Julius_Seizeher said:
I give tons of credit to Canada's mining industry.
If you can brave the wilderness, there are fortunes to be made mining gold in the Yukon. In Saskatchewan you've got potash, uranium, oil sands, logging, there is just so much mining & resource activity in Canada. The Abitibi Greenstone belt is a prolific mineral resource.
I think it is the massive volume of resource activity that allows the Canadian government to run a socialized healthcare system with such a low national tax rate.
The TSX (Canadian stock exchange) is loaded with junior mining companies where you can make ALOT of money if you buy the right ones.
Low national tax? Perhaps for corporations and those who run their own business. I paid $2000 in taxes my last 2 week pay period...and I've been to the doctor 2x in the last 6 years, one for a compulsory physical, and one for a minor eye issue. I think if you're young and healthy and making a reasonable income, the US is a better place as far as taxes and disposable income go. Taxes are nasty up here once you're making over 100k, and keep in mind I live the most right wing and prosperous part of Canada.
Canada has a shiitload of energy resources as well... Second largest oil reserves next to Saudi, and something like 95% of it is in my province. Its not light sweet crude like the Saudis have, but its still easy enough to extract so that companies make a profit and pump tens of billions of dollars into infrastructure. There's a lot of money in my province, to give you an idea, my neighbor has a bright orange lamborghini galardo and I don't even live in a super posh part of town! I don't get why making 100K is such a big deal in the US. I've always made around that since I've been out of school... it seems like everyone makes at least that up here.
The real estate market up here, in my neck of the woods anyways, is very safe, albeit capital intensive: Investment residential properties require 20% down. We have much tighter laws on leveraging w/ mortgages, and this is a big reason why Canada weathered the storm of the 2008 financial meltdown relatively well. Truth be told, we didn't really feel anything here in north/central Alberta. I mean I heard some people had their overtime reduced, but the economic impact as far job loss, etc was minimal.
I was seriously considering moving to the US in the next few years to further my education, but its really not worth it from a strictly business/financial perspective given how propserous Alberta has been over the last decade.
Based on my limited travels I also think that Canada has more attractive people per capita than the US... This is likely because I've never been to a club or gym in the US, whereas I've been to hundreds up here. There's so many obese people in the US its absolutely crazy...