1% Reacts to Occupy Canada

They call themselves the 99-percent, the regular people whose lives and livelihoods are influenced and determined by the powerful 1-percent, where the wealth of the nation is concentrated. The 99-percent took to the streets across Canada this past weekend. Today we take the pulse of that one percent.

Part One of The Current


It's Wednesday, October 19th.

Politicians and law enforcement in Texas say they know from experience that Prime Minister Harper's proposed tough-on-crime measures don't work.

Currently, Harper shot back that his Crime Bill does work in the way that really counts ... getting re-elected.

This is the Current.

1% on Occupy Canada - Panel

If you're lucky enough to earn more than $400,000 a year, the Conference Board of Canada suggests you're quite rich. In fact, the roughly 250,000 of Canadians are the richest one per cent of all Canadians.

In cities across the Canada - and the world - protestors are emulating the kind of demonstrations that began with the Occupy Wall Street movement. The concerns are as varied as the protestors. But a dominant theme is anger that a small proportion of powerful people hold the majority of society's wealth -- and they seem to be getting richer.

Today we were joined by a panel of those people - the ones who the protesters might call the "one percent- ers." Terry Campbell is the President of the Canadian Bankers Association. Jocelyne Cote-O'Hara is a businesswoman who has served as a CEO and as a Corporate Director on several public and private boards. They were in our Toronto studio. And you might know W Brett Wilson as a former 'Dragon' on CBC TV's Dragon's Den. But he's also the Chair of Canoe Financial. And he was in Hope, B.C.

And just one last word before we leave this topic. We mentioned that in Canada, you have to make more than $400,000 to be among the richest one percent in the country. Well, here's a sobering figure to add to that...

According to the website Global Rich List, if you make 55 thousand dollars a year or more, you're in the top one percent in the world. In fact, the site estimates if you made just one thousand dollars last year -- you're still richer than half the people on earth.

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