Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Since the Yankee buck is only worth 96 cents Canadian ..It throws the whole list out of whack. I suspect there are a lot fewer millionaires in the US then they claim to be.
Never fear, those 4 cents have been accounted for.
I'm pretty sure that all the world's currencies have been adjusted for the sake of the list to compare them on a level playing field. They would have to be. Otherwise countries like Hong Kong would be incredibly distorted (a million Hong Kong dollars is only a little over $100,000 USD...a figure like that would have to be adjusted).
It's a bit of an odd list, in that it excludes people who own their own businesses (or more exactly, excludes wealth attributed to that business)
If I understand this correctly, the cash that owner earns from his business and puts into his own personal banking account is counted (as all cash deposits count). It's just the business assets that don't count (such as the land and capital owned, and the cash that's in the business account).
If I understand this correctly, the cash that owner earns from his business and puts into his own personal banking account is counted (as all cash deposits count). It's just the business assets that don't count (such as the land and capital owned, and the cash that's in the business account).
That's certainly possible, though if that's the case, it seems odd to count listed securities, but not cash assets of your own company.
--------------------------------
After a little more thought on the subject, I'm a little bit confused as to this whole topic in general. The question "why doesn't Canada have many millionaires" seems rather strange, given that we're ranked 20th in the world in regards to millionaires. There are quite a few developed, wealthy countries that didn't make the list and here we are wringing our hands and thinking up excuses as to why we're not higher up.
I was looking at this list (Top 20 Countries With Highest Proportion of Millionaires (http://communityad.blogspot.com/2011/06/top-20-countries-with-highest.html - broken link)) and I found it a bit perplexing. Why would Canada be at the bottom of the list? I was truly shocked by some of the countries that managed to come out ahead of Canada (Ireland, for example). And the US, perhaps the one country most similar to Canada, has three times as many millionaires (per capita). What a striking difference!
Does anyone have any insight as to why Canada doesn't seem to be turning out as many millionaires as other developed nations? Just curious. It seems a bit odd.
(I certainly don't mean this to be offensive, by the way. I'm just wondering what Canadian residents think.)
Cananda is not a tax haven, a tiny oil state, a major political centre, or a small country that gets almost all its money as a financial brokering or banking house.
From my quick review, about 3 quarters of the countries on that list fit one of the above descriptions.
Where's Germany, France, Spain, Norway and Sweeden?
20th is pretty good when you look at it.
Last edited by danielsa1775; 07-03-2011 at 10:00 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
