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Thread: Canadians Now Richer Than Americans

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    Canadians Now Richer Than Americans

    Also worth noting is that Canada scores higher than we do on the economic freedom index, and has been slashing their corporate income tax down to less than half of ours.

    While Americans might enjoy throwing politically-charged barbs at their neighbors to the north, Canadians now have at least one reason to be smug.

    For the first time in recent history, the average Canadian is richer than the average American, according to a report cited in Toronto's Globe and Mail.


    And not just by a little. Currently, the average Canadian household is more than $40,000 richer than the average American household. The net worth of the average Canadian household in 2011 was $363,202, compared to around $320,000 for Americans...


    To add insult to injury, not only are Canadians comparatively better-off than Americans, they're also more likely to be employed. The unemployment rate is 7.2 percent—and dropping—in Canada, while the U.S. is stuck with a stubbornly high rate of 8.2 percent.


    Besides a strengthening currency and a better labor market, experts credit the particularly savage fallout from the financial crisis on the U.S. economy and housing market, which torpedoed home values and gutted household wealth. According to the report, real estate held by Canadians is worth more than $140,000 more on average and they have almost four times as much equity in their real estate investments...

    Gosh, I wonder how they got better than they used to be.

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    Re: Canadians Now Richer Than Americans

    Quote Originally Posted by cpwill View Post
    Also worth noting is that Canada scores higher than we do on the economic freedom index, and has been slashing their corporate income tax down to less than half of ours.




    Gosh, I wonder how they got better than they used to be.
    Of course they do. Decades of Republocrat rule has created the new aristocracy we see today, complete with Corporate Capitalism which comes with the shutting down of economic mobility and further concentration of wealth into the fewest hands. Thanks Republocrats, we all wanted to live in a fascist Oligarchy than a democratic Republic anyway.
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    Re: Canadians Now Richer Than Americans

    Quote Originally Posted by cpwill View Post
    Also worth noting is that Canada scores higher than we do on the economic freedom index, and has been slashing their corporate income tax down to less than half of ours.




    Gosh, I wonder how they got better than they used to be.
    It's probably because they spend more than we do on domestic social programs, such as a universal health care system, than they spend on defense.
    Also, we need to legalize recreational drugs and prostitution.

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    Re: Canadians Now Richer Than Americans

    I am not surprised. Canada has its stuff together. On the other hand every bartender and waitress in Florida and Arizona knows that Canadians don't tip worth a ****, eh?

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    Re: Canadians Now Richer Than Americans

    It might have something to do with all of those Americans going bankrupt from medical bills. Maybe we should follow those Canadians that you just now seem to be idolizing and actually socialize our medical care.

    Medical bills prompt more than 60 percent of U.S. bankruptcies - CNN
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    uh that is so small as to be stupid. Do you want registration? given less than 3% of criminals get their guns from private sales, its pretty much a waste of resources
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    you are confused. I never denied that many criminals get guns in private sales.

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    Re: Canadians Now Richer Than Americans

    Quote Originally Posted by samsmart View Post
    It's probably because they spend more than we do on domestic social programs, such as a universal health care system, than they spend on defense.
    exactly. our businesses would be a lot more competitive if they didn't have to buy overpriced private health insurance for employees. and imagine not having to go bankrupt over an unexpected health emergency.

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    Re: Canadians Now Richer Than Americans

    Quote Originally Posted by samsmart View Post
    It's probably because they spend more than we do on domestic social programs, such as a universal health care system, than they spend on defense.
    Definitely. Canadian health care mooches like no tomorrow on American R+D. The same goes for defense.

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    Re: Canadians Now Richer Than Americans

    Another lesson from Canada is that the rise of groups outside of the major political parties can pressure governments to make reforms. Canada's version of the Tea Party was the Reform Party, which arose in the early 1990s and pushed the major parties to support spending cuts, tax cuts, decentralization, and parliamentary reforms.

    The Reform Party elected numerous members to parliament in 1993, and it became the main opposition party in parliament in 1997. In the 2000s, the party went through structural changes and ultimately merged with the Progressive Conservatives to become the Conservative Party of current Canadian prime minister Stephen Harper.
    ^^^

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    Re: Canadians Now Richer Than Americans

    They also have a pretty stable housing market and you don't break the bank when you buy real estate. We have a big disconnect here when the average US salary is $45K and the average house is around $175K. If someone went into a bank making that and tried to buy the average house without a huge downpayment the bank would escort them to the door. It isn't even possible to buy a starter home anymore and acquire equity because they aren't selling either.

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    Re: Canadians Now Richer Than Americans

    Quote Originally Posted by Helix View Post
    exactly. our businesses would be a lot more competitive if they didn't have to buy overpriced private health insurance for employees. and imagine not having to go bankrupt over an unexpected health emergency.
    Yup.

    A universal health care system would be much better for businesses, especially small businesses, that the monstrosity we have now.
    Also, we need to legalize recreational drugs and prostitution.

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