I often come across people who constantly complain about how weak the economy of Canada is compared with the USA. They say “Americans enjoy a higher standard of living!!” My response is : which Americans? When it come to median after tax household income the best estimates have the two counties basically tied at around $74,000. in local currencies. For Canadians this includes free health care and in the US, even with company insurance, there are co-pays and exclusions that can add up.

When “average” income is examined the US looks far more affluent ($87.000 in Canada versus $105,000 in USA) but that’s because the super rich move the needle. Indeed, in America the top 10% of income earners are responsible for 50% of all consumption. Income inequality is much greater in the US than Canada. So if you’re drawing you citizenship at random the odds of a more comfortable life in America aren’t much better - and if you end up in America’s bottom 20% your life will be more miserable than in Canada.