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|    =?ISO-8859-1?Q?Canada=92s?= rich still g    |
|    05 Dec 11 07:37:24    |
      XPost: soc.culture.canada, can.atlantic.general, can.general       XPost: can.politics, can.taxes, soc.culture.quebec       From: abc@a123.ca              Canada’s rich still getting richer: OECD              Eric Lam Dec 5, 2011              The wage gap between the top and bottom income earners in Canada is       widening, largely due to tax policies, a new report from the Organization       for Economic Co-operation and Development said Monday.              The report found that the top 10% of Canadians in 2008 earned $103,500 on       average, 10 times higher than the bottom 10%, who made an average of       $10,260.              This is up from a ratio of 8 to 1 in the early 1990s.              The top 1% of Canadians, meanwhile, saw their share of the country’s       total income increase to 13.3% in 2007 from only 8.1% in 1980.              And the very richest of Canadians, the top 0.1%, had their share of       income more than double, to 5.3% from 2%.              The results suggest Canada needs to update its tax policies as taxes and       tax benefits in particular have become ineffective in wage       redistribution, the OECD said.              “The growing share of income going to top earners means that this group       now has a greater capacity to pay taxes,” the report said. “In this       context governments may re-examine the redistributive role of taxation to       ensure that wealthier individuals contribute their fair share.”              The top federal marginal income tax rates declined markedly in the past       30 years, falling to 29% in 2010 compared with 43% in 1981.              As well, tax benefits now only offset less than 40% of wage inequality,       compared with more than 70% before the mid-1990s.              “Taxes and benefits reduce inequality less in Canada than in most OECD       countries,” the report said. “Benefit rates fell and benefits became less       targeted. Changes in income tax rates played less of a role.”              Other factors driving this inequality include a rise in self-employment,       greater disparity in male wages (more women in the workforce helped       offset this) and low-wage workers losing hours at a greater pace than       higher-wage workers.              The report recommends creation of more and better-paying jobs through       investments in education at the childhood level as well as incentives for       workers and employers to encourage skills investments throughout working       life.              --- SoupGate-Win32 v1.05        * Origin: you cannot sedate... all the things you hate (1:229/2)    |
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