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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (12302)	10/27/2021 10:36:08 AM
From: Sun Tzu	Respond to of 26766

In the US states compete with each other based taxes. As a result there are huge variations. Some states do not have income tax but instead have big property taxes. Some states make themselves into tax/property shelters. In Canada provinces are more aligned with regards to taxation. They compete based on development and opportunities rather than capital incentives. As a good general rule, almost everyone has a better quality of life in Canada. But if you are in the top 10%, you will make (and save) more money in the US. That extra money does not necessarily translate into better standard of living, unless you are in the top 3%. For example, a friend of mine was promoted to Sr VP and was asked to move to CA from Toronto. The pay hike was very big, so he accepted it. Once he got there, he realized that to send his kids to the same kind of school and live in the same type of neighbourhood he has to pay so much more that it's not worth it. He turned the promotion down. The company wanted him enough to actually reorganize so they can give him a better pay. So he stayed. But to this day his wife considers the move to the US as their biggest mistake. The extra money, in her opinion, did make for the change in the quality of life. We had a similar experience. Coming from NYC, both my wife and I earn substantially less money than we did. But our quality of life is much better here. So I would say that if you have a university degree and are in upper middle class, then live in the US when you are single and when you retire, but live in Canada while raising a family. If you are in the top 3%, then likely the US is better for you. Everyone else is just better off in Canada.