Quote:
Originally Posted by I-Hate-Hulse
I found this incredibly surprising.....
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.
I thought the bar to a "5% of earners club" would be much higher than this. Don't get me wrong, $89K is an excellent wage, but it doesn't seem that lofty.
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5% is 1 in 20. All you have to do is go to the mall and see 99/100 workers making less than $50K. Construction workers, etc are making less than that.
Not really surprising at all when you consider how many people don't make a lot of money - including retirees and people just getting into the work world. $89K is not an excellent wage - it is more than most people would dream of realistically making.