Forget all those doom-and-gloom articles about BC being a have-not province. BC leads Canada in the only number that counts – we have the most millionaires per capita!
It’s time to banish once and for all Toronto’s CN-tower-as-centre-of-the-financial-universe condescending image of BCers as backwater hewer-of-wood hicks and Birkenstocked green-peaced-out hippies. Wake up and smell the stock options, you Yorkdale yokels – BC’s millionaires control 30 percent more provincial wealth than Ontario’s!
And no jokes about BC’s top-rating in the bottom-line department being due entirely to our well-cached crop of BC Bud (or too much toking thereof). BC millionaires are an incredibly diverse bunch: hi-tech gameboys (Don “E=MyCash2 Arts” Mattrick), old-money sugar daddies (Stephen “Life is Sweet” Rogers), transplanted real-estate tycoons (Terry “Lil’ Ka-ching” Hui), ex-Olympian ski-hill moguls (Nancy “Gold-Grubber” Greene), media mini-magnates (David “No-Not-That” Black), conglomerated captains of industry (Jimmy “You name it, I own it” Pattison), and last but certainly not least, radically right-wing corporate-brown-nosing politicos (Gordon “Some of my best friends are millionaires” Campbell).
Some cynical smarty-pants may say that millionaires are irrelevant in today’s fast-paced world when it takes more than a billion just to get the application form for the Forbes rich list. But don’t let them rain on our greed-pride parade because, in BC, millionaires still matter. Our millionaires may not be tabloid magnets like Britain’s Royals, or White House owners like Texas Enron tycoons, or Starbucks-sippin’ stylish like Seattle’s Microsoft millionaires, but their hutzpah is more than enough to put us at the top of the heap in Canada.
BC’s millionaires are also good corporate citizens of our beautiful province. They have worked hard to make BC a better place by consistently and loudly demanding lower tax drains on high-flying wealth generators like themselves. Their tenacity and altruism has finally paid off in BC’s recent stratospheric tax cut. No doubt the stimulative effect of our millionaires’ increased spending on private jets and Whistler weekend mansions will trickle down to the rest of us very soon.
Millionaire Protection Plan
Gone are the days when BC governments ignored the plight of our long-suffering millionaires and then stiffed them with a crushing tax bill. Everyone was concerned that the jackbooted thuggish tactics of NDP regimes would drive our millionaires from their well-feathered nests and make them an endangered species in BC. Statistics Canada discovered in 1999 that millionaires made up a miserly three percent of BC’s families after a diabolical decade of NDP misrule. The need to act, and quickly, to save our vanishing rich was never greater.
What a difference an election day makes. Gordon Campbell won in a landslide because the public embraced his masterful plan to protect BC’s millionaires by enhanceing their traditional champagne culture and gated-mansion habitat. On their very first day in office, the BC Liberals showed they meant business, not just by delivering the largest tax cut in Canadian history, but, more improtantly, by targeting it specifically to benefit our oppressed millionaires.
Dispirited millionaires, who had been subjected to years of ritual financial abuse, finally woke up to the golden-fingered dawn of a new era. The timely deposit of $300-million a year by the Liberals into the nearly-empty nests of BC’s ultra-affluent will ensure they never have to go without pate fois gras or a shiny new BMW ever again.
And this is just the beginning of the Liberals’ ongoing dedication to bringing our millionaires back from the brink. Stay tuned for three more years of intensively nurturing the well-to-do until opulence flourishes once again in BC.
Did you know?
Based on Statistics Canada 1999 data:
* BC has 56,218 millionaire families, or 3.3 percent of our population – the highest proportion of any province in Canada.
* The average net worth of BC millionaires is a cool $2.7 million, also the highest in Canada.
* BC’s millionaires control an awesome 35.5 percent of our province’s total wealth.
* BC’s richest 10 percent are tops in Canada with an average net worth of $1,378,534 while our poorest 10 percent had a negative net worth of minus $8,126 – only $100 better off than the welfare bums in Atlantic Canada.
* The better half of BC’s population controls 96 percent of our province’s total wealth leaving only 4 percent for the bottom feeding 50 percent.
* Between Statistics Canada’s 1984 and 1999 wealth surveys, the richest 20 percent of Canada’s families increased their wealth 39 percent while the poorest 20 percent saw theirs decrease during those 15 years.
* And all this even before the BC Liberals’ righteous tax cuts that gave the top 3 percent of our earners 30 percent of the prize, about $300 million a year!