What this study is trying to show is that there are two recoveries—one of which is a real economic recovery that is very weak and trapped in stagnation. Everyone—be they business people or workers attached to that economy—sees their income stagnate. They have a rising amount of debt that is not sustainable. That's the first part of the story. The debt I am talking about is not related to homes. I am not talking about real estate debt.
Let's now talk about the other part of the story. The financial economy is doing great, interest rates are very low and banks have recovered very quickly. The situation is great for everyone whose income is attached to that financial economy. You can see that most of the growth is headed in that direction. The bit of growth and the profit rate Erin was talking about earlier transform into financial income.
So if you depend on a financial rent in one form or another—stock options, dividends, capital gains, investments, and so on—you will be doing very well. Unfortunately, most Canadians live off their income. The figure of 0.01% represents people who live off that financial economy, and they are doing very well. The implemented tax policies helped them because their income is not taxed in the same way. As you know, $1 of income translates to $1 in taxes, while $1 of capital gains means $0.50 or $0.75 in taxes, depending on where it comes from.