Macdonald-Laurier Institute Senior Fellow Philip Cross discussed how the wealth of the middle classes is growing in a recent interview with CBC about income equality.
Cross disputes the narrative that says the richest Canadians are growing their wealth at the expense of the middle class.
Instead, he shows that the net worth of those in the middle income brackets in Canada is rising at a faster rate than for the richest one per cent of Canadians.
The middle classes are also taking a bigger share of the country’s $8.07 billion in net wealth, he says.
“This contradicts the whole narrative out there that wealth is only going to the rich people”, Cross says. “This shows that the middle class is actually benefiting disproportionately than the rest of the country”.
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