Five years ago, when The Times began The Upshotthe idea of exploring issues through a mix of traditional text, data visualizations, images and interactive features was still relatively new. Some of its experiments, notably election night needleswere instant hits. One of the earliest Upshot articles attracted a lot of attention in Canada. Along with David, I spoke with Canadians about their economic hopes and disappointments. Sign up. Both sides of canadians make more money than americans border have experienced economic changes, for better and worse, since. But the employment outlook is not uniformly bright across the country. And earlier this week I was in my hometown, Windsor, Ontario, where Fiat Chrysler Automobiles will eliminate a third shift at its minivan plant in September and lay off about 1, people. Economists sometimes use median income to define the middle class. Median income is the point at which half the families in a country earn more and the other half earns .
Canadians pay more — sometimes
The economies of Canada and the United States are similar because they are both developed countries and are each other’s largest trading partners. However, key differences in population makeup, geography, government policies and productivity all result in different economies. Canada placed first on Quality of Life, 2nd on Citizenship, 6th on Entrepreneurship, and 3rd overall. This article compares the economies of Canada and the United States based on GDP, debt-to-GDP ratio , inflation, unemployment, public debt , taxation, and purchasing power parity. In , Canada’s tax revenue to GDP ratio was The population of Canada in July was 37,, [4] while the population of the United States was ,, in November , [5] almost ten times larger than Canada. For the to period Canada’s annual population growth rate was 1. Canada’s debt-to-GDP ratio was During the course of this administration, the economy is expected to enter the longest expansion in recorded U. The International Monetary Fund ‘s annual World Economic Outlook provides the main economic indicators in Canada in selected years between and This table show the same economic indicators in the United States in selected years between and According to a Global Affairs Canada report, Canada’s exports increased 5. In energy-related products represented the largest increase in both imports and exports in the US.
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Comparable items cost one dollar in Canada compared to 84 cents in the United States.
Here’s how much individuals pay
Even with all kinds of taxes considered, including income, local and sales taxes, among others — and contrary to what President Donald Trump has repeatedly said — Americans do not pay the highest taxes in the world. Not even close. Actually, the U. But what about Canada? Given all the social services that Canadian citizens enjoy relative to their neighbors to the south, including health care, many Americans assume that Canadians bear a significantly heavier tax burden. According to its data , in terms of total tax revenue as a percentage of GDP, in , the U. That total tax revenue figure includes not merely federal income taxes, but all taxes, including «taxes on income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes. OECD , Tax revenue indicator. At times, for example, in and again in , Canada and the U. The U.
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This question is part of an age-old debate between the two largest nations of North America. The societies of both Canada and the United States hold the view that their own country is the better place to live. Generally, neither country knows all the facts about what the other country has to offer. So, which is better: Canada or the United States? While the U. The U. Census Bureau reports the median income for U.
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Women still make up the majority of rural mail carriers—about 70 per cent—while men account for 70 per cent of workers in cities. They smile, wave and go about their business. Elon Musk: Robots will take your jobs, government will have to pay your wage. That total tax revenue figure includes not merely federal income taxes, but all taxes, including «taxes on income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes. To some extent, pay and working conditions have improved for Anderson and nearly 9, of her colleagues since rural and suburban mail carriers joined the union that represents city postal workers. Given all the social services that Canadian citizens enjoy relative to their neighbors to the south, including health care, many Americans assume that Canadians bear a significantly heavier tax burden. Trending Now.
Canadians pay more — sometimes
After years of union pressure, Canada Post agreed to undergo a pay equity evaluation, which began in January. The government previously said it would introduce legislation in spring It has the fourth highest infant mortality rate in the OECD, the sixth highest maternal mortality rate mors the ninth highest likelihood of dying at a younger age from a host of ailments, including cardiovascular disease and cancer,» reports Bloomberg. Terms of Service Contact. They also enjoy access to high-quality education for children across the income spectrum. Login Subscribe.
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Even with all kinds of taxes considered, including income, local and sales taxes, among others — and contrary to what President Donald Trump has repeatedly said — Americans do not pay the highest taxes in the world. Not even close.
Actually, the U. But what about Canada? Given all the social services that Canadian citizens enjoy relative to their neighbors to the south, including health care, many Americans assume that Canadians bear a significantly heavier tax burden. According to its datain terms of total tax revenue as a percentage of GDP, inthe U. That total tax revenue figure includes not merely federal income taxes, but all taxes, including «taxes on income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes.
OECDTax revenue indicator. At times, for example, in and again inCanada and the U. The U. For the most part, however, both countries hover around the OECD average. And both remain far lower than high-tax countries such as Luxembourg, Norway, Denmark Switzerland and Sweden.
Because Canada has a progressive tax system much like America’s, the amount any individual pays varies according to their circumstances. The typical Canadian family pays an effective total tax rate of 24 percent, according to Broadbent. The effective total tax rate for Americans varies, too: «The top 1 percent of American taxpayers still pay an effective tax rate of approximately Peterson Foundation.
They also must contend with higher sales taxes and a higher cost of goods, especially in the wealthier provinces, which affects buying power. But some rich Americans actually tend to pay a bit more than rich Canadians. The average top marginal tax rate on wage income in Canada is In America, it’s a bit higher: The rate is highest in California Canadians may not pay that much more than Americans — and, on occasion, as a nation, they have even paid less — but they do get a lot more from their government in terms of social services.
That’s part of what makes Canada one of the Top 10 happiest countries on earthranking seven spots higher than America. As Vice Money puts it, «American marginal tax brackets aren’t too different from Canadians’, yet [Canadians] get universal health care and [Americans] don’t. It has the fourth highest infant mortality rate in the OECD, the sixth highest maternal mortality rate and the ninth highest likelihood of dying at a younger age from a host of ailments, including cardiovascular disease and cancer,» reports Bloomberg.
Per capita health-care spending in the U. Yet life expectancy in Canada is Critics of Canada’s single-payer health-care system call it a » cautionary tale ,» one that’s «failing.
And the waits for procedures can be unnecessarily long: As Forbes points out, «Inthe average wait time for an MRI was over two months, while Canadians needing a CT scan waited for almost a month. Overall, though, Canadians enjoy the kind of perks Americans only get if they work for the most generous, prestigious corporations. Those include free health care without deductibles as well as up to 18 months of subsidized parental leave when they have children. They also enjoy access to high-quality education for children across the income spectrum.
Even top-notch colleges and universities are cheaper than comparable institutions in the U. In short, the study concludes, «the majority of Canadian households enjoy a higher quality of life because of the public services their taxes fund.
Americans enjoy a strong national defense. As of Aprilthe U. The military accounts for about half of all discretionary spending in America. Mandatory spending priorities include social security and Medicare, the Supplementary Nutritional Assistance Program and transportation.
Social Security alone comprises more than a third of mandatory spending and around 23 percent of the total federal budget. Medicare makes up an additional 23 percent of mandatory spending and 15 percent of the total federal budget,» reports the National Priorities Project. Education spending accounts for six percent of discretionary spending, and additional spending on Medicare and health accounts for another six percent. Most Americans aren’t covered through the government, though: They must pay for health insurance themselves or, if they obtain coverage through the Affordable Care Act exchanges and they qualify, with the help of subsidies.
Government involvement in paying for health insurance has been shown to both lower prices and help citizens live longer: «The 10 countries with the highest life expectancy depend on voluntary insurance for an average of less than six percent of their costs, and government spending for nearly half. Many of the other programs covered by discretionary spending also help vulnerable populations but not the country at large. Perhaps that’s why so many Americans, as well as the president, feel that Americans pay more than anyone else in taxes: Because while many U.
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The pay equity gap has been researched and debated for decades, with little real progress to show for it. But the reckoning may finally be here.
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World globe An icon of the world globe, indicating different international options. Angry Bear Blog. David Zetland passes along some income figures via Aguanomics re posted. Dan here Canadians make more money than Americans? This number, mind you, refers to total economic activity and cost of living, not income to individuals. These numbers are reconciled via inequality: Canada is more egalitarian similar to Spain and Italy than the US similar to Bulgaria and Irancirca I reckon that inequality has recently worsened in the US. So it seems that the income canadixns from economic activities in the US is skewed in distribution — with more going to rich people than the average person — compared to Canada. This harmony may be due to a fairer distribution of income, but it’s also accompanied by a higher average incomes. Right, Mitt? That dream is — relative to the past and relative to other countries — more dream than reality [pdf].
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