Monday, September 24, 2007

What means this "rich"?

An income of at least $89,000 was needed to be in the top five per cent of earners in 2004, Statistics Canada said Monday.

This "five per cent club" earned 25 per cent of the income Canadians
declared in 2004 — up from 21 per cent in 1992. They paid 36 per cent
of the personal taxes collected in 2004.

The country's 1.2 million high-income earners — those among the top
five per cent — were predominantly male (75 per cent), aged 45 to 64
(54 per cent) and married (78 per cent), Statistics Canada said.

That's what rich is--the consumption of an inordinate share of the available resources. 89K means you are in teh top 5% of income earners--and that means you consume 25% of the available pie.

But in Amerika it's different:

In the U.S., an income of at least $165,000 was the requirement to join the "five per cent club."

Statistics Canada said the income differences between the two
countries became even bigger farther up the income distribution ladder.

In Canada, the top .01 per cent of income earners made at least $2.8
million, while in the U.S., you couldn't join that super-elite club
unless you had an income of at least $9.4 million.

Keeping in mind the differences between the two countries, of course.....

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