Re-evaluating Canada's Income and Wealth Equality

Strictly Money with Saijal Patel

In this episode, we delve into the surprising reality of Canada's income and wealth gap compared to its U.S. counterpart. Despite common perceptions, recent revelations from the report "Billionaire Blindspot" challenge the accuracy of data collected by Statistics Canada, shedding light on a previously overlooked aspect of economic disparity.

Join me as Dan Skilleter, the Director of Policy at Social Capital Partners and author of the report, shares insights derived from his extensive experience in policy advising. Gain a deeper understanding of the nuances shaping Canada's economic landscape and the implications for its citizens.

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TIMESTAMP:

00:00 Wealth inequality in Canada similar to US.

04:05 Statistics Canada surveys Canadians every few years.

06:33 US survey has better, more accurate data.

10:38 Popular measurement of income inequality in countries.

14:46 Capital gains tax rate increased to 66%.

19:09 Political argument with merit, but potential downside.

22:59 Challenges in accessing wealth data in Canada.

24:39 We sent data to the government strategically.

27:26 Questioning two-week pay cycle, suggesting daily pay.

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GUEST LINKS & RESOURCES:

Link to Billionaire Blindspot report: https://www.socialcapitalpartners.ca/scpreports

LEARN MORE ABOUT BMO ETFS (SPONSOR):

https://www.bmo.com/main/personal/investments/etf/

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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.

Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/

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Get in touch: https://saijelle.com/contact-us/

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