The Wealth Gap

According to the Broadbent Institute in 2012 the richest 20% of Canadians owned 70% of the country's wealth. In it's opinion a great inequity, and I tend to agree. But, do I care much about it? No, not really. Why should I?

Why should I care what others have? You know who I'm concerned about? Me. Do I care that you drive a Mercedes SUV and live in a 3,500 square-foot house in Richmond Hill? Well sure, I'm a bit jealous. But, in the big picture, it doesn't really matter.

What matters is that I have a roof over my head, clothes to wear, food to eat and a car to drive. And why do I have these things? Partially because of the generosity of my parents and partially because I'm a cheapskate.

My socks have holes in them. Of course I have good ones without holes if I'm going over to someone's house and I'll be walking around in them. I buy Fruit of the Loom underwear from Walmart. I may buy one or two pairs of new shoes a year on average. Rather than take the subway home I sometimes walk 7 kilometres from downtown.

I rarely buy new clothes. Especially since I just deliver towels for work for my friend, Sid. I wear the sports shirts I've acquired over the years from Cornerstone Sports Night and Ultimate. They're practical and functional.

Now I'm not saying we shouldn't have a social network that helps the poor. Of course we should. I'm all for it. And I believe in Universal Healthcare, a hallmark of Canada. But, I also think people have to take some responsibility for their own financial success or lack thereof.

My friend, Markus, works at the LCBO. He's told me stories about people who are just plain stupid with their money. There was the one young lady who bought a $300 bottle of whiskey or something. My friend thought this was a little extravagant and asked her what she did for a living. Turns out she was just a clerk at a law firm or something. This was a gift for her boss, a woman she really liked. A nice gesture, but I think her boss would have been just as happy with a present that cost half as much.

Then there was the fellow who came in to buy some booze and had his credit card denied. He then tried to put it on his debit card which also barely had any money left in his account. So desperate was he for alcohol that he asked if he could put half on his credit card and half on his debit. Are you kidding? You don't have any money. Walk out of the store; pay off your debts; then come back when you're good and ready.

Some people just aren't very bright. In a recent news item Canadians, on average, were $21,000 in debt, not including mortgages. $21,000! I'm sure part of that included student loans which I consider to be a relatively good investment depending on your field of study. But, I'm sure part of that debt incurred included car loans and credit card debt for things you really didn't need.

All I'm saying is take a look at yourself before comparing what you have to what others have. Because what others have really isn't the issue is it?