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Why might person earning $50,000 in annual income today [measured in 2011 Canadian dollars] be better off than a person earning $1,000,000 in annual income

Why might person earning $50,000 in annual income today [measured in 2011 Canadian dollars] be better off than a person earning $1,000,000 in annual income [measured in 2011 Canadian dollars] 100 years ago?

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