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My question of the decade:
The middle class has decreased from 60% to 44% of the total population. The richest 10% earned an average of $136,737 in 1996.
About one generation earlier — back in 1973, the poorest 10% earned about 1/21 of what the richest ten percent of the Canadian population earned. By 1996 this ratio had collapsed by a stunning 1,200 percent!
In 1973 about a third of the poorest families had regular work. In 1996 the amount of income from earnings was about 8% of the 1973 figures without adjusting for inflation!
The consumer savings rates have dropped from about ten percent of after tax income to virtually zero over the past ten years.
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Using Government figures for the average family, after tax income dropped by 9.218 percent between 1989 and 1995.
Since 1989 the average debt-to-income ratio has increased from about 75 percent of earnings to more than 100 percent of earnings!

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