They’ve ‘outdone even their wildest dreams’: Canadian billionaires saw wealth jump 51% during pandemic

[shockedcanadian]

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.

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.

 

[Moonglow]

The fix is in and has been since the agriculture revolution

 

[johngaltshrugged]

But I thought the Canadian socialist policies were supposed to bring "equity, social justice & income equality" to the masses?
The bilkionaires in the US have done just as well ever since they shut down the economy to save us from the flu.
Both sides of the aisle pay lip service to helping their constituents while doing everything they can to enrich themselves & their allies.
The wealth & holdings of the few thousand bilkionaires in the world has skyrocketed while they prepare/herd the rest of us for a "reset" to UBI/welfare & no personal assets

 

[Godboy]

The fix is in and has been since the agriculture revolution

Quit derailing with your weird shit.

 

[Moonglow]

Quit derailing with your weird shit.

^^Supports the oligarchy^^

 

[Godboy]

^^Supports the oligarchy^^

Its just a constant stream of nonsense with you. Ive been at USMB for a LONG time. I dont think I have ever seen you actually say something that anyone found useful on either political side in any thread.

 

[Toddsterpatriot]

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.

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.

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.

Let's see the starting point and endpoint of the graph. And just for fun, post a couple of years
before the start of the pandemic.

 

[Dekster]

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.

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.

Bernie isn't Canadian and the reason the wealthy get wealthier is because they provide something of value to society. The reason the poor stay poor is that they don't. In the case of Canada, that is overwhelming because the Thomson family provides Thomson Reuters' services/content.

 

[Harpy Eagle]

Bernie isn't Canadian and the reason the wealthy get wealthier is because they provide something of value to society. The reason the poor stay poor is that they don't. In the case of Canada, that is overwhelming because the Thomson family provides Thomson Reuters' services/content.

I suppose what one considers "value to society".

Do teachers add value to society?

Do Firefighters/EMT provide value to society?

 

[Dekster]

I suppose what one considers "value to society".

Do teachers add value to society?

Do Firefighters/EMT provide value to society?

The teachers and firefighters in the US are ballers in comparison to much of the world. That is their value to society.

 

[Woodznutz]

I suppose what one considers "value to society".

Do teachers add value to society?

Do Firefighters/EMT provide value to society?

Teachers chose teaching.
Firefighters chose firefighting.
Billionaires chose accumulating wealth.

 

[Woodznutz]

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.

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.

If you held the bottom 50 percenters upside down and shook them I'll bet some pretty expensive stuff would fall out of their pockets. Stuff made and sold by the 1 percenters.

 

[shockedcanadian]

If you held the bottom 50 percenters upside down and shook them I'll bet some pretty expensive stuff would fall out of their pockets. Stuff made and sold by the 1 percenters.

Look, I am a capitalist, civil libertarian for the most part. I say this though, in todays global economy it is the poorest making such products for cheap and selling to the bottom 50%.

 

[Harpy Eagle]

Teachers chose teaching.
Firefighters chose firefighting.
Billionaires chose accumulating wealth.

 

[fncceo]

While many Canadians struggled and saw their financial health deteriorate during the pandemic, the rich got richer.

Good for them. Everyone loves a winner.

 

[Woodznutz]

Everyone who works adds some value to society. It's a matter of scale.

 

[Harpy Eagle]

Everyone who works adds some value to society. It's a matter of scale.

Very true. But the value they add is very subjective.

Does a football player add more value than a school teacher or a nurse?

 

[Woodznutz]

Very true. But the value they add is very subjective.

Does a football player add more value than a school teacher or a nurse?

Professional football is pretty big business.

 

[Harpy Eagle]

Professional football is pretty big business.

Yes it is. Does it add more value to society than nurses or police officers?

 

[Woodznutz]

Yes it is. Does it add more value to society than nurses or police officers?

I get a better feeling watching a football game than I do considering the failure of the medical industry or law enforcement. With the exception of a few bad calls by the referees those games are quite successful and enjoyable. Meanwhile law enforcement and healthcare are a big f-----g mess.