Can Canada Improve It's Standard Of Living?
October 16, 2024•210 words
September 20th, 2007, was the last time the Canadian dollar hit parity with the USA dollar.
Average household income before taxes in USA is close to $74,500 with approximately 12% poverty rate.
Average household income before taxes in Canada is slightly above $106,300 with approximately 7.5% poverty rate.
Just by looking at three basic simplified ways we Canadians can improve our standard of living...
Expand housing affordability in urban areas.
Affordable housing will help more people gain stability, reduce homelessness and housing insecurity.
Rent subsidies and rent control measures would help prevent low-income families from falling into poverty due to rising living costs.
Increase the minimum wage to reflect the actual cost of living to help ensure that full-time workers are not living in poverty.
Ensure provincial and territory job regulations are in place for fair wages, benefits, and job security, especially for low-income earners.
Access to affordable government taxation subsidies of childcare similar to K to 12 education funding model, could enable more parents to participate in the workforce.
Improving access to income support for those living in poverty, could reduce homelessness and a Universal Basic Income (UBI) program, would provide every citizen with a basic income regardless of employment status, ensuring that everyone can meet their basic needs.