The Rich Are Getting Richer
Economic News

The Rich Are Getting Richer

The phrase “The rich get richer, while the poor get poorer,” has never been truer for Canada. A report by the Organization for Economic Co-operation and Development finds, the gap between Canada’s richest and poorest people is widening. The survey conducted in 2008 found, the top 10 per cent of Canadians earned 10 times as much as the bottom 10 per cent. This 10-1 ratio is above the OECD average of 9-1. The U.S ratio is 14-1. In Germany, Denmark and Sweden the ratio is 6-1. In my opinion if this survey were conducted today, the gap between rich and poor would be even wider. Here’s why I think that way. Continue reading »