How Denmark’s welfare program has narrowed its wealth gap to one of the smallest in the world ….

The National Post | Financial Post

COPENHAGEN, Denmark — This is what it’s like to live in Denmark, a nation with a narrower wealth gap than almost anywhere else: You’ve been jobless for more than a year. You have no university degree, no advanced skills. You have to pay a mortgage. And your husband is nearing retirement.

Rich on a roll: Canada’s 1% are getting richer, but they’re earning it, OECD study shows

If you’re rich but would like to be richer then come to Canada.

That, in a nutshell, is one of the key findings of an OECD study that looks at the the richest 1% across the developed world and how they got their money.

You aren’t worried.

If you’re 51-year-old Lotte Geleff, who lost her job as an office clerk in January 2013, you know you’ll receive an unemployment benefit of 10,500 kroner (US$1,902) a month after taxes for up to two years. You’re part of a national system of free health care and education for everyone, job training, subsidized child care, a generous pension system and fuel subsidies and rent allowances for the elderly.

And high taxes.

Denmark’s sturdy social safety net helps explain why its wealth gap — the disparity between the richest citizens and everyone else — is second-smallest among the world’s 34 most developed economies, according to the Organization for Economic Cooperation and Development, surpassed only by the much smaller economy of Slovenia.

Behind its slender wealth gap are factors ranging from the highest tax burden in the European Union to a system that helps laid-off workers find new jobs and re-training.

How Denmark’s welfare program has narrowed its wealth gap to one of the smallest in the world | Financial Post.

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