Approximately 71% of income generated in Canada goes to corporate profit.

Name: Approximately 71% of income generated in Canada goes to corporate profit.
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Question

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This statement is false. According to Statistics Canada, in 2020, corporate profits made up approximately 8.4% of Canada's Gross Domestic Product (GDP). Therefore, approximately 92.6% of income generated in Canada goes to wages, salaries, and benefits for employees, as well as taxes and other forms of government revenue.

Approximately 71% of Income Generated in Canada Goes to Corporate