It’s worse than you think. The report behind the video hits these bullet points:

  • The top 10% of Canadians accounted for almost half (47.9%) of all wealth in 2012.

  • In 2012, the bottom 30% of Canadians accounted for less than 1% of all wealth; the bottom 50% combined controlled less than 6%.

  • The median net worth of the top 10% was $2,103,200 in 2012. It rose by $620,600 (41.9%) since 2005. In contrast, the median net worth of the bottom 10% was negative $5,100 in 2012, dropping more than 150% from negative $2,000 in 2005.

  • The top 10% held almost $6 in every $10 (59.6%) of financial assets, excluding pensions – more than the bottom 90% combined. The bottom half of the population held less than 6% of financial assets and the bottom 70% of the population only 16%.

  • The concentration of wealth for the top 10% is highest in British Columbia at 56.2% and lowest in Atlantic Canada (31.7%) and Quebec (43.4%). Wealth inequality is also, on the whole, least pronounced in Atlantic Canada and Quebec.

This didn’t happen by accident, it was the result of Canadians sitting back complacently while our governments gradually crawled back the welfare programs we put into place to combat the inequalities of previous years.

It’s time to get active.