income from things like market trading, company car, and other things people might do to bring in income.
With the union you might have a medium to large company with maybe half dozen people who do exactly the same job. They make exactly the same. The thing is different people perform tasks with different levels of competence and accuracy. Lots of jobs are not like chess where if you make a terrible blunder there's always the next game. A terrible blunder and you don't go home. In a perfect world everyone is happy getting the same wage as the others. However, what do you suppose happens when the top guy, the one you depend on the most, decides he wants to leave for a higher paying job with a competitor? Do you let him go or do you find some way to keep him happy and producing?
In the perfect union environment, I suppose everyone earns approximate the same depending on job classification and that wonderful concept of equal pay for work of equal value. Probably one day someone will explain the concept to me.
Of course income is a slippery category. It counts everything including income from things like market trading, company car, and other things people might do to bring in income.
With the union you might have a medium to large company with maybe half dozen people who do exactly the same job. They make exactly the same. The thing is different people perform tasks with different levels of competence and accuracy. Lots of jobs are not like chess where if you make a terrible blunder there's always the next game. A terrible blunder and you don't go home. In a perfect world everyone is happy getting the same wage as the others. However, what do you suppose happens when the top guy, the one you depend on the most, decides he wants to leave for a higher paying job with a competitor? Do you let him go or do you find some way to keep him happy and producing?
Gary,
Salary is only important relative to costs. In Montreal we pay 50% less for lodging...30% less for restaurants...so a person who earns $30,000 a year in Montreal is probably as well off as someone earning $50,000 in Toronto. Not to mention that in Toronto you pretty much need a car, because it is so spread out...whereas in Montreal, you can easily use public transit for 99% of what you want to do :).
I realize costs vary depending on where a person lives. However, what Bob posted lumps it all together.
Probably this subject here is based on party politics. NDP and union stuff. And income isn't the same as wages. Does an employer, like say Canada Post, take into consideration the difference in costs between the different areas of the country or does everyone who does the same job make the same wage? I don't know. Where I worked people working in Peterborough or small towns around there made the same for the same classification jobs as those in Toronto.
Do you have a union to deal with? ;)
Many of the large businesses where I used to do service work are no longer in business, at least not in Canada. Some moved and they leveled the building to the ground. I guess the taxes on vacant land is less.
I think the top three categories are lawyers, doctors and high level executives. The unions aren't asking for enough. No working man should make less than $150,000.00 a year. ;):D
I realize costs vary depending on where a person lives. However, what Bob posted lumps it all together.
Probably this subject here is based on party politics. NDP and union stuff. And income isn't the same as wages. Does an employer, like say Canada Post, take into consideration the difference in costs between the different areas of the country or does everyone who does the same job make the same wage? I don't know. Where I worked people working in Peterborough or small towns around there made the same for the same classification jobs as those in Toronto.
Do you have a union to deal with? ;)
Many of the large businesses where I used to do service work are no longer in business, at least not in Canada. Some moved and they leveled the building to the ground. I guess the taxes on vacant land is less.
I think the top three categories are lawyers, doctors and high level executives. The unions aren't asking for enough. No working man should make less than $150,000.00 a year. ;):D
Strange as it may seem...my elevator service company in Montreal charges lawyer fees when he has to come outside of contract hours (after 5pm and before 8 am)...last year we had someone stuck in our elevator who was coming to play in a chess tournament....the bill was crazy...around $1,400...and all the elevator company guy did was flick a switch! (You know...reset an overload on a breaker!) I contested the bill...they knocked a bit off...we are still yelling at each other :)
Anyone looking for a job these days should go into the trades... In 2013, you will not find a company providing manual labour for less than $95 an hour (plus tax) in Montreal! I have no idea how much of that ends up in the hands of the employee...
Wealthiest 1% earn 10 times more than average Canadian
The richest of the rich in Canada earn about 10 times more than the average Canadian income of $38,700 and are generally married, middle-aged, white men, the final release of data from the National Household Survey shows.
Is this a problem? If so, why?
Bob A
P.S. I assume that the $ 38,700 is a single individual income. If so, I am surprised that it is this high these days. It seems to me that many in the 25-40 year olds range, are having difficulty finding decent paying full-time jobs, and that many are underemployed (many with first University degrees), many working more than one low-paying part-time job just to survive. Is anyone else surprised by the individual average?
Strange as it may seem...my elevator service company in Montreal charges lawyer fees when he has to come outside of contract hours (after 5pm and before 8 am)...last year we had someone stuck in our elevator who was coming to play in a chess tournament....the bill was crazy...around $1,400...and all the elevator company guy did was flick a switch! (You know...reset an overload on a breaker!) I contested the bill...they knocked a bit off...we are still yelling at each other :)
Anyone looking for a job these days should go into the trades... In 2013, you will not find a company providing manual labour for less than $95 an hour (plus tax) in Montreal! I have no idea how much of that ends up in the hands of the employee...
Larry
Getting work in the trades isn't so easy, either. I know someone who finished his electrical apprentice and he's now unemployed at the bottom of the union call list. I did have Gas Fitter's licences, but gas companies only wanted to hire contractors who already have a van equipped with tools and insurance. Contractors often hired help within their own family or ethnic group. Companies want experienced tradespeople, but not to train them. There are many tradespeople, as well as TTC drivers, police officers, nurses, etc. that can make over $100,000 with overtime. I have noticed that as babyboomers retire (tradespeople often retire earlier because of injuries) that there has been an increase demand in the last couple of years. Last year the filmworker's unions in Toronto had over 300 new painters and 300 new carpenters members, but mainly seasonal work.
I remember someone telling me the best career choices are engineering and accounting degrees, as people with that background tend to take the top positions in companies. In the survey the top 1% earned at least $191,000. These were not tradespeople but senior managers, $466,300, followed by administrators in finance, health, law.
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