Justin Fox, Bloomberg: Most Canadians Are Now Better Off Than Most Americans
(Bloomberg Opinion) -- Everybody knows that the U.S. version of capitalism is rougher and tougher than is the norm in other affluent countries. The rich are richer here, the poor poorer and the welfare state less exhaustive. Not surprisingly, the U.S. scores poorly versus other rich nations in terms of health outcomes, education levels and other such metrics.
Defenders of the U.S. approach can point, though, to the fact that per-capita gross domestic product has remained higher in the U.S. than in all but a few small nations with unique characteristics (Qatar, Luxembourg, Singapore, Switzerland, Norway, etc.) — so much higher that even with the less-equal income distribution here, most Americans continue to have higher incomes than their peers in other large, affluent countries.
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WNU editor: I live in Canada and I travel to the U.S. a lot. My brother lives in the Bay area, and I also get a lot of feedback from him. I would say that Canada's middle class is better off than the American middle class, but the trend has changed in the past 2 or 3 years, and not for the best. Open borders and massive immigration have put strains on the middle class .... from now having people who are willing to work for less, to housing now becoming incredibly expensive (there are only so many homes and immigrants have to live somewhere). It is also incredibly difficult now for Canadians who are in the middle to become more affluent. High taxes and onerous regulations on small businesses make that impossible, and I do not see that changing any time soon (even if the Liberals under Prime Minister Trudeau lose the Federal election this October).
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