By the Numbers: The Wealth Gap

From UFCW

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.

67.4%

The wealthiest fifth of Canadians, or top 20% hold, more than two-thirds (67.4%) of the wealth in Canada.

0.1%

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%.

91%

An overwhelming number of Canadians (91%) believe that income inequality exists in Canada.

80%

Four out of five Canadians believe that the gap between the rich and everyone else has widened over the last decade.

73%

Three in four Canadians (73%) believe the government can do something to reduce the gap between the rich and everyone else.

75%

Three out of four Canadians support increasing corporate tax rates back to pre-2008 levels to address inequality.

62%

More than half of all Canadians support taxing capital gains and stock options at the same rate as wages to address inequality

80%

Four of the five Canadians support increasing the federal income tax rate on the highest income bracket.

83%

Percentage of those polled who object to further tax cuts tax cuts that may increase the gap between the rich and everyone else

68%

Percentage of those polled who support an increase in funding for social assistance to low-income Canadians.

69%

Seven out of 10 Canadians support a publicly funded national child care program to address income inequality.

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