Wealth Inequality in Canada

WE NOW LIVE IN A WOLRD OF HAVES AND HAVE NOTS

  • Canada is in the bottom quartile of peer countries in terms of wealth disparity.

 

WE ARE ENTERING A NEW ERA OF MASSIVE INEQUALITY

  • Wealth inequality in Canada has increased over the past 20 years.
  • Each year the Canadian middle-class loses its’ share of total income while wealthier income groups increase its’ share.

 

THE 3 BIGGEST COSTS FOR CANADIANS: 1) TAXES, 2) HOUSING AND 3) LABOUR

 

THE AVERAGE MIDDLE-CLASS CANADIAN PAYS 27% INCOME TAX

THE WEALTHY PAY PAY ON AVERAGE 15% INCOME TAX

 

THE MIDDLE-CLASS IS OBSESSED WITH CUTTING COSTS BUT THE TRUTH IS THAT ONLY THREE MATTER: 1) TAXES 2) HOUSING AND 3) LABOUR

THE ONLY WAY TO ESCAPE BEING A HAVE NOT IS TO REDUCE THE ONLY THREE COSTS THAT MATTER.

THE MIDDLE-CLASS SHRINKS BECAUSE IT HAS NO PRIORITIES AND WASTES ATTENTION (DECISION FATIGUE) ON DECISIONS THAT MAKE LESS THAN A 10% CHANGE IN THEIR TOTAL INCOME.

Priorities

  1. Sell something worth buying, with a story worth telling
  2. Target it for small groups of people (you can not compete with Coca-Cola)
  3. Tell a story (like above) that matches the delight of those small groups
  4. Promote the word
  5. Produce at an elite level, in terms of both quality and speed to build up the brand (personal and business) and inspire confidence and trust.
  6. Plot the worst possible outcome and reverse engineer the opposite outcome.
  7. Get paid by project but pay others by the hour

Qualitative > Quantitative

$3 million earned through investments (real estate, stock, crypto) will never have the same value as $3 million earned through the diligent execution of your craft because of the uncertainty in the former.  Therefore, the only investment that matters is the money you spend into turning your craft into a business.

 

 

 

 

 

 

 

 

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