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Getbig Main Boards => Politics and Political Issues Board => Topic started by: 24KT on April 22, 2014, 07:23:48 PM
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Canada's middle class now richest in the world
(http://www.ctvnews.ca/polopoly_fs/1.1584157!/httpImage/image.jpg_gen/derivatives/landscape_620/image.jpg)
A Canadian flag attached to a ski pole is waved on Parliament Hill in
Ottawa on Monday, April 15, 2013. (Sean Kilpatrick / THE CANADIAN PRESS)
Published Tuesday, April 22, 2014 5:04PM EDT
A report published in the New York Times on Tuesday reveals Canadians – not Americans – now boast the richest middle class.
“After-tax middle-class incomes in Canada – substantially behind in 2000 – now appear to be higher than in the United States,” says the report.
Canada is tied with Britain for the most growth in middle-class earnings since 2000, and has now pulled ahead of the U.S. to boast the wealthiest middle class in the world. Canadian middle-class earnings have gone up nearly 20 per cent, while American earnings have remained virtually the same since 2000.
The New York Times has been gathering income data for the last 35 years. The last report, released in 2010, saw Canada tied with the U.S. Now, for the first time in the history of the study, Canada is on top.
The study measures after-tax cash income to determine how much each country’s middle-class workers are earning.
Douglas Porter, chief economist and managing director for BMO Nesbitt Burns, said the rise of Canada’s middle class should be viewed in relative terms.
“It says as much about how badly damaged the U.S. economy was during the recession as it is necessarily a positive mark for Canada,” said Porter.
While most countries have displayed some measure of middle-class growth, the economic recession that began in 2000 has essentially paralyzed middle-class earnings in the U.S.
Porter said the hit to the U.S. construction and manufacturing industries was particularly damaging to the American middle class.
“It was a classic boom-bust, although in their case it was almost like a couple booms and a couple busts-- the second worse than the first,” Porter said.
That bust has let other countries catch up, including many European nations. Britain, the Netherlands and Sweden have all drawn closer to the U.S. in middle-class earnings.
The report also shows families with below-average incomes in Canada, Sweden, Norway, Finland and the Netherlands now make significantly more money than Americans in the same range. “Thirty-five years ago, the reverse was true,” says the report.
But Americans at the top of the pay scale still earn more than the rest of the world, with the U.S. a full 20 per cent ahead of Canada at the highest income bracket.
Porter said the U.S. maintains the strongest top-end earners because that’s still where the world’s most-talented executives, athletes and celebrities choose to live.
“Basically, talent, ability and fame benefit tremendously,” he said.
The U.S. once led the pack in almost all income brackets, but since the first study in 1980, earnings in America have steadily eroded until only the richest remain on top
Read more: http://www.ctvnews.ca/canada/canada-s-middle-class-now-richest-in-the-world-report-1.1787386
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Progressive economics sucks!
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great, now tell me about the price of the houses in TO, Van, etc that they can buy with all this extra money. ::)
with their natural resources, if Canada was actually a bit more socialist they could probably afford to scrap income taxation and give a free ride to the whole population instead of the segment that protests the loudest about 'white man took our land'
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Funny, I don't feel rich.
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they must have done it through less government, lower taxes, and free market health care.
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they must have done it through less government, lower taxes, and free market health care.
And focusing on actual problems, no abortion, gay rights or other non sense.
The US has become Lazy.
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And focusing on actual problems, no abortion, gay rights or other non sense.
The US has become Lazy.
holy shit - for once you got it right
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Sad. America sold out its own people when our politicians turned their back on protectionism/economic nationalism and embraced the free trade/globalism bullshit. Our entire manufacturing base-backbone of the middle class- got shut down or outsourced. All the ones responsible should be hung for treason for the selling out of the america people
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holy shit - for once you got it right
It is the way I have always felt, they are non issues. Fuck off telling people what to do, if someone wants to abort in a reasonable time, that's their decision. Also, let people fuck who they want, who gives a fuck, it won't make them work less hard, contribute less or eat your kids.
that's all the US is, peripheral issues to distract.
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It is the way I have always felt, they are non issues. Fuck off telling people what to do, if someone wants to abort in a reasonable time, that's their decision. Also, let people fuck who they want, who gives a fuck, it won't make them work less hard, contribute less or eat your kids.
that's all the US is, peripheral issues to distract.
Creating political brainwashed soldiers who exchange reason and objectivity for hating the other side while our government continues to be bought and paid for and our coffers raided.
Just look at many on this very forum if you want to know who some of these soldiers are.
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Jag...make yourself useful. I need a powerlifting or strongman gym in Vancouver for about a week in June...any recommendations.
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What exactly are the "After-tax middle-class incomes in Canada"?
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What exactly are the "After-tax middle-class incomes in Canada"?
I would say that 60k per year and maybe 100k per household is middle class.
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I would say that 60k per year and maybe 100k per household is middle class.
Thanks, although that doesn't sound like "after tax" income?
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great, now tell me about the price of the houses in TO, Van, etc that they can buy with all this extra money. ::)
with their natural resources, if Canada was actually a bit more socialist they could probably afford to scrap income taxation and give a free ride to the whole population instead of the segment that protests the loudest about 'white man took our land'
'The white man DID take their land' ...and life on a native reserve is hardly what one could call a "free ride".
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Funny, I don't feel rich.
Go look at your gold stack, ...and envision your life a few years into the future! Feeling rich now? :P
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And focusing on actual problems, no abortion, gay rights or other non sense.
The US has become Lazy.
We went through our abortion debate back in the 1970's thanks to Dr. Henry Morgenthaler.
After seeing too many women die from botched abortions & complications, he made it his mission to once & for all ensure that Canadian women had access to safe abortions conducted by qualified medical doctors.
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Jag...make yourself useful. I need a powerlifting or strongman gym in Vancouver for about a week in June...any recommendations.
Sorry HH6, I'm in TO. That's like asking someone in NewYork to recommend a gym in LA.
...oh wait, ...there might be a Curves on the west side. :P
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i dont know how the canadians spend their time making laws...
but I'm guessing they don't launch hundreds of bills they know will fail, just to make a point or get 'on the record' so they can brag they personally voted for this anti-wedge issue bill some 125 times in their 2 years in congress lol...
we waste so much time with these pointless bill that repubs intro every week, same issue, same point, just so they can hold it up and say "Look, I tried..." They don't get anything done, no legislative achievement to talk about. They brag about their goal of shutting down govt, mucking evreything up.
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Canada is a beautiful place with nice people but so damn cold
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what is average monthly net income in USA?
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Australia's working class is the richest in the world because their minimum wage is $16 an hour!!
I dated a native girl for a while when I lived in TO, their cost to the taxpayer would be a lot worse but most drop out of high school and never take the free college, business etc start up money the government offers them.
The costs of the make work-schemes (fishing etc), guilt money for "stolen" land and benefits are astronomical and unless you're being obtuse obviously It goes far beyond just reservations. My wife's "native" cousins are whiter than I am but still qualify thanks to the ridiculous laws
I remember when the globe and mail ran an article on the growing urban native population and the only concern was "how do we pay for them?" Talk about a destructive, white guilt created culture of dependency.
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Thanks, although that doesn't sound like "after tax" income?
It's not I put before tax. my bad.
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The average before tax salary in one place vs. another means nothing without taking into consideration the tax rate. You can earn less in one place, and yet be able to afford a heck of a lot more and nicer stuff on your salary than someone who earns a lot more money where taxes are higher.
Likewise, the average after tax salary in one place vs. another means nothing without taking into consideration the cost of living. You can earn less in one place, and yet be able to afford a heck of a lot more and nicer stuff on your salary than someone who earns a lot more money where the cost of living is much higher.
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The average before tax salary in one place vs. another means nothing without taking into consideration the tax rate. You can earn less in one place, and yet be able to afford a heck of a lot more and nicer stuff on your salary than someone who earns a lot more money where taxes are higher.
Likewise, the average after tax salary in one place vs. another means nothing without taking into consideration the cost of living. You can earn less in one place, and yet be able to afford a heck of a lot more and nicer stuff on your salary than someone who earns a lot more money where the cost of living is much higher.
I am not rich but I make maybe 200k a year give or take. I lose 50% of my income roughly. It's close to the highest tax bracket, I don't think it goes much higher then that. There are also ways to avoid taxes with capital gains etc..
The cost of living in my area for a nice house, maybe 2500sqft is 4-6hunk depending on the finishes, lot size etc. Places like BC are absurd. You can buy a shanti for maybe 500k.
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Progressive economics sucks!
yes, with Canadian socialized medicine for all.
higher taxes on the rich.
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yes, with Canadian socialized medicine for all.
higher taxes on the rich.
Right - cause higher taxes leads to prosperity
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Right - cause higher taxes leads to prosperity
Well, ...at least in Canada it does. We actually get something for our taxes. :D
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Well, ...at least in Canada it does. We actually get something for our taxes. :D
Tell me more about this wonderful country! like all the free drugs you must get with that "free" health care system?. Oh, what's that? you have to buy a drug plan to get prescription meds?
And tell me about those great deductions you can make on ca federal or provincial taxes, like mortgage interest, property tax etc! And all the breaks the state gives to old people, like reducing their tax burden for owning a home? Those must be very generous since Canada values it's older citizens.
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Tell me more about this wonderful country! like all the free drugs you must get with that "free" health care system?. Oh, what's that? you have to buy a drug plan to get prescription meds?
And tell me about those great deductions you can make on ca federal or provincial taxes, like mortgage interest, property tax etc! And all the breaks the state gives to old people, like reducing their tax burden for owning a home? Those must be very generous since Canada values it's older citizens.
why would drugs ever be free? if you go to a hospital they are free, if you need a prescription you pay, no amount of tax dollars could cover that ime.
Plus they are private companies who make these drugs. Moot point.
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But the UK can give anyone free or super subsidized drugs on the NHS and the country carries roughly the same debt per person as Canada... but has nothing like as many natural resources to share with it's people.
Are Canadians selfish? Don't they want people to have access to life saving drugs?
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But the UK can give anyone free or super subsidized drugs on the NHS and the country carries roughly the same debt per person as Canada... but has nothing like as many natural resources to share with it's people.
Are Canadians selfish? Don't they want people to have access to life saving drugs?
Canadians who need drugs always have access to life saving drugs.
In the event that one may need a new experimental drug, they always get it,
...as in the case of that little girl the other day, when the province rushed to have it covered.
Canadians of lower means are able to get prescription drugs covered by health insurance or gov't drug benefit
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But I don't understand! My wife's uncle had to leave Canada and move back to the UK because as a diabetic they wouldn't cover his insulin or other meds - and his family went bankrupt trying to run a small business in the country with the wealthiest middle class.
It's so odd, why did he not understand that there was free medication for him if he only needed it? the government would have paid for it?
I bet he'll feel really silly when I tell him that!
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Right - cause higher taxes leads to prosperity
And less government and universal health care also lead to it.
Not that reality has anything to do with it.
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But I don't understand! My wife's uncle had to leave Canada and move back to the UK because as a diabetic they wouldn't cover his insulin or other meds - and his family went bankrupt trying to run a small business in the country with the wealthiest middle class.
It's so odd, why did he not understand that there was free medication for him if he only needed it? the government would have paid for it?
I bet he'll feel really silly when I tell him that!
You usually have to apply for said things. Also, if he was making enough he should have had health insurance.
Im sure it was the diabetes which pushed him over. Sounds like a stupid person, he didn't check to make sure his chronic illness would be taken care of before moving and starting a life? did he do no fucking research? sounds like a idiot.
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Well, ...at least in Canada it does. We actually get something for our taxes. :D
Yes,.. "Natives" who don't pay any. :P
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But I don't understand! My wife's uncle had to leave Canada and move back to the UK because as a diabetic they wouldn't cover his insulin or other meds - and his family went bankrupt trying to run a small business in the country with the wealthiest middle class.
It's so odd, why did he not understand that there was free medication for him if he only needed it? the government would have paid for it?
I bet he'll feel really silly when I tell him that!
Yes, I'm sure he will. Most residents especially "main stream" residents are not always aware of the vast resources available to assist them. This knowledge is often restricted to the very rich who are often aware of every resource/loophole from which they may derive benefit (due to an army of professionals designed to save/make them money) or to the very poor or new comers, who receive counselling that informs them of the various resources available to them in their new country. Diabetic supplies are generally NOT covered, however, an individual who lacks the means can have this covered. What province did he live in?