OTTAWA, February 28, 2002 (LSN.ca) – A study on wealth inequality among Canadian families released last week reports that young couples (25-34) with children have suffered the most economically from 1984 to 1999.
While the net worth (assets minus debts) of families generally rose 10%, the net worth for young couples with children fell 30%. Young families with children, had a median net worth of $44,000 in 1984 but dropped to $30,800 by 1999. The report indicates that an increasing proportion of these same families were even worse off with no net worth – that is, their total assets were less than or equal to their total debts. The proportion of young families with children with no net worth rose from 10% in 1984 to 16% in 1999.
The study showed that the median net worth of Canada’s estimated 12.2 million families in 1999 was about $64,600. One-half of all families had net worth more than this figure, and half had less. Median net worth increased 56% to $126,000 among families in which the major income recipient was 65 or older.
Importantly the study found that wealth inequality “increased much more among couples with children and lone-parent families than among unattached individuals or couples with no children.”
The study confirms again the intensely anti-child affect of Canadian governments’ tax and income policies of the past few decades. Monetary and social support for families with children has drastically declined over the years in favour of one or two or no child, two-income, married or common law or homosexual social arrangements. Ironically, the children of the families that are having children will be the ones asked to pay for the massive social costs of the elderly childless generation. Severe economic and social problems are expected as a result of the government engineered aging of the nation.
See the complete study: “The evolution of wealth inequality in Canada, 1984-1999” at: https://www.statcan.ca/english/research/11F0019MIE/11F0019MIE01187.pdf