At first glance, the numbers are hard to reconcile with data showing that Canadians became much wealthier during the pandemic. But the rise in household net worth was largely due to a boom in housing and stocks, leaving behind those with lower incomes and few financial assets. In Ontario, only about 6 per cent of food bank users are homeowners.
The households of greatest concern, particularly in urban areas, are those that face higher rental and food costs combined with static income, such as social assistance. Ontario, the most populous province with nearly 15 million people, is a case in point. Food bank use has been on the rise since 2017, stoked in part by rising shelter costs for some of the province’s most vulnerable residents.
So it just goes to prove Canadians had it better 20 years ago. Where is the middle class today. It is almost totally wiped out and the costs of basic living are beyond more than 70% of the population when looking at rent, mortgage, car payments, food clothing basic transportation
THE NEW CANADA: 2 classes of people. The asset holders and the working poor.
Financial education in schools is now becoming absolutely necessary. But then there’ll always be someone who’s religion, beliefs or something will be offended. We are a bloody crazy society. Canada
Basic Income.
This is proof that the practice of heavily taxing & redistribution of $ doesn't work. It only applies upward pressure to cost of living. Stop creating costly programs that don't achieve results. Maybe gov't should think like a for profit biz so they start respecting each dollar.
Capitalism needs proper regulation to make sure it functions to serve everyone and not just a select few. That is the problem and what is driving the wealth gap!
Carbon tax working as intended. We are supposed to collapse our economy, energy and sovereignty to 'make it fair' since we can't raise the standard of living of the 3rd world. Runaway inflation, unemployment, and rising poverty are signs the tax is working!!!