The Rich Get Richer

The Globe and Mail had an article on the super rich in Canada:

The super rich are, in one respect, not that different from ordinary Canadians: they work for their money. It”™s just that they”™re rewarded at a rate most people only dream of.

The top 0.01 per cent of Canadian income earners, the 2,400 people who earn at least $1.85-million, aren”™t just basking in investment income and business profits. Nearly 75 per cent of their income comes from wages, just like the average Canadian, according to a new study from the Canadian Centre for Policy Alternatives. The top 1 per cent, the 246,000 Canadians who earn more than $169,000, receive about 67 per cent of their income in wages.

To put the top 246,000 income earners into perspective, it looks as though Canada processed approximately 18 million tax returns last year. You can find that number somewhere here with a little extra math.

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