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Dark Knight / Le Chevalier Noir
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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.
I contacted a Tax Specialist recently...his rate was $600 an hour :(
Wealthiest 1% earn 10 times more than average Canadian
Is this a problem? If so, why?
Bob A
Bob, thanks for alerting us to this report. I see nobody has tried to directly answer your specific question. Gary did take the opportunity to attacks unions again, geez who saw coming?
Anyhow, I believe "excessive" income disparity can become a problem. Is "10 times the average" excessive? I don't know. What are the historic norms and is it growing wider or not? According to the Broadbent Institute (Ed Broadbent, remember him), income disparity has been growing now for several decades.
What would be more illuminating would be the stats on the 1% of the 1%. If I can believe some internet bloggers, the spread between the rich (1%) and the super rich (.01%) maybe even larger. So that the super rich earn more than 100 times the average!
Anybody have stats on that?
Last edited by Bob Gillanders; Monday, 16th September, 2013, 09:53 AM.
Ask Larry what elevator mechanics charge per hour - he has lots of experience with them in his Montreal office. That might create some career changes! :-)
According to a study of Internal Revenue Service figures released last week, the top 1 per cent of U.S. earners collected 19.3 per cent of household income in 2012, their largest share in IRS figures going back a century.
According to a study of Internal Revenue Service figures released last week, the top 1 per cent of U.S. earners collected 19.3 per cent of household income in 2012, their largest share in IRS figures going back a century.
Rene, Did that study mention what percentage of income taxes paid were by the 1%? I am curious. Is there a correlation?
Are you asking what percentage of total national tax dollars were paid by the top 1 %? Would be interesting if it was comparable.
But I think the most interesting thing to know would be what the "effective rate of tax" was for the top 1%. I suspect much lower than we unwashed might expect.
On one hand, there is the issue of how you collect the taxes, and on the other hand there is the issue of how you spend them. Down here in the USA, we have mastered the art of spending in jaw-dropping ways.
But I think the most interesting thing to know would be what the "effective rate of tax" was for the top 1%. I suspect much lower than we unwashed might expect.
Bob
Did you know that only 50% of earnings from capital gains is taxable?
Capital gains is a large portion of the income of the super rich.
Doesn't seem fair. Why tax labour more than capital?
Did you know that only 50% of earnings from capital gains is taxable?
Capital gains is a large portion of the income of the super rich.
Doesn't seem fair. Why tax labour more than capital?
What percentage does the chess foundation pay on their capital gains? What percentage of the income and dividends from their investments is taxable?
Where on the Narional Radar is Canadian Income Distribution?
From today's (Sept. 17) Globe and Mail.com:
"Linda McQuaig is hoping a promise of better jobs will convince Toronto Centre voters to employ her as their MP.
Ms. McQuaig, who will carry the New Democratic banner in the yet-to-be-called by-election, took aim at income inequality Tuesday, decrying the “precarious employment” so common in the downtown riding.
“We’ve heard for years that this is just the reality of the global economy, and we just have to put up with this. We’ve heard, tighten our belts, learn to do with less, just work harder,” she said, standing with NDP MP Andrew Cash in the heart of the Ryerson University campus, as crowds of students filed by. “There is nothing natural or inevitable about the dramatic increase in inequality and the tremendous increase in precarious employment ... Those are the specific results of a specific set of rightwing economic policies.”
Ms. McQuaig has penned a series of books criticizing the gap between rich and poor, and the decline of the welfare state."
Would be great if this was a leading issue in the upcoming Toronto Centre by-election. This issue needs to be brought home to Canadians in a highly visible way, to raise it on the national radar.
Do you think Canadians consider this a priority issue for a federal government?
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