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.
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.
SOURCES: The Broadbent Institute, 2014. "The Wealth Gap: Perceptions and Misconceptions in Canada".