By the Numbers: The Wealth Gap
Toronto – January 14, 2015 – According to a new poll by the Broadbent Institute, an overwhelming majority of Canadians believe income inequality has worsened in the last decade. To address this inequality, 73% of those polled say that the government can – and should – do something to reduce the gap between rich and poor.
The wealthiest fifth of Canadians, or top 20% hold, more than two-thirds (67.4%) of the wealth in Canada.
While the wealthiest fifth hold more than two-thirds of the economic wealth in the country, the poorest fifth, or bottom 20% – own almost no share at all; just 0.1%.
An overwhelming number of Canadians (91%) believe that income inequality exists in Canada.
Four out of five Canadians believe that the gap between the rich and everyone else has widened over the last decade.
Three in four Canadians (73%) believe the government can do something to reduce the gap between the rich and everyone else.
Three out of four Canadians support increasing corporate tax rates back to pre-2008 levels to address inequality.
More than half of all Canadians support taxing capital gains and stock options at the same rate as wages to address inequality
Four of the five Canadians support increasing the federal income tax rate on the highest income bracket.
Percentage of those polled who object to further tax cuts tax cuts that may increase the gap between the rich and everyone else
Percentage of those polled who support an increase in funding for social assistance to low-income Canadians.
Seven out of 10 Canadians support a publicly funded national child care program to address income inequality.