Canada’s top one per cent earned 10.6 per cent of the nation’s total income in 2010, according to Statistics Canada numbers released today. This is down from a peak of 12.1 per cent in 2006 but a 37 per cent increase from 1982, when numbers were first recorded.
All the StatsCan figures are calculated in 2010 constant dollars.
Based on tax returns, the income gap between the top one per cent and the rest of filers has widened over time. The median income of one-percenters in 1982 was $191,600 — seven times the median income of $28,000 for the other 99 per cent. By 2010, the median income of the top filers had increased to $283,400, or 10 times the median income of $28,400 for everyone else.
The threshold for joining the one per cent in 2010 was $201,400, up from $147,500 in 1982. By comparison, it takes $386,000 to be in the top percentile in the United States.
For what it’s worth, the Canada’s highest earners are also paying more in taxes these days. In 1982, the richest one per cent paid only 13.4 per cent of federal and provincial or territorial income taxes. In 2010, the one per cent paid 21.2 per cent of all Canadian income taxes. So thanks for that, rich folks.