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+--- Thread: Kitchener, Waterloo, Cambridge and Brantford most vulnerable to tariffs (/showthread.php?tid=1928)
RE: Kitchener, Waterloo, Cambridge and Brantford most vulnerable to tariffs - Kodra24 - 04-15-2025
(04-13-2025, 07:06 AM)Momo26 Wrote: They say median is a better measure in many respects but I need to take a closer look at all the data.
I think when people talk and seemingly everyone around them says they are feeling the pinch at the grocery, with the mortgage, and not saving nearly a much (or zero), it tells people all they need to hear.
I know now beyond a doubt that the educated class has a much higher earning potential in the US vs Canada. I have come to conclude that Canadian companies and by extension canadians, have a smaller appetite for risk and thusly are less innovative and have less growth mindset as compared to US counterparts. Are we living a 'better, slower paced and less-ambitious' life as a result? That's subjective. But the once comfortable middle-class is becoming far less comfortable and cushy now
This! Canada is currently the land of mediocrity and high-taxes. My question is what happens when someone else's money runs out? As in, when corporations and wealthy individuals leave, who will foot the bill? The spending is out of control and our current tax system is out of touch and uncompetitive - we are a broke nation but no one wants to admit it, can't wait to see how this will evolve
Secretly hoping Carney wins as he will drive this country into despair - a wake-up call is needed every now and then, hopefully we get ours soon
RE: Kitchener, Waterloo, Cambridge and Brantford most vulnerable to tariffs - tomh009 - 04-15-2025
(04-15-2025, 02:14 PM)Kodra24 Wrote: The spending is out of control and our current tax system is out of touch and uncompetitive - we are a broke nation
So, you are conflating two different things here: the level of taxation, and the government's fiscal situation.
We do indeed pay more taxes than US residents (although we get healthcare and other benefits for that) but the difference is not that massive.
Canada: 34% total tax burden/GDP
USA: 27%
Spending out of control?
Canada: 2.3% government deficit/GDP
USA:6.2%
As for being broke:
Canada: 18% net government debt/GDP
USA: 123%
And, yes, it really is true ...
RE: Kitchener, Waterloo, Cambridge and Brantford most vulnerable to tariffs - bravado - 04-15-2025
(04-15-2025, 05:28 PM)tomh009 Wrote:(04-15-2025, 02:14 PM)Kodra24 Wrote: The spending is out of control and our current tax system is out of touch and uncompetitive - we are a broke nation
So, you are conflating two different things here: the level of taxation, and the government's fiscal situation.
We do indeed pay more taxes than US residents (although we get healthcare and other benefits for that) but the difference is not that massive.
Canada: 34% total tax burden/GDP
USA: 27%
Spending out of control?
Canada: 2.3% government deficit/GDP
USA:6.2%
As for being broke:
Canada: 18% net government debt/GDP
USA: 123%
And, yes, it really is true ...
Are you telling me that Canada has to live in financial reality and try to spend within its means, and the US as the global reserve currency can spend like crazy and keep printing money to keep the party going? Sounds like a pretty precarious situation to begin a global trade war with, tbh... It also sounds like not the sort of thing we should constantly compare ourselves to.
RE: Kitchener, Waterloo, Cambridge and Brantford most vulnerable to tariffs - Momo26 - 04-16-2025
(04-13-2025, 03:05 PM)tomh009 Wrote:(04-13-2025, 07:06 AM)Momo26 Wrote: I know now beyond a doubt that the educated class has a much higher earning potential in the US vs Canada.
Educated? 57% of Canadian adults have a post-secondary degree or college diploma (38% in the US) so this is a majority of Canadians.
However, the earning potential for the top earners is much higher.
In the US: median $67K, top 1% $819K
In Canada: median $84K, top 1% $322K
So, yes, if you are 1% you can earn much more in the US. But $322K is not a terrible income level, either, but I suppose it depends on how much money one needs ...
Those median figures, are they all of USA or just those with the post-secondary degree?
RE: Kitchener, Waterloo, Cambridge and Brantford most vulnerable to tariffs - tomh009 - 04-17-2025
National median numbers, same for Canada. Not any subset of the population.