2w ago

Statistics Canada says income gap hit record high in first quarter

www.ctvnews.ca /politics/article/statistics-canada-says-income-gap-hit-record-high-in-first-quarter/

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Holy fuck. I'd call this one of the largest issues of our time - society is further splitting into haves and have-nots. It drives a bunch of other problems, not least of which is the stark swing to the right of our youth.
(And yeah, climate change is a huge fucking deal, but if we have a growing oligarch class, and an angry proletariat, we aren't going to get real movement on it)
Those in the bottom 20 per cent of the income distribution saw the weakest growth in disposable income in the first quarter at 3.2 per cent compared with a year ago as their average wages edged down 0.7 per cent.
The lowest income households also saw the largest drop in net investment income as their investment earnings fell 35.3 per cent, while net transfers received, including increased government support measures, rose 31.2 per cent.
The average disposable income for those in the top 20 per cent of the income distribution increased at the fastest pace of any income group in the first quarter of 2025 as they benefited from a 7.7 per cent increase compared with a year earlier.
...
Statistics Canada said the wealth gap also increased as the top 20 per cent of the wealth distribution accounted for 64.7 per cent of Canada’s total net worth in the first quarter, averaging $3.3 million per household.
The bottom 40 per cent of the wealth distribution accounted for 3.3 per cent of net worth, averaging $85,700 per household.
- Even climate change as a problem is largely driven by the oligarch class. The working class would have been alright driving the smaller cars used to drive in the 2010s, and would have likely been okay climate action even in the late 80s. Especially since the cost would have been much lower if action was taken at that time.
  That is if the oligarch class did not wage relentless propaganda on climate change science and any solutions, instead promoting the fossil fuels industry which they own.
  
  I totally agree.
- It's the inevitable outcome of policy created specifically to do so. There was never any doubt as to where we would end up.
  Just remember, when you are hungry, eat the rich.
  
  I agree with the sentiment, but I'm getting tired of the "eat the rich" slogan.
  Unless someone is gonna go full Luigi, the reality is more like "reform tax and investment law!" which sounds way less cool, but way more attainable.
  Like I said, I agree, but "eat the rich" doesn't seem actionable. We can vote people in to change those stupid laws in the next election cycle. "Eat the rich" doesn't have a clear next step.
Several things are driving extreme inequality :
Corporate concentration : Behind every huge multinational, you find billionaires and extreme CEO compensation. This is why I avoid multinationals like Starbucks Coffee, Dunkin Donuts, McDonalds, Tim Hortons. I prefer to go to local coffees. This is also why I use Linux instead of Microsoft. This is why I encourage people to use Firefox instead of Google Chrome. This is why I financially support free open source software such as LibreOffice, VLC, GIMP. This is why I always avoid huge hotel chains. I only go to local hotels. Every Billionaire owns a multinational. An economy of small and mid-sized businesses is an economy with far less inequality.
Labor market flooding The labor market was flooded with temporary workers and recent migrants that often don't know their basic rights. This has had bad consequences on low-income workers.
Money in politics: Several provinces have very weak rules when it comes to money in politics. This gives rich donors enormous influence.
Weak lobbying rules: The maximum fine for illegal federal lobbying in Canada is $25,000 dollars. If you get caught again, it's $50,000. These figures are an absolute joke.
Under-investment in public transit: Forcing people to use an individual car to move is a great way to support the insurance industry, the banking industry and the oil industry. Guess who happen to own Canadian Insurers, Canadian Banks and Oil Refineries? The elite.
Stupid provincial tax policies A lot of the provincial tax policies are just plain stupid. Take Ontario. Doug Ford announced a tax cut on gas to help working families. This is a purely stupid idea. It means a Toronto Bank CEO going to the country club on Sunday gets a tax cut. The TD Bank clerk taking the bus doesn't.
Stupid zoning policies: Several Canadian cities make it incredibly hard to build apartment buildings. Toronto, which suffers from one of the worse housing crisis in the Western World, recently failed to allowed sixplexes citywide. Apartments buildings are far more affordable than individual homes. Winners are landlords and single home owners.
Fucked charity system: Revenue Canada allows deductions for donations to charities. Perhaps it started out as a well-meaning idea, but it turned out to be a major mistake. Often, rich Canadians appoint their wives to these fake charities and give them a huge salary. It's common to see charities paying people $300,000 or $750,000 to run an empty art gallery. The goal is just to pay less taxes. This system is now totally out of control.
Basically, this is going to require change at the federal, provincial and municipal level.
Hmm, maybe we should increase the capital gains inclusion rate or something
- no no no think of the retiring doctors and tech bros

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