Top income shares in Canada: recent trends and policy implications
AbstractAccording to Canadian taxfiler data, over the last thirty years there has been a surge in the income shares of the top 1%, top 0.1% and top 0.01% of income recipients, even with longitudinal smoothing by individual using three- or five-year moving averages. Top shares fell in 2008 and 2009, but only by a fraction of the overall surge. Alberta, British Columbia, and Ontario have much more pronounced surges than other provinces. Part of the Canadian surge is likely attributable to U.S. factors, but a comprehensive explanation remains elusive. Even so, I draw implications for policies that might achieve some support from across the political spectrum, including the elimination of tax preferences that favour those with high incomes, the promotion of shareholder democracy and, to maintain Canada's relatively high intergenerational mobility, continued wide accessibility to healthcare and education.
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Bibliographic InfoArticle provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 45 (2012)
Issue (Month): 4 (November)
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Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
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Other versions of this item:
- Veall, Michael R., 2012. "Top Income Shares in Canada: Recent Trends and Policy Implications," CLSSRN working papers clsrn_admin-2012-25, Vancouver School of Economics, revised 29 Oct 2012.
- Michael R. Veall, 2012. "Top Income Shares in Canada: Recent Trends and Policy Implications," Department of Economics Working Papers 2012-11, McMaster University.
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
- H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
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- Andrew Sharpe & Evan Capeluck, 2012. "The Impact of Redistribution on Income Inequality in Canada and the Provinces, 1981-2010," CSLS Research Reports 2012-08, Centre for the Study of Living Standards.
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