WHITBY, ONTARIO--(Marketwire - Dec. 17, 2010) -- Ontario Federation of Labour President Sid Ryan, unions and community members have just occupied Jim Flaherty's office, 701 Rossland Road East, Unit 204, Whitby, stunned by his last-minute betrayal of Canadians' retirement security.
On the eve of the Kananaskis provincial finance ministers' meeting, Flaherty has dumped the expansion of the Canada Pension Plan (CPP) and put all Canadians at the mercy of the banks, mutual fund and insurance industries.
Most Americans do not know it. When they hear it, many people do not believe it. Since the early 1980s, in the U.S., most income gains have gone to the top one per cent of income earners. From 2002-07, two-thirds of new income went to one per cent of Americans.
Going back further to measure the period from 1993 to 2008 and comparing, one-half of new income had gone to one per cent of Americans -- with 99 per cent of U.S. residents getting the same increase in income as the top one per cent (defined as those earning over $308,000 in 2008).