Heather Scoffield, Toronto Star reporter, has published an excellent article regarding the disparity between the rich and the poor in Canada.
[Access Scofield article -> SOLITUDES ]
The essence of Scofield’s article is that the rich live in completely different worlds than the poor. She provides numerous statistic and much data to reinforce that the two solitudes are worlds apart.
The RICH
The rich not only are well offer but their become richer by being rich. They have access to better funds, liquid funds. They earn more money because they have money to invest and can buy better advice. Gains made by market improvements benefit the rich much more and more readily than the poor. The rich have access to tax loopholes and financial advice that readily, easily and better benefit them than the poor.
The POOR
The poor are disadvantage in every way when it comes to finances. Assets they have are usually tied up in their homes, if they have them. These assets are not easily accessed nor as profitable as the more liquid and more profitable stocks or bonds.
The Tax System
Our tax system targets income, favouring the rich. Additionally, the tax system is riddled with loopholes and special circumstances of which the rich take advantage and benefit.
Passivity of the majority
The 90% portion of the population are ‘non-rich’ though Scofield never states the criteria that determines membership in that part of society. One would guess that membership in that group requires assets in the hundreds of thousands of dollars. Certainly, the rich have no anxieties relating to employment, income, food, nor accommodation. Age is another factor that affects the poor negatively. Nevertheless, though they are the majority of society, the poor seem to be the most passive. They seem to rely on resilience rather than rebellion to affect change through political leaders.
The apathy of politicians
Poliiticians seem to ignore the state of the poor citizens. Few initiatives are legislated favouring the poor. Perhaps politicians have no recourse but to leave the economic disparity between the rich and poor continue. To take any initiative to help the poor could impact negatively on the support politicians get from the rich. Helping the poor guarantees election defeat.
We live in an unfair, unequal and biased society and it looks like nothing can be done about it.
