Both countries have poor people but the Canadians have a greater problem than Cubans do :::
Re: “Rich get much richer in Canada,” April 3.
Canada’s 86 richest citizens own as much wealth as the poorest 11.4 million citizens, and this corrosive discrepancy has been growing rapidly under Canada’s Conservative government. Over the past 15 years, this pernicious inequality has grown by some 10 per cent.
Of the poorest 11.4 million citizens in Canada, about half a million have more debts than assets. Virtually all of the 86 extremely rich are not company executives, but are, or are related to, company founders.
Two weeks ago, Oxfam calculated that in the U.K., also under a Conservative (coalition) government, the country’s five richest families own more wealth than the poorest 20 per cent of the population, about 11 million citizens. This poisonous discrepancy has grown by five per cent over the past 13 years. Most of these five extremely rich families own their fortunes in Greater London real estate.
A similar onerous profile threatens most western democracies.
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