> Canada has THIRTY PERCENT higher median wealth than America. That's the sum of savings, despite lower income,
Interesting. Perhaps that extra “THIRTY PERCENT” accumulation of wealth is necessary as a cushion against the lower median salaries? To cushion against Canada’s lower social security payments in retirement? Or to counter a higher capital gains rate? Or to save up for higher cost real estate purchases? And does that “wealth” include real estate? I’ve heard Canada’s real estate has become significantly “overpriced” in comparison to the U.S.
(Of course this is way off the original topic - I show median teacher salaries are higher median overall salaries using specific census and BLS data elsewhere.)
> because we have far lower medical insurance costs and precarity.
Seems unlikely to be the main reason. First and second quintile U.S. households are almost 100% covered for medical costs - either by private or public plans. The middle quintile, is perhaps 75% covered - e.g. they’re assumed to be able to afford to make up the difference. The 10% of these folks who choose to forgo insurance, don’t bother to sign up for public, or are illegal immigrants, are, by law, still required to be treated at hospitals if they show up there - the government pays the hospitals back via the EMTALA system.