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Old 07-02-2008, 02:02 PM
 
77,690 posts, read 59,823,491 times
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Quote:
Originally Posted by crikey View Post
Special Canada Day Report: How Canada stole the American Dream

The reports states that The numbers are in. Compared to the U.S., we work less, live longer, enjoy better health and have more sex. And get this: now we're wealthier too.
I'm not so certain about the wealthier part, but at the end of the report, it states that the average Joe in Canada is having a way better time.
A one-sided article but it makes excellent points of the US debt load. I am very frugal and share the authors observances of people that live to the edge of their means and beyond.

I would note that when he talks of income levels he talks about GROSS income and not NET income. The taxation loads would bear mentioning.
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Old 07-02-2008, 08:35 PM
 
Location: Calgary, AB
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I also found the article one-sided but it had some great points. I've noticed that it seems like Canadians carry less debt, live in smaller houses, and drive less expensive cars. Americans, in my perception, seems to be more ambitious but also lack patience (contributes to debt load).

I'm not sure about Canadians being more wealthy than Americans. In my observations, Americans tend to have more disposable income. Perhaps it's the debt load that masks that perception.

Of course, any good researcher can drive the conclusion they seek.

Aaron Levenstein once observed, "Statistics are like bikinis. What they reveal is suggestive, but what they conceal is vital."
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Old 07-02-2008, 10:25 PM
 
4,281 posts, read 15,706,541 times
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Quote:
Originally Posted by ZX14TJ View Post
In the US, capital gains (up to $250K individual/$500K couple) on owner occupied residences are tax free after only 2 years.
Just to clarify, the occupation period for a home to qualify for tax-free capital gains is 1 year in Canada.
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Old 07-03-2008, 07:24 AM
 
Location: Calgary, AB
315 posts, read 1,621,577 times
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Quote:
Originally Posted by Cornerguy1 View Post
Just to clarify, the occupation period for a home to qualify for tax-free capital gains is 1 year in Canada.
Got it. Niether situation is really an advantage to owning a home. Tax free capital gains, in either country, is an advantage in investing in real estate. Sure the tax free part is nice, but it doesn't help the average homeowner while they are making a mortgage payment each month.
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