The Dominance of Canada's 1%

Hennessy's Index is a monthly listing of numbers, written by the CCPA's Trish Hennessy, about Canada and its place in the world. For other months, visit: http://policyalternatives.ca/index

• $201,400

  The entry point to become one of Canada’s richest 1% of income earners. In other words, if you make more than $201,400 you earn more than 99% of Canadian income earners. (Source) 

• 254,700

  Number of tax filers who ranked among Canada's richest 1% in 2010. (Source)

• 21

  Percentage of top 1% of Canadian income earners in 2010 who were women. That's 53,200 women, almost twice as many as there were in 1982 but the richest 1% still remains a boy's club. (Source)

• 4

  Number of provinces in which 92% of Canada's richest 1% of tax filers live: Alberta, Ontario, Quebec, and British Columbia. (Source)

• $320,000

  The pay increase Alberta's richest 1% of tax filers enjoyed since 1982, which represents a doubling of their income. The richest 1% in Alberta made 18 times more than the bottom 90%. It's the most unequal province in Canada. (Source)

• $297,000

  Average income increase for the richest 1% of tax filers in Toronto between 1982 and 2010. The bottom 90% in that city experience an income drop of $1,900, on average, during that period.  (Source)

• $189,000

  Average income increase for the richest 1% of tax filers in Vancouver between 1982 and 2010. The bottom 90% in that city experienced an income drop of $4,300 on average, during that period. (Source)

• $162,000

  Average income increase for the richest 1% of tax filers in Montreal between 1982 and 2010. The bottom 90% in that city experienced an income drop of $224 on average, during that period. (Source)

• 8

  The richest 1% of tax filers in Prince Edward Island make eight times more than the bottom 90%. PEI is Canada's most equal province. (Source)

• 0

  Number of provinces in Canada that reduced income inequality since 1982. (Source)

• 1/5th

  Amount of Canada's net wealth estimated to be in the hands of the richest 1% of Canadians. (Source)

• 25

  Number of families or individuals in Canada that Forbes' Magazine says hold more than $1 billion in assets. The top five are: the Thomson family ($17.5 billion); the Galen Weston family ($7.7 billion); the Irving family ($5 billion); Jim Pattison and Paul Desmarais (tied at $4.3 billion); and Ted Rogers ($1.7 billion). (Source)