I can't handle Canada anymore

Having a serious case of needing to change things up. My wife and I are miserable in Canada, mostly a combination of the brutally cold weather and garbage tax system. We were thinking my company could over the long term transfer me to the USA, maybe somewhere warm like Florida. Am I crazy?

-current income tax rate: 54%
-current sales tax rate: 13%
-healthcare is crap, I can't find a family doctor and everything necessary (like dental) isn't covered by our socialist healthcare.

Comments (22)

2mo 
ibdropout, what's your opinion? Comment below:

Well no income tax at all in Florida or very minimal so great in that sense! Health insurance through jobs isn't crazily expensive esp if there's more than 1 person in the plan.

2mo 
kodi, what's your opinion? Comment below:

My gf and I left Canada for the reasons stated above, plus a massive rise in immigration to Canada. they are planning millions more going forward... I mean.. i get it.. they are building a country and it takes people to do this.

we are now in Europe and the US, roughly 50-50.

  • 3
  • 3
2mo 
kodi, what's your opinion? Comment below:

Sequoia

What's been the negative impacts of the uptick in immigration?

- Massive increase in housing costs, plus lack of housing (average home price or rent price is way higher than what normal jobs pay)
- While Canada imports more and more people, they don't create the number of jobs required. So many local and immigrant people remain underemployed or unemployed
- They do have pathways for PR in Canada for many immigrant classifications, but not always in the right locations (too many immigrants still focus on the bigger cities because their people are there, while the more rural provinces are still fairly empty because PNP isn't always effective)
- Severe strain on the Canadian health care system; they don't have enough doctors/nurses/GPs/more to care for everyone

Canada does have the space for a larger population and you can not build a country without immigrants - but in the meantime, what is everyone going to do until then?

  • 2
  • Intern in Consulting
2mo 

Echoing the other comment, the impact on housing prices has been insane, and it also serves as a tool to mitigate any potential pressures in the labor market, which for your average worker just results in lower wages.

Obviously things have changed a bit with interest rates coming up since this graph was created, but take a look to see how dire things have gotten with housing prices. Add in high taxes and crumbling healthcare, and it's just a place I'd want to stay long term.

ac_eco 🇺🇦 on Twitter: "This really is an insane chart comparing income to house price growth in the U.S vs Canada. https://t.co/Sf5uwEZLGg" / Twitter

  • Research Associate in AM - Equities
2mo 

This should no doubt be a screen to eliminate those applicants 

  • Associate 3 in CorpFin
2mo 

If your company is willing to transfer you via an L-1 Visa - I would definitely recommend doing it! I went down via a TN visa and have not looked back.

Beyond the horrific weather and taxation, almost all of my offers when I started recruiting down south paid 2x+ what I was earning in Canada. The additional pay in America made the move worth it even if the weather was the same (which it isn't). In addition, now that I've made the move, all the Canadian firms that were previously lowballing me have been reaching out offering to pay me materially more than they did when I worked up north before. 

  • Intern in IB - Cov
2mo 

Reading this makes me so glad I busted my ass off in high school and left Canada for NY for college and now working here making 5x - 10x more than my NPC high school classmates still stuck in Van. 

2mo 
PWM Hopeful, what's your opinion? Comment below:

Canadian that moved down to the US here.

You're not crazy at all. Do yourself a favour and talk with your company ASAP. It was the best career and life decision I've made by a large margin.

Feel free to shoot me a PM if you need a POV.

Just had my trade dispute rejected by Schwab for a loss of 35k. This single issue alone should be a gigantic red flag to anyone who trades on their platform.

If they have a system error, and you do not video record your trading (they actually said this), they will not honour their fuck up. Switching everything away from them. Fuck this company.

2mo 
_canadianpsycho, what's your opinion? Comment below:

Also jumping on the bandwagon that moving to the US has been the best thing I've done for my career. Much higher pay with virtually no ceiling (literally >2x for the same role), and also enjoy the fact that people are generally more forthright.

Only potential downside is that the path to Green Card is a long one that will require some patience and risk tolerance depending on your visa situation. Many people have done it and it is possible if this is your ultimate objective.

  • Associate 2 in PE - LBOs
2mo 

Shit I'm in the UK and feel exactly the same way. Cold weather, high taxes, low salaries, garbage currency, garbage public services. Problem is I also have friends and family here and not sure how comfortable I feel about pulling the plug on my life here to move overseas.

2mo 
kodi, what's your opinion? Comment below:

Shit I'm in the UK and feel exactly the same way. Cold weather, high taxes, low salaries, garbage currency, garbage public services. Problem is I also have friends and family here and not sure how comfortable I feel about pulling the plug on my life here to move overseas.

we left Canada and live part-time in the UK now, the other half in the US.
- taxes are lower for us in the UK
- if you truly believe that public services are bad in the UK, you would be shocked about Canada
- the weather in the UK is good compared to the permafrost and ice in Canada
- cost of utilities was higher for us compared to the UK
- our salaries were higher in the UK and US compared to Canada

  • Associate 2 in PE - LBOs
2mo 

Support that Canada has a garbo tax regime - I do wish I did my banking years in the US instead of Canada.

Fact is, if you're moderately wealthy / hard-working / smart and can be above middle-class, the US is just better. Canada benefits the middle-class and below. 

2mo 
kodi, what's your opinion? Comment below:

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2mo 
PrivateTechquity 🚀GME+BBBY🚀, what's your opinion? Comment below:

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