Aug 172012

Read an article in the Globe that paints a pretty clear picture of who the richest 1% are. In order to join this elite club an individual has to make more than $230,000 a year. Sounds like a lot, but it’s still lower than what’s needed in the United States which is $380,000. Before we criticize these greedy pigs let’s take a look at some key points from the study.

  • Over half of them work more than 50 hours a week (o.O)
  • 58% of them have at least a bachelor’s degree. But only 19% of the entire adult population are university graduates.
  • Only 10% of these top earners work in the financial/insurance industry, despite getting the most heat from the public.
  • Only 17% of them are women
Most of us in the general population work around 35 to 45 hours a week. If you work more than 50 hours, you are in the top 20% of the hardest working folks in Canada.  A $230,000 salary translates into less than $150,000 of take-home pay here in BC. Sure that’s still a lot, but if I lived in a dual income household where my partner made as much as I do right now, then our combined after tax income would equal more than half of $150,000. So if a top 1% earner spends $100 on dinner, then we would spend maybe $50 or $60. Instead of buying a million dollar house we can only afford a $500,000 house. The quality of life for a top 1% earner and that of the average family’s isn’t that huge of a difference. Not even the 1% can have it all lol. I’m sure some of them lied, cheated, or didn’t work their way legitimately to the top.  But I believe many are diligent, hard working people and deserve what they get paid.

Random Useless Facts: Ok, not so useless today. Here are some innovative ideas to try out if you spend a lot of time cooking or being around food. Found this on awhile ago.