The richest people in Canada got a lot richer in 2021, even as the poorest half of all tax filers saw their incomes decline by $1,400.
That’s one of the main takeaways of a new data analysis released by Statistics Canada on Friday looking at tax filings from 2021 and comparing them with the previous year.
“Filers in the bottom half of the distribution saw their average total income decline $1,400 from 2020 to $21,100 in 2021,” Statistics Canada said in a release on Friday.
Taken together, the figures released Friday show that the share of income taken in by the richest one per cent of Canadians got even more top-heavy during the years in question.
Armine Yalnizyan, an economist and Atkinson Fellow on the Future Of Workers, says the numbers clearly paint a picture of the “rich getting richer,” but she says she’s especially concerned with how it is happening.
While incomes are inching higher for most people across the board, the fact that they’re going up faster for those at the top than those at the bottom is a big problem for policymakers, Yalnizyan says.
The original article contains 743 words, the summary contains 178 words. Saved 76%. I’m a bot and I’m open source!
This is the best summary I could come up with:
The richest people in Canada got a lot richer in 2021, even as the poorest half of all tax filers saw their incomes decline by $1,400.
That’s one of the main takeaways of a new data analysis released by Statistics Canada on Friday looking at tax filings from 2021 and comparing them with the previous year.
“Filers in the bottom half of the distribution saw their average total income decline $1,400 from 2020 to $21,100 in 2021,” Statistics Canada said in a release on Friday.
Taken together, the figures released Friday show that the share of income taken in by the richest one per cent of Canadians got even more top-heavy during the years in question.
Armine Yalnizyan, an economist and Atkinson Fellow on the Future Of Workers, says the numbers clearly paint a picture of the “rich getting richer,” but she says she’s especially concerned with how it is happening.
While incomes are inching higher for most people across the board, the fact that they’re going up faster for those at the top than those at the bottom is a big problem for policymakers, Yalnizyan says.
The original article contains 743 words, the summary contains 178 words. Saved 76%. I’m a bot and I’m open source!