Why the per captia income of usa and canada is high

See below

Explanation:

Canada’s fourth quarter 2018 gross domestic product (GDP) was reported at $2.2 trillion. In comparison, the United States reported a GDP of $20.87 trillion.

While the U.S. is a much larger super power in terms of GDP, the incomes of citizens is much more closely aligned. The U.S. Census Bureau reports the median income for U.S. families at $60,336. In Canada, the median income ranges from $45,220 to $89,610.

Taxes can also be a key differentiation for the two countries. Canada has a higher average practical tax rate than the United States at 28%. Business Insider reports that after taxes Canadians bring home $35,299 annually on average. In the United States the practical tax rate is lower at 18%. As such the average post tax annual salary in the U.S. is $52,344.

According to the website numbeo.com, the cost of living is higher for Americans than Canadians. The Numbeo Cost of Living Index for the U.S. is 69.91 compared to 65.01 for Canada. This Index looks at rent, groceries, restaurant prices, and local purchasing which are all higher collectively in the United States.

($ in USD)

Rent for a one-bedroom apartment: $1,536.22 in Toronto, Canada vs. $3,116.43 in New York City, United States

Food: loaf of bread 95 cents in NYC vs. 59 cents in Toronto; 0.15 kilogram of chicken breast $1.96 in NYC vs. $1.88 in Toronto; meal at an inexpensive restaurant $14.90 in Toronto vs. $20 in NYC; cappuccino $3.15 in Toronto vs. $4.47 in NYC

Transportation: one-way local transport ticket $2.42 in Toronto vs. $2.75 in NYC; taxi one mile $2.16 in Toronto vs. $2.70 in NYC

Clothing: one pair of Levi’s jeans $52.59 in Toronto vs. $53.74 NYC; one pair of Nike running shoes $79.64 in Toronto vs. $86.69 in NYC

50% because no one is smart enough to relize that money makes the world go round and 99% of the earth hates donald trump the other 1% is the republicans go figure right

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