Paul Martin's Business Update - December 10th

Paul Martin's Business Update - December 10th

Despite claims from the Vatican that trickle-down economics does not work, the latest tax filer data on Saskatchewan residents says it does.

No one disputes that this province has seen significant economic growth in the last decade but there are some who suggest the upturn has been limited to the highest of income earners. Well, that is not what the tax data are telling us.

StatsCan has just released an assessment of income distribution based on tax returns filed for the 2011 taxation year. Those in the top half of the income spectrum saw their incomes and their share of the economic pie rise from 2010 to 2011. To qualify in this stratum, you had to have income of just over $29,000 a year. So, it is a fairly liberal test.

Those in the top 10 per cent – making $84,000 a year or more – also saw an improvement. So did those in the top five per cent. The only ones with a decline were in the top one per cent, meaning those protesting the one per cent are chasing a shrinking target.

#canada #business #radio #report #news #martincharltoncommunications #paulmartin #wetellyourstories #vatican #statscan #economics #wealth #tax