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Author Topic: Canada's middle class now richest in the world  (Read 639 times)
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« on: April 22, 2014, 07:23:48 PM »

Canada's middle class now richest in the world


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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w
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« Reply #1 on: April 22, 2014, 08:09:49 PM »

Progressive economics sucks!
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« Reply #2 on: April 22, 2014, 08:12:33 PM »

great, now tell me about the price of the houses in TO, Van, etc that they can buy with all this extra money.  Roll Eyes


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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« Reply #3 on: April 22, 2014, 09:02:44 PM »

Funny, I don't feel rich.  
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« Reply #4 on: April 22, 2014, 09:10:18 PM »

they must have done it through less government, lower taxes, and free market health care. 
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« Reply #5 on: April 23, 2014, 08:09:08 AM »

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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« Reply #6 on: April 23, 2014, 08:20:50 AM »

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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JOHN MATRIX
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« Reply #7 on: April 23, 2014, 08:46:13 AM »

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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« Reply #8 on: April 23, 2014, 09:07:25 AM »

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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« Reply #9 on: April 23, 2014, 10:14:30 AM »

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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« Reply #10 on: April 23, 2014, 12:31:25 PM »

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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« Reply #11 on: April 23, 2014, 12:50:47 PM »

What exactly are the "After-tax middle-class incomes in Canada"? 
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« Reply #12 on: April 23, 2014, 05:15:36 PM »

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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« Reply #13 on: April 23, 2014, 05:17:56 PM »

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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« Reply #14 on: April 24, 2014, 02:48:46 AM »

great, now tell me about the price of the houses in TO, Van, etc that they can buy with all this extra money.  Roll Eyes


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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« Reply #15 on: April 24, 2014, 02:50:47 AM »

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?  Tongue
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« Reply #16 on: April 24, 2014, 02:56:04 AM »

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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« Reply #17 on: April 24, 2014, 03:01:42 AM »

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.  Tongue
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« Reply #18 on: April 24, 2014, 04:44:19 AM »

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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« Reply #19 on: April 24, 2014, 04:46:22 AM »

Canada is a beautiful place with nice people but so damn cold
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« Reply #20 on: April 24, 2014, 04:58:50 AM »

what is average monthly net income in USA?

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« Reply #21 on: April 24, 2014, 10:16:26 AM »

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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« Reply #22 on: April 24, 2014, 11:17:30 AM »

Thanks, although that doesn't sound like "after tax" income? 

It's not I put before tax. my bad.
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« Reply #23 on: April 24, 2014, 11:51:21 AM »

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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« Reply #24 on: April 25, 2014, 07:57:00 AM »

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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