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lebiez piranaj

Ontario Income Inequality: Canada's Largest Province Facing Growing Poverty, Cuts To So... - 4 views

www.huffingtonpost.ca/...equality-report_n_1839075.html

growing poverty cuts inequality canada income

shared by lebiez piranaj on 17 Jan 13 - No Cached
  • "Ontario's budgets for the last 15 years have repeatedly prioritized tax cuts while casting concomitant cuts to social programs as necessities rather than choices,"
  • there is a growing income gap among Ontarians
  • between 1981 and 2009, Ontario had the country's second highest increase in the poverty rate
  • ...2 more annotations...
  • the percentage of Ontarians living below the low income measure rising from 9.4 per cent in 1981
  • It blames tax cuts coupled with reductions in social programs for many of the problems it outlines."Ontario's budgets for the last 15 years have repeatedly prioritized tax cuts while casting concomitant cuts to social programs as necessities rather than choices," the report states.
  • lebiez piranaj on 18 Jan 13
     
    There is a widening gap in terms of inequality in Canada and it goes on to say that its being blamed on tax cuts for such inequalities, the article goes on to state that the inequality may be the reason for the province to be facing this growing poverty. 
Erica Yeo

Canada's wage gap at record high: OECD - The Globe and Mail - 1 views

www.theglobeandmail.com/...article4099041

inequality canada challenges globeandmail skillsgap

shared by Erica Yeo on 23 Nov 12 - No Cached
  • gap between Canada’s rich and poor is growing
  • the income gap in Canada is well above the 34-country average, though still not as extreme as in the United States
  • Countries with greater income inequality tend to see shorter, less sustained periods of economic growth
  • ...21 more annotations...
  • Greater inequality raises economic, political and ethical challenges as it risks leaving a growing number of people behind in an ever-changing economy
  • the top federal marginal income tax rates tumbled – to 29 per cent in 2010 from 43 per cent in 1981
  • Canada’s growing gap: a widening disparity in labour earnings between high- and low-paid workers, and less redistribution.
  • Taxes and benefits reduce inequality less in Canada than in most OECD countries
  • Shifts in the labour market are a key reason why the gap is widening
  • Technological progress has been more beneficial to high-skilled workers, while the gap in men’s earnings in particular is growing ever wider
  • annual hours of low-wage workers in Canada have fallen to 1,100 hours from 1,300 hours, while those of higher-wage workers fell by less, to 2,100 from 2,200 hours
  • Rising self-employment
  • the self-employed typically earn less than other full-time workers
  • Taxation
  • Canada’s tax-benefit system was as effective as those of the Nordic countries in stabilizing equality, offsetting more than 70 per cent of the rise of market-income inequality
  • taxes and benefits now offset less than 40 per cent of the rise in inequality
  • inequality has been rising more rapidly in Canada than in the U.S.
  • social implications
  • income inequality with poor health outcomes
  • 11-year difference in life expectancy between men who live in its poorest neighbourhood and those its richest
  • Taxing the rich
  • closing loopholes
  • compliance with tax rules
  • education, skills training and job retraining programs
  • More and better jobs, enabling people to escape poverty and offering real career prospects, is the most important challenge
  • burmangabriel on 23 Nov 12
     
    1) What do you think are possible solutions for the rising inequality? 2) Since the rich are taking a higher percent of overall income and Canada is in debt, do you agree with lowering their taxes?
lebiez piranaj

Canada must address growing income inequality: Broadbent Institute - 1 views

www.vancouversun.com/...story.html

inequality canada income growing poverty address

shared by lebiez piranaj on 17 Jan 13 - No Cached
  • Canada is moving in the wrong direction and must address its extreme and growing income inequality, according to a new discussion paper from the Broadbent Institute
  • affordable housing, improvements to Employment Insurance, “fair” taxes and a national prescription drug program — is needed to address the problem.
  • “It’s not as if we don’t have the wealth, but it’s the distribution of the wealth that really matters.”
  • ...5 more annotations...
  • between the mid-1990s and the late 2000s, Canada had the fourth-largest increase in income inequality out of 17 peer countries. Canada was ranked 12th out of those countries, a slip to “below the average.”
  • a commitment to equality must come from all levels of government, leadership must come from the feds,
  • There is no “single magic bullet,” to achieve greater equality
  • Most Canadians grew up with the expectations that their son or daughter could be whatever they want to be, whether it’s a hockey player or a brain surgeon … now the reality is, if you want to live the ‘American dream’, you should move to Sweden
  • The federal government has many of the key levers — especially income security programs, a progressive tax system, and transfers to the province — needed to combat inequality,
Erica Yeo

The widening gap in Canada's labour market - The Globe and Mail - 1 views

www.theglobeandmail.com/...article4104784

inequality canada challenges skillsgap solutions globeandmail

shared by Erica Yeo on 16 Jan 13 - No Cached
  • A fault line is splintering Canada’s labour market into those who can’t find work and those who can’t find workers.
  • employers across the country say they can’t find the right workers for all kinds of available jobs.
  • Groups with high jobless rates such as aboriginal people, recent immigrants and those with disabilities are struggling to land good jobs, limiting their ability to climb the economic ladder.
  • ...11 more annotations...
  • At the same time, employers from Newfoundland and Labrador to the Prairies say shortages are constraining their ability to grow, innovate and compete.
  • Structural shifts in the labour market mean “workers in declining industries may not have the skills or experience to match immediately the needs of employers in expanding industries,”
  • Unemployment is high, even as the number of job vacancies continues to rise
  • That means more-efficient partnerships between employers and universities and colleges,
  • “The lack of young people pursuing further education in engineering and science and technology, is definitely a strain on our ability to grow,”
  • Last month it called on the federal and provincial governments to work with employers to find strategies to overcome expected shortfalls.
  • It says improving skills and workplace training should become a national priority, and recommended more companies make a “strategic decision to take a direct role in creating the skilled workforces and talent pipelines they need.”
  • In Canada, part of the problem is that many people haven’t pursued careers in areas where all the job growth is happening. Mining and energy extraction are, by far, the fastest-growing segments of job growth in Canada over the past year, with employment gains of 5.7 per cent.
  • Despite the presence of the local universities churning out tech graduates, he estimates there are about 1,900 current vacancies for technical jobs in the Kitchener-Waterloo region “that are unfilled and have been for some time.
  • the labour market imbalance “is the largest threat to our economy,”
  • Without that effort, he estimates 1.5 million jobs could go unfilled in 10 years’ time.
Brijesh Patel

Consumer Spendings continue to grow - 0 views

www.newswire.ca/...mer-spending-continued-to-grow

consumer spending

shared by Brijesh Patel on 18 Jan 13 - No Cached
  • Brijesh Patel on 18 Jan 13
     
    Canadian spending rose by 3.45 per cent during the fourth quarter of 2012 October 2012 experienced the strongest growth, with a 4.93 per cent increase in spending, Boxing Week spending was up 5.35 per cent, compared to 2011
Erica Yeo

Why the gap between rich and poor in Canada keeps growing - thestar.com - 0 views

www.thestar.com/...d-poor-in-canada-keeps-growing

inequality canada challenges wealthgap star

shared by Erica Yeo on 16 Jan 13 - No Cached
  • Information technology has eliminated some middle-skill jobs, such as filing and administration, while globalization has seen high-paid manufacturing jobs outsourced to lower-paid countries, Alexander said.
  • globalization has weakened the lowest earners’ bargaining power as their jobs are outsourced to cheaper countries,
  • The gap has likely widened since the recession in 2008 as more companies moved high-paid manufacturing jobs offshore to countries with lower wage rates, the economists also noted.
  • ...3 more annotations...
  • Cuts to government programs, such as unemployment insurance, combined with increases in post-secondary education costs are making it hard for the lowest income Canadians to compete in the knowledge economy,
  • The top 10 per cent of Canadians earned 10 times as much as the bottom 10 per cent in 2008, the OECD said. That’s up from a ratio of 8 to 1 in the early 1990s
  • Calling on governments to do more to close the gap, the OECD said the report dispels the theory that tax cuts will have a trickle down effect by promoting economic growth that benefits everyone
A SN

Tom Thorne's ejournal: Economic stagnation in US means whoever wins the US Presidential... - 1 views

tomthorneejournal.blogspot.ca/...ation-in-us-means-whoever.html

Stagnate Economic Growth

shared by A SN on 28 Nov 12 - No Cached
  • The real threat to Canada is not who is in the White House but what they do about the mounting US Government debt now at $16 Trillion plus. To this point there is no will apparent to cooperate for a solution.
  • The real threat to Canada is not who is in the White House but what they do about the mounting US Government debt now at $16 Trillion plus. To this point there is no will apparent to cooperate for a solution.
  • The real threat to Canada is not who is in the White House but what they do about the mounting US Government debt now at $16 Trillion plus. To this point there is no will apparent to cooperate for a solution.
    • A SN
      A SN on 28 Nov 12
       
      Represents the real threat to Canada; USA's economic stagnation
  • ...8 more annotations...
  • The real threat to Canada is not who is in the White House but what they do about the mounting US Government debt now at $16 Trillion plus. To this point there is no will apparent to cooperate for a solution.
  • If the US literally prints its way out of its economic mess, the mess will be compounded. 
    • A SN
      A SN on 28 Nov 12
       
      Problems caused by overprinting money
  • Such an action is guaranteed to create inflation and a rise in interest rates charged to service the debt and also generally for business and lenders of all kinds.
  • Lenders will want more interest to cover the risk of carrying US Government debt loads expressed in diluted valued bonds and currency.
    • A SN
      A SN on 28 Nov 12
       
      The proves that the USA is in really bad debt.
  • Serious debt reduction is needed in the US Congress and Administration.  And there is very little wiggle room to cut US government expenditures. However failure to do so will mean in the middle range of time that the US will become more and more an economic lightweight and hence its world presence will be diminished. That is bad for Canada.
    • A SN
      A SN on 28 Nov 12
       
      If USA falls into a deeper economic stagnation Canada will be widely affected.
  • The US is making itself militarily and financially vulnerable. Canada, no matter how well we manage our financial affairs, will be forced into the same situation as our major trading partner.
    • A SN
      A SN on 28 Nov 12
       
      The US is losing it influence throughout the world. This is a problem.
  • It will be tougher for Canada to retain our natural resources.  Potential deals like the Chinese State taking over Nexen in our oil sands, will become more likely if we want to maintain our own economic performance independent of a financially errant US.
    • A SN
      A SN on 28 Nov 12
       
      problems caused by USA economic stagnation.
  • It really is time for the United States Government and its politicians to bite the economic bullet. Failure to do so means a downsizing of the United State’s influence on the world stage and that can only mean that Canada will need a more independent economic policy as China grows in influence. In short the lack of action on the economic front by our major trading partner is taking us more to Europe and into the arms of the Chinese Government’s hegemony.
    • A SN
      A SN on 28 Nov 12
       
      The consequences if the USA does not change.
  • A SN on 28 Nov 12
     
    Questions: 1. Do you think that eventually Canada will have no choice but to sell its natural resources to the other world powers? Can this be a good change? 2. Canada and the USA share a lot of history and do a lot of activities together, do you think that being financially independent will make us rely less on the US ?
lebiez piranaj

Consumer debt loads grow at fastest pace in 2 years - 3 views

www.cbc.ca/...transunion-debt-credit.html

consumer debt fastest pace

shared by lebiez piranaj on 25 Nov 12 - No Cached
  • Canadian debt loads grew at their fastest pace in two years during the summer
  • Credit reporting agency TransUnion's latest quarterly analysis of Canadian credit trends found average consumer non-mortgage debt jumped 4.6 per cent year-over-year in the third quarter to an average of $26,768
  • Measured on a quarterly basis, debt grew 2.1 per cent in the summer from the second quarter of this year.
  • ...9 more annotations...
  • Canadian instalment loan borrower debt grew 2.3 per cent over the third-quarter of last year to an average of $22,849.
  • — with inflation as measured by the Consumer Price Index up nine per cent and consumer debt jumping more than 37 per cent.
  • A 11 per cent uptick year-over-year in auto loans to an average of $19,228 was the main driver of the growth in overall debt
  • debt loads have increased 400 per cent more than the rate of inflation
  • Borrowing on lines of credit fell 0.2 per cent year-over year, but grew nearly one per cent since the second quarter of the year and sits at an average of $34,050.
  • delinquency levels — those who are late or default on a loan— continue to remain low across all categories.
  • the number of Canadians missing or defaulting on loan payments fell to pre-recession levels
  • household market debt has risen to 163 per cent of disposable income.
  • "We're moving into the Christmas season so I anticipate we might see another high increase year-over-year when we get to the Q4 numbers
  • lebiez piranaj on 26 Nov 12
     
    1. Despite receiving warnings about Canadian debt issues , it turns out that the average credit card debt has actually decreased by one percent while the year-over-year auto loans are now the main driving force behind the overall growth of our debt, why do you think this is happening? 2. Thomas Higgins, TransUnion's vice-president of analytics and decision services said that he believes the reason why consumers continue to ramp up debt is due to the media spreading overly positive news regarding the economy and throwing the readers into a state false optimism. Do you believe this is the case and why?
Dyena Huynh

Study: Canadian consumer debt hits $26,768, highest in two years - 1 views

www.digitaljournal.com/...336848

shared by Dyena Huynh on 26 Nov 12 - No Cached
  • Canadian consumer debt grew at the fastest pace since the fourth quarter of 2010
  • Bank of Canada Governor Mark Carney has been warning households of its growing debt rate and officials are continuing to caution that household spending levels are starting to get out of control.
  • Dyena Huynh on 26 Nov 12
     
    1. Why do think consumer debt increased so much? 2. They say that getting consumers to spend more will help boost the economy, but is it beneficial when consumers are going into debt?
  • Brijesh Patel on 26 Nov 12
     
    1. i believe consumer debt has increased drastically because the generation is upgrading really quickly with new things, mainly technology and many people want to be caught up with the latest trends whether it is buying the latest iphone, clothing, real estate, buying a car etc. People begin to borrow heavy loans without thinking of a way to pay back therefore causing a big debt to themselves.
  • Samson Luong on 27 Nov 12
     
    1. I believe consumer debt has increased greatly due to the need to purchase luxuries and unnecessary goods because we live in a society where we live in a society where you feel incomplete if you do not possess a certain good. 2. I think spending money to a certain point is beneficial because it helps circulate cash, however consumers should not be spending to a point where they cannot pay back debts. Also people can spend money wisely rather on unnecessary and expensive goods.
faseehthemoonman

Mining industry stakes claim as most powerful economic and social force in Queensland |... - 0 views

www.theaustralian.com.au/...story-e6frg6n6-1226526384303

shared by faseehthemoonman on 01 Dec 12 - No Cached
  • faseehthemoonman on 02 Dec 12
     
    Queensland resources council conducted a study that showed the mineral and energy has once again has increased its economic contribution to the state. resource companies have created 36 billion in gross regional product, due to gas and coal companies. it is a smart decision that auzi started to investing in producing a wide range of commodity resources. since the coal market struck a high. The challenge now is to ensure that there is a strong pipeline of projects across all commodities to sustain and grow the resources.
  • faseehthemoonman on 02 Dec 12
     
    Question Do you think a country like Aus would have more success investing in resources and commodities than Canada?
JJ Igra

Budget watchdog finds average public service job costs $114K - 0 views

www.cbc.ca/...p-page-cost-civil-service.html

JJ King Goverment

shared by JJ Igra on 12 Dec 12 - No Cached
  • JJ Igra on 12 Dec 12
     
    The average public servant costs taxpayers $114,100 a year in total compensation. "Total compensation (per full-time employee) in the federal workforce outpaced not only CPI (inflation), but also that of the Canadian business sector and provinces and territories over the study period," the report states. Although the government has recently announced new restraint measures that will cut the number of public servants, the PBO estimates that average compensation for salaries and benefits will reach $129,800 in the next three years. Canadian Taxpayers Federation federal director Gregory Thomas said he found some of the numbers "staggering," particularly since average household income growth is in the neighbourhood of one per cent. "This government has been in office for six years, you wonder when are they are going to get serious about controlling payroll costs," he said. Ottawa recently announced it has already shed about 11,000 in the first six months of the program. When the current austerity measures are completed, the public service will decline to 349,000, if Ottawa sticks with the program. "The period between 2012-13 and 2014-15 resembles those of the mid-1990s, as both personnel expenses and federal employment (are) reduced," the report states. "The PBO expects a significant slowdown in personnel expenses, given assumptions about baseline employment." Compensation is expected to continue to grow, although not at the rate of the past 13 years. The report projects that by 2014-15, the average annual compensation for a federal employee will rise to $129,800, a growth rate of 4.4 per cent per annum. That is a few thousand dollars less than would have been the case without the restraint program. The PBO complains, however, as it has in the past, that it has not been given sufficient information about how the restraint program is being implemented, or its impact. "As such, parliamentarians do not have the resources with which to determine areas of priorit
  • JJ Igra on 12 Dec 12
     
    Questions: With the government cutting off public servant, how will this effect the distribution on public services provided to Canadians Is there other alternatives the government can consider rather than laying off public servants to decrease the government's expenditure?
Brijesh Patel

Consumer Debt loads grow at fast pace in 2 years - 0 views

www.cbc.ca/...transunion-debt-credit.html

debt hits new ratio

shared by Brijesh Patel on 18 Jan 13 - No Cached
  • Brijesh Patel on 18 Jan 13
     
    Canadian debt loads grew at their fastest pace in two years during the summer
  • Brijesh Patel on 18 Jan 13
     
    Non-mortgage debt jumped 4.6 per cent
  • Brijesh Patel on 18 Jan 13
     
    Household market debt has risen to 163% of disposable income
S C

As consumer debt grows, Mark Carney says ready to act if necessary | Debt | Personal Fi... - 1 views

business.financialpost.com/...ns-deeper-in-debt-than-thought

consumer debt personal finance

shared by S C on 16 Jan 13 - No Cached
  • emerging
  • While consumers are still spending and loading up more debt, Canadian corporate leaders are pulling back on their business plans because of weak global economic growth
  • debt-to-income ratio rose to 163.4%
  • ...9 more annotations...
  • Household debt is viewed as the biggest threat to the Canadian economy
  • much of that acquired through low mortgages rates
  • Monday’s survey showed 44% of companies plan to increase employment levels over the same period — compared to 59% in July — while 18% said those levels would decline.
  • That rate continued to rise to another record high in the first half of 2012, the federal agency said. In 2011, the ratio of household debt to income was 161.7%, up from 150.6%, under a new system of economic accounting adapted by agency.
  • Firms are generally more circumspect about near-term investment decisions and are focusing on minimizing costs,
  • ost businesses are evenly split at 35% between faster and slower sales growth expectations
  • In its autumn Business Outlook Survey, the central bank said companies “have tempered their expectations for business activity.”
  • Canadian households are continuing to pile on debt at a record pace, while corporate leaders are pulling back on their business plans because of weak global economic growth and uncertain demand.
  • While Canada’s economy is being affected by the global angst, the key areas of uncertainty abroad are all points of justifiable confidence here at home
  • S C on 18 Jan 13
     
    Consumer debt is becoming a larger threat to the Canadian economy as a whole. Meanwhile, businesses stopped expanding due to weak global growth.
S C

5 Things to do when you're unemployed. Hint: It's not job hunting. | Penelope Trunk Blog - 0 views

blog.penelopetrunk.com/...loyed-hint-its-not-job-hunting

things to do unemployed job hunting

shared by S C on 16 Jan 13 - No Cached
  • the interview question: What happened at your last job?Here's the answer you should always give: “I left to do x.” And you fill in for x
  • what you should be really focusing on when you are unemployed: Learning and growing
  • Because this is what you are going to talk about in job interviews
  • ...13 more annotations...
  • when you talk about why you left the last company, you spin it in a positive light by talking about how you are excited about doing what you are doing. Your interview should include you telling a good story about focused personal growth, and no one will get stuck on why you left your last job
  • During one stint of unemployment, I worked for free for my boyfriend's company for a couple of hours a day. That way I didn't actually have a gap in my resume; a resume doesn't show part-time or full-time and it doesn't show pay or no pay
  • ocus on ambition and execution and not so much on work per se
  • The company that never got out of your parent's basement can sit on your resume as professionally as a stint in the Fortune 500. It's all about how you write the bullet points: talk about accomplishments and learning
  • Put your ideas out into the world and connect with people that way. This is why you want to be hired, right? For your ideas. So show them.
  • The reason that people who blog have great careers is that bloggers are always thinking about issues in their industry. Show that side of yourself to people. Blogging takes a lot of time, sure. Bu you have a lot of time. So use it.
  • Do you have a company idea? Try it now. During unemployment. There's nothing stopping you.
  • whether or not your company does well, you'll be able to talk about it in an interview as a huge learning moment
  • Blogging is a great way to keep up in your industry, network without looking desperate
  • High performers practice for interviews
  • Practice talking about yourself with everyone
  • So now you know what you're aiming for, but you need to talk about it with everyone — parties, at the gym, on the phone with friends. When they ask how you're doing, talk about what you're doing like you are in the job interview.
  • What's important to remember here is that no one can tell you what experience you can gain and what you can't. You don't need a job in order to learn cool stuff and be on cool projects. You control what you do with your time and you can make it useful. Talk about that. There is no reason to talk about why the last job didn't work when you can talk about the great things that leaving opened up to you
  • S C on 16 Jan 13
     
    Job hunting for 8 hours a day isn't the ideal way to get rehired. Instead, focus on spinning a positive light on negative questions your next interviewer might ask. For example, when asked why you left your last job, quickly get to why you're interested the one you'er applying for.
tyler wiliams

Income inequality rising quickly in Canada - 1 views

www.theglobeandmail.com/...article618311

income inequality canada challenges

shared by tyler wiliams on 18 Jan 13 - No Cached
  • tyler wiliams on 18 Jan 13
     
    From the mid 1990's - late 2000's Canada had the fourth largest increase in income inequality among it's peers. Income inequality, along with corruption, were named as the two most serious challenges facing the world at this year's World Economic Forum in Davos. the impact of the growing income gap has gather little attention in Canada market forces and globalization are increasing disparity, along with institutional shifts such as dwindling unionization rates and stagnating minimum wages.
Nikita Klyuev

Canadians' debt mountain growing at fastest pace in two years - 0 views

business.financialpost.com/...s-during-summer-spending-spree

canada debt consumer credit

shared by Nikita Klyuev on 17 Jan 13 - No Cached
  • Nikita Klyuev on 17 Jan 13
     
    Credit reporting agency TransUnion's latest quarterly analysis of Canadian credit trends found average consumer non-mortgage debt jumped 4.6% year-over-year in the third quarter to an average of $26,768.
Cristina Raileanu

Commodities and resources - 0 views

www.theglobeandmail.com/...article7263013

Economics commodities resources

shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • Out west, we’ve had it pretty good. Unemployment is low, incomes are high, and the GDP is set to grow faster than almost anywhere.
  • We are not here for ourselves alone.
  • we focus on what immigrants can do for us (fill jobs) rather than on what we can do for them (provide beautiful communities and the chance to participate in building something amazing).
  • ...3 more annotations...
  • “We must build pipelines. The world needs our oil. Nothing can get in the way. This is not negotiable.” Oil and pipeline companies are running headlong into some unanticipated opposition from folks who don’t see it the same way.
  • That means being a world leader in environmental stewardship, rather than arrogantly comparing ourselves to Nigeria or Sudan and patting ourselves on the back because our human rights are better than theirs.
  • Alberta is in a unique situation. It’s been blessed enormously in resources, wealth, natural beauty and smart people. We really can do anything if we set our minds to it, but not if we do it only for short-term financial gain.
lebiez piranaj

Canada's Income Inequality: What Is It, And How Bad? - 1 views

www.huffingtonpost.ca/...lity-by-numbers_n_1545900.html

poverty canada income inequality growing

shared by lebiez piranaj on 17 Jan 13 - No Cached
  • income inequality could be “the new global warming.”
  • in the last three decades income for the richest Canadians has increased far faster than it has for the poorest
  • As the income gap widens and rich neighbourhoods become unaffordable for middle- and low-income families, good schools become less accessible
  • ...6 more annotations...
  • As of 2009, the average Canadian family had an after-tax income of $60,000, an increase of 16 per cent from the Canadian average of $52,000 in 1980
  • the top 10 per cent have pulled ahead of the pack
  • The average income that families in the bottom 20 per cent make from employment has decreased by 60 per cent since 1980, whereas the average earnings in the top 10 per cent has grown by 45 per cent
  • Canada’s Gini was estimated to be 0.32 – a middling value
  • More telling is that in the past decade, Canada’s Gini has risen faster than all but five of the OECD’s 34 countries
  • Wilkinson says that as the income gap widens, problems related to social status increase
  • lebiez piranaj on 17 Jan 13
     
    The article talks about how income inequality is increasing in Canada. It talks about how the rich are getting a bigger income over the years then the poor. 
lebiez piranaj

For richer, for poorer | The Economist - 1 views

www.economist.com/21564414

gini coefficient disparities inequality income distribution

shared by lebiez piranaj on 16 Jan 13 - No Cached
  • the share of national income going to the richest 1% of Americans has doubled since 1980
  • rise in disparities all along the income distribution
  • best-known way of measuring inequality is the Gini coefficient
  • ...15 more annotations...
  • global inequality has started to fall even as inequality within many countries has risen
  • inequality rises in the early stages of industrialisation as people leave the land
  • inequality has been on the rise for three decades
  • people at the bottom and even in the middle of the income distribution are falling behind not just in relative but also in absolute terms
  • Too often high-tax welfare states turned out to be inefficient and unsustainable
  • Europe France’s new president, François Hollande, wants a top income-tax rate of 75%
  • The mainstream consensus has long been that a growing economy raises all boats
  • of the tendencies that are harmful to sound economics, the most seductive and…poisonous is to focus on questions of distribution
  • Some societies are more concerned about equality of opportunity
  • The unstable history of Latin America, long the continent with the biggest income gaps, suggests that countries run by entrenched wealthy elites do not do very well
  • America’s presidential election is largely being fought over questions such as whether taxes should rise at the top
  • a big driver of today’s income distributions is government policy
  • a lot of today’s inequality is inefficient
  • reflects market and government failures that also reduce growth
  • it is about attacking cronyism and investing in the young
  • lebiez piranaj on 16 Jan 13
     
    The article talks about how inequality may have decreased worldwide but it is increasing more and more in specific countries, Canada has fairly high inequality and there are propositions to tax the rich or redistribute income using other strategies. 
tyler wiliams

Broadbent Institute makes income inequality its first focus - 0 views

www.cbc.ca/...itute-first-policy-report.html

income inequality canada plan

shared by tyler wiliams on 18 Jan 13 - No Cached
  • tyler wiliams on 18 Jan 13
     
    Most of the income gains of the past three decades, the report argues, were realized by only wealthy Canadians. The paper suggests that social and economic rights be added to the Charter of Rights and Freedoms alongside Canadians' political and civil rights, in order to fulfil its "security of the person" provision. For every dollar increase in national earnings over the last 20 years more than 30 cents have gone to the top one per cent while the remaining 70 cents have been shared across the other 99 per cent of Canadians. The final section of the report is prescriptive, outlining several ways to combat growing income equality: -Good jobs: changes to economic policies to promote the growth of middle-class jobs, including trade and foreign investment policies that protect labour rights and environmental standards and strong investments in child care, public education and skills training. -Income supports: changes to the government programs targeted at low-income Canadians and those in short-term need, such as employment insurance, Old Age Security, the Canada Pension Plan, provincial welfare systems and other income supports and tax benefits targeted at low-income families with children and the working poor. -Expanding public services: the report argues that for the majority of Canadians public services are a good deal; The value of education, health care, child care and other public services annually exceeds the taxes paid by middle-class and low-income Canadians. At the same time, some reforms are needed, it acknowledges. -Fair taxes: changes to Canada's tax system are necessary, it argues, pointing out Canada's taxes as a share of national income (31 per cent) are below the average of the world's industrialized countries (34 per cent), squeezing funding for public services.
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