Printable version: History of low income 20160209 – Final
Income Hoarding By The Wealthy Is What Harms The Economy!
The increase of inequality is sounding alarm bells worldwide, including in Canada. As of 2012, the top 13% of after-tax income in Canada goes to the top 1% of income earners, while they took 8% in 1986. In addition, an enormous sum of $100,000 is added to their income each year through the private corporations that they control. According to Statistics Canada, in 2014, the average annual salary of the top 100 Canadian CEOs is $8, was deposited in overseas bank accounts to avoid taxes that very same year.
At the end of the day, a small group of people collect and hoard the largest amount of wealth without reinvesting and contributing to the Canadian economy or society. This is a reality that undermines the economy and propagates poverty. By increasing the minimum wage to $15 per hour, there would be a boost to the economy and an increase in employment opportunities.
If we include the rise in costs of goods and services, the minimum wage increased by only 1-cent from 1975 to 2013. It is astounding that the Quebec government would rather impose austerity measures than support workers in increasing the minimum wage to a livable wage!
It Is Time To Say “NO!” To Austerity Measures and
“YES!” To Increasing The Minimum Wage to $15 Per Hour!