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In this episode, we discuss how the world's wealthiest 1% accumulated $42 trillion in brand-new wealth over the past years, advancing worldwide inequality. Learn about the call for a worldwide tax on billionaire wealth and the impact of these variations on democracy and the world.
Also in this episode:
The Bank of Canada's rate cuts intend to deal with economic slack, with more decreases anticipated to support development.
Over 80% of new condominium investors in Toronto are losing cash, causing the most affordable sales in 27 years.
Walmart Canada raises incomes for 40,000 employees, investing $53 million to support its staff members amidst economic challenges.
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What tribe makes up the 1%?
Huh, didn’t see that one coming. Oh no, wait. Yes we did.
.Governments are not Robin Hood.
@@RouRoroBig government overtaxing, spending, and money printing is the problem leading to inflation.
I watched a CBC story on Toronto condos and how small they are, what market they are geared for.
“deep structural changes” – i.e., overthrowing capitalism
Celine Dion 2m wasn’t taxed
What a relief. I thought you, as a “serious” economic commentator, were just about to try to justify the trend. Respect.
The rental market is very unique to its territory. i have a 4plex in MTL and trust me, its paying off the morgage… and some.
condo’s are probably different i guess.
Thanks for the great video Marc!
That’s crazy the people that wanna make money made money and the people that like to spend money are still broke. I just don’t get it.
As a wise man once said “Get good noobs”
sounds like communism to me
Tax billionaires how? They are paper billionaires, money is tied up in the market or assets they hold. They pay no income tax because they take no income. They take loans against their assets and pay interest. So what are you going to tax? And yes they pay lots of taxes, just not income tax!
YOU might be in the 1% …. you are mixing up the 1% and the 0.1% … (not long ago) 1% is about 1-1.5 million (U.S.$) it is higher now …. i edited this after looking
billionaires are in the 0.1% Most 1% ‘ers don’t think of themselves as ‘rich’ … but it is all relative’ (to the rest of the world)
Honestly speaking, this current generation has a chance to be the most informed and wealthiest due to the ease of investing and information where most of us had no access to in the 90s and 2000s. Even when the tfsa came out at first you couldn’t buy anything other than gics or a simple savings account. There are plenty of adult kids making good money living with their parents and are due to inherit that wealth. If you are saving and investing at home taking advantage you should be good to go. In the end governments are not putting any emphasis on personal finance and investing probably due to politics and being reliant on the government. It is mind boggling how little time if any is paid to it and it needs to be up there next to reading and writing and math as a core subject from elementary.
Yes, and we’re all here studying this subject, but it’s such a boring, mundane subject to study isn’t it? The mechanics of moving capital and increasing it, I mean. And, if those kids that start early do not have rich parents, or were born in a 3rd world country, even if they get good at the skill of investing, they simply might not have the initial capital to start, or the credit to take a loan. And even doing that, is still a big leap and a lot of work that might end catastrophically and bankrupt them. Often it also produces nothing for society. It can be rather parasitic in terms of GDP. Unless they decide to research, manufacture or farm.
Should we really be playing this game with complex rules and wasting so much of humanity’s energy? Should we really be letting long-time players control all the cards?
You get what you promote
Why do act like a billionaires wealth in shares for a company is somehow income they have earned every year?
this is unfair, the youth cant even find jobs, they should put a cap on how much wealth one can have