7/16/2012

Average per person wealth in Canada exceeds that for Americans

Might people consider adopting Canada's economic policy of cutting marginal income tax rates and restraining government spending? Canada's marginal corporate income tax rate is about 15% below ours. That is a big difference if investors get to keep 15 cents more of every dollar that they make from Canadian investments. From Bloomberg:
On July 1, Canada Day, Canadians awoke to a startling, if pleasant, piece of news: For the first time in recent history, the average Canadian is richer than the average American.

According to data from Environics Analytics WealthScapes published in the Globe and Mail, the net worth of the average Canadian household in 2011 was $363,202, while the average American household’s net worth was $319,970.

A few days later, Canada and the U.S. both released the latest job figures. Canada’s unemployment rate fell, again, to 7.2 percent, and America’s was a stagnant 8.2 percent. Canada continues to thrive while the U.S. struggles to find its way out of an intractable economic crisis and a political sine curve of hope and despair. . . .

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