Most Canadians think of themselves as middle class. In fact, the term is so elastic that politicians know they have just about everybody’s ear when they talk about “middle class” goals and aspirations. We think they are talking to us, whether it’s about wage increases, debt, taxes, or savings vehicles to help us save for our kids’ post-secondary education.
How do we define the middle class? Depends on who you talk to. Bank of Canada governor Stephen Poloz last year said the term applies to those people who hold most of their wealth in the equity of their homes. Meanwhile, Prime Minister Justin Trudeau described the typical middle-class Canadian family as one with $90,000 in household income.