shockedcanadian
Diamond Member
- Aug 6, 2012
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You want to know why men like Bernie Sanders are making ground? There is a limit at which point this extreme wealth becomes counter productive for everyone, especially if public funds are sponsoring it.
While many Canadians struggled and saw their financial health deteriorate during the pandemic, the rich got richer.
A new report by Britain’s Oxfam International found that Canadian billionaires saw their wealth grow by a staggering 51 per cent since the pandemic began.
“This accelerated a trend that was already driving wealth inequality in Canada over the past decade,” Oxfam Canada reported.
The figures were released in a report titled ‘Survival of the richest: how we must tax the superrich now to fight inequality,’ issued Monday just ahead of the World Economic Forum in Davos, Switzerland. All numbers are in U.S. dollars
For every $100 of wealth created in the last 10 years in Canada, $34 has gone to the richest 1 per cent and only $5 to the bottom 50 per cent, according to Oxfam Canada. This means that the richest 1 per cent have gained nearly seven times more wealth than the bottom 50 per cent in the last 10 years. Oxfam says it used Forbes real-time billionaire list as of Nov. 30, 2022 and global banking firm Credit Suisse to compile its data.
They’ve ‘outdone even their wildest dreams’: Canadian billionaires saw wealth jump 51% during pandemic
Oxfam report showing vast increase in the wealth of the world’s richest calls for ‘fair taxation’ to reduce amount of inequality.
www.thestar.com
While many Canadians struggled and saw their financial health deteriorate during the pandemic, the rich got richer.
A new report by Britain’s Oxfam International found that Canadian billionaires saw their wealth grow by a staggering 51 per cent since the pandemic began.
“This accelerated a trend that was already driving wealth inequality in Canada over the past decade,” Oxfam Canada reported.
The figures were released in a report titled ‘Survival of the richest: how we must tax the superrich now to fight inequality,’ issued Monday just ahead of the World Economic Forum in Davos, Switzerland. All numbers are in U.S. dollars
For every $100 of wealth created in the last 10 years in Canada, $34 has gone to the richest 1 per cent and only $5 to the bottom 50 per cent, according to Oxfam Canada. This means that the richest 1 per cent have gained nearly seven times more wealth than the bottom 50 per cent in the last 10 years. Oxfam says it used Forbes real-time billionaire list as of Nov. 30, 2022 and global banking firm Credit Suisse to compile its data.