Sadly its much easy then you want to believe.
VIII. Conclusion
Our new wealth distribution series reveal three trends. First,
wealth inequality is high and rising fast in the United States: the
top 0.1% share has increased from 7% in the late 1970s to 22% in
2012. Second, the wealth share of the middle-class has followed
an inverted-U evolution over the course of the twentieth century:
it is no higher today than in 1940. Third, the combination of rising
income and saving rate inequality is fueling wealth inequality.
The relative decline of middle-class wealth was apparent in
survey data, but the rapid growth of fortunes of dozens of millions
of dollars was not. Only the tip of the iceberg was visible from the
Forbes 400. Yet accurate inequality measures are important to
inform the public debate and calibrate tax policy. While the capitalization method sheds new light, more could be done to better
measure trends in wealth concentration
http://gabriel-zucman.eu/files/SaezZucman2016QJE.pdf
Sadly it would only take you a few minutes to confirm with a search on the internet that what I posted is exactly true.There are not to many Doctors who specialise in medical conditions who are willing to risk their reputation's writing off people who do not have a disability.
Still has more money then you. :)
What Gold Plated Jet do you own?
As for his income tax, in the US you can roll over you losses indefinitely so when he had those losses in the 1980's he was able to use them for 20 years. My understanding is he will soon have to start paying real tax.
I suspect you will find that Morneau probably pays very little tax. He most likely pay's himself dividends which are around tax at 15%.
Well. this has been a very interesting read. A lot of it is certainly not fitting with my experiences. My husband and I have worked with those on welfare (Ontario Works) or Disability for many years. Or sure there are some that are takers, but MOST just struggle to survive.
In Ontario you get $800. a month on welfare. The cheapest one bedroom in London is $1200. Hmmm... What do you do? You hit the streets or as one couple we are working with ( in their twenties) or you try to find a bachelor apt. (one room + a bathroom)..... oh and yes you'll need a co - signer. That costs $800. so with 2 people each has $400. left over. This has to go towards food , bus tickets and hydro. Yes, you might have a little left over for a 6 pak. but no cell phone or cable.
Another boy , fell 40 + feet from a bridge. Of course he applied for disability; still after many years, no luck. They tell him to get a computer job where he can sit.
Many kids from dysfunctional families also never finished high school. Try to get a job with not even a high school diploma.
I've only given 3 examples, but there are thousands of people in those boats.
I come from a dysfunctional family ; finishing high school was hard , but once I got out of the home I worked all day and went to UWO at night. I had the brains to be able to do that, but many don't. They struggle to survive every day.