First, the Finance Minister quotes Bobby Kennedy and waxes romantic about public service and “working together” for the “public good.” Now, he expresses some sympathy for the Occupy Wall Street protestors.
Jim Flaherty says he can understand the “legitimate frustration” of Occupy Wall Street protesters in light of persistently high youth unemployment … “It really is a Wall Street proposal,” he told reporters prior to flying to France for key G20 meetings on the global economy. “In Canada we have a progressive income tax and it favours people with lower incomes who are vulnerable, quite frankly, in Canadian society. Our tax system is clearly progressive. Having said that I see a point that income distribution is important and that there is a concern that a very, very small group of people have very large incomes.”
While the present circumstance may not be as dramatic, income inequality is reported to be growing at a faster pace in Canada.