Saturday, October 6, 2007

Income Redistribution

According to Director of Research at the Community Social Planning Council of Toronto and research associate Armine Yalnizyan from the Canadian Centre for Policy Alternatives, the top richest 1% of Canadians have benefited from the hardwork of working class. Citing a recent stats Canada survey, Armine Yalnizyan claims:
Those at the very top have seen their incomes double in the past two decades. The share of incomes going to the top 1% has soared – rising from 8.5% in 1982 to 12.2% in 2004 (a 43% increase in their piece of the pie). The higher up the income spectrum you go, the better the story gets.
Yalnizyan continues:
The average family raising children is clocking in 200 hours more a year than a decade ago...Still, as the numbers show, the vast majority of people are just pedaling faster to stay put.
Who is benefiting from the working classes extra work? The Rich. This injustice can be rectified by increasing income tax and redistribute income. The rich could definitely pay for a %4o increase in the welfare rates. The rich might additionally be able to pay for free tuition for all Canadian university and college students.

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