Canada’s Middle Class are financially stable than American counterparts – says Report

While Canada Immigration is booming providing equal opportunities for residents in Canada, whereas US is struggling in terms of health outcomes, education levels and other factors. The world is already aware of the capitalism in U.S. that is more incoherent and tougher than the other developed countries. There is a huge demarcation between the rich and poor wherein rich are getting richer and poor are becoming poorer.

According to the report by The Centre for the Study of Living Standards, Canada is ahead of the U.S. in terms of median household income with a USD 59,438 to USD 58,849 advantage. The study also suggests that the bottom 56% of Canadian household incomes are greater than the bottom 56 % of U.S. households. And, this report evidently disapproves of the prolonged belief that Americans earn more than Canadians.

“This result illustrates how the usual comparison of incomes between Canada and the United States using GDP per capita or average household income hides a critical part of the story,” the report reads. “Indeed, American society has greater income inequality, such that the higher average is driven by incomes at the top of the distribution. “For poorer or middle-class Canadians, their incomes actually compare favorably to those of their American counterparts.”

The report also highlights its own confines which includes the analysis of income before tax. However, the income tax is higher in Canada as compared to US, but Canada provides more access to public services such as subsidized healthcare policies and free education.

All these findings and factors of the gap would be even greater in favor of Canada. Perhaps, the most significant finding of the report is the low-income households in Canada are faring better than the low-income households in US. This shows the stagnant income inequality in the U.S. that is enormous upon comparing with Canada.

Free Profile Assessment and Visa Guidance

Americans Wants to settle in Canada

Meanwhile, there was an interesting poll released in January 2019, which disclosed that more than a quarter of American Residents are looking to leave U.S. and move to Canada. To be precise, the Gallup Survey says – Americans who wishes to settle in Canada has increased from 12 % in 2016 to 26 % in 2019.

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments or questions are welcome.

* indicates required field