Photo by Chris Bolin for the Globe and Mail
ANNA MEHLER PAPERNY AND TAVIA GRANT
Friday, May 06, 2011 – Globe and Mail
Behind corridors lined with contemporary Canadian art, sitting at a dark wooden table in his downtown Toronto office, Ed Clark offers some economic advice that might not typically come from Bay Street.
Give the poor a tax break.
“I say, ‘Why don’t you cut the taxes of the most overtaxed people?’ It isn’t Ed Clark,” the Toronto-Dominion Bank CEO said in an interview earlier this year. “It’s the people at the low end, because they face the highest marginal tax rates.”
Photo by Peter Power/The Globe and Mail
Wednesday, December 15, 2010 – Globe and Mail
ANNA MEHLER PAPERNY
TORONTO — Toronto is becoming a city of stark economic extremes as its middle class is hollowed out and replaced by a bipolar city of the rich and poor – one whose lines are drawn neighbourhood by neighbourhood.
New numbers indicate a 35-year trend toward economic polarization is more pronounced: The country’s economic engine, which has long claimed to be one of the most diverse cities in the world, is increasingly comprised of downtown-centred high-income residents – most living near subway lines – and a concentration of low-income families in less dense, service- and transit-starved inner suburbs.
Three years ago, University of Toronto professor David Hulchanski published a paper on Toronto’s “Three Cities,” illustrating a growing socioeconomic disparity among the city’s census tracts.
But the three-way divide Prof. Hulchanski and his fellow Cities Centre researchers described is swiftly being reduced to two, according to a new paper they will release Wednesday. Toronto, a predominantly middle-class metropolis just three decades ago, is increasingly dominated by two opposite populations – one with an average income of $88,400, and another of $26,900.