Financial Literacy

A Dozen Good Reasons to Move to Canada

Happy Canada Day! In honour of the occasion, I thought I might go over some of the economic reasons we love living here, and why you might want to move here if you don’t already. These aren’t my ideas, by the way. I found them in an amusing post over at The Daily Reckoning that cautioned as follows: Don’t Underestimate Canadian Economic Growth.

I’ve acknowledged the waves of applause our home and native land has received over the past few years for our stronger financial regulations and sound(er) fiscal policies. I’ve also raised a couple of concerns over our housing market (CMHC: Fannie Mae Canadian Style?) and the growing levels of household debt many of us are servicing (Canada: Golden Child or Tag Along Sibling?). Although these concerns are valid, there’s no other country in the world I’d rather call home, so today is all about accentuating the positive! 🙂

12 Reasons to Move to Canada

  1. Top personal tax bracket is 46% (combined federal and provincial). For that we get free schools, free healthcare and a social safety net that works.
  2. Top corporate tax rate of 38% and a small business tax rate of 16.5%. The top corporate rate is scheduled to drop to 26% in five years.
  3. Love in one of the safest places on earth. The crime rate is very low.
  4. Freedom to travel abroad where all countries welcome you and like you.
  5. A banking system that works. Sorry, no easy way to buy a home without 10% down at least.
  6. Most populated cities do not have the risk of forest fires, floods, tornadoes, hurricanes, mudslides or earthquakes.
  7. A rich resource base in oil, gas, gold, copper, iron ore, lumber, potash, wheat and uranium.
  8. A small population of 35 million. (Note from 2 Cents: I always say that Canada is a great place to live for introverts! ;))
  9. Real estate prices are very affordable.
  10. A government system that works (most of the time). We are the Saudi Arabia of water resources.
  11. We produce the best comedians in Hollywood, (Jim Carey, Mike Myers, Martin Short, Howie Mandel, Dan Aykroyd), some great actors (Michael J. Fox, William Shatner, Pamela Anderson, Donald and Kiefer Sutherland, Keanu Reeves, Matthew Perry), some great musicians (Celine Dion, Bryan Adams, Bare Naked Ladies, Neil Young, Alanis Morissette, Gordon Lightfoot, Paul Anka, Rush).
  12. If you believe global warming is coming, then Canada will have the best climate over the next 100 years!!

Again, I take no credit for this list, but I thank the editors of The Daily Reckoning for printing these comments from a Canadian reader. With regard to the global warming commentary, I would just like to state for the record that most of the Canadian population lives in a fraction of the country’s geography which is definitively not Arctic. In fact, I live in a Canadian city that is actually south of our nearest big U.S. city!

What are some of the things you love about Canada?

Comments

  1. 2 Cents

    Good point. I’m sure there are many more great Canadian musicians and actors that aren’t on this list. It’s pretty amazing that this Canadian commenter could come up with this many of the cuff. Thanks for adding these successful Canadian exports! 🙂

    Can anyone think of others that should have made the list?

  2. JFR

    #11: What about Shania Twain, Avril Lavigne and Billy Talent?

  3. I quite like Canada, myself, and I like points #3, #4, #6, #7, and #8! You didn’t mention the open air, free space, and clean environment available a short distance away from most cities, so I’d add that, too!

    I have to contest with points #1 and #9. “Free” is not really free, as there is a cost to be paid in terms of real resources, and someone has to pay it. Just because you pay the bill via taxes and you pay in proportion to your income, not your use, that does not make it free at all.

    This disconnect between where the money comes from and where it goes creates disincentives when it comes to providing quality service. With public education as an example, a public school where the teachers don’t give a rats ass fails vs. a private school where they give a lot more individual attention to students. It’s not black & white, and there are other issues to think of here such as equitable access and the like that come down to political questions, but given the choice, private generally trumps public.

    As for #9, if only it were true! Where are you thinking about, exactly? I find that the prices are currently rather quite high in comparison to median income levels.

    In any case, happy Canada Day, enjoy it, and I certainly don’t mind it here at all, overall. I have foreign friends here that are not at all eager to go back to their home countries!

    • 2 Cents

      I have to agree with you on #1 and #9. Although health care and education are not free, I’m glad that I don’t have to worry about what kind of health insurance we need for basics like visits to the doctor.

      I’m not sure what area the person who composed this list was thinking about in terms of cheap real estate.

      Thanks for your comments!

  4. youngandthrifty

    This is an awesome list!! I’m a huge proponent of our free health care included with our tax dollars. Truly believe that access to health care is a basic human right, and am glad Canada sees so too =)

    I think we just celebrated our recent increase in population, right? (Didn’t we recently top 35 mill a few weeks/ days ago?)

    I also love our patriotism. No where else do you see Canadians plaster the Canadian flag on their backpacks when they travel!

    Oh, and you forgot one more: HOCKEY!! =) (I’m not a huge fan myself, but love to see everyone get all riled up during the playoffs)

    and ONE more is the people! (except for those Canadians featured on the Bachelorette, I think we’re a fine bunch)

  5. Sustainable PF

    A few more reasons …

    Beer! No watered down tasteless stuff here. Well some, but some awesome beer too.
    Canadian Rye Whiskey. A glorious product.
    Some great blogs: Money Smarts, Million Dollar Journey, Canadian Capitalist, Money Sense, Canadian Couch Potato, The Canadian Personal Finance Blog, Boomer and Echo, Y&7T (commented here),Prairie Eco Thrifter, the TFB/Dividend Guy empire and many more!
    Canoes. Great way to travel.

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