In a scenario where more YC companies set up shop in Vancouver, and US investors follow to bet on the next Slack up here, then this will naturally change as a function of supply/demand.
Yes, but you get healthcare and being non-white isn't illegal, so that helps.
Also - not really? The highest federal tax bracket in Canada is 33%. The highest in the states is 39%. The highest provincial rate in BC is 12% and that's about the same as California. I'm sure there's a lot of variation depending on an individual's situation, but you're really deluding yourself if you think American taxes are low, for the shit deal you guys get.
Yes, but you get healthcare and being non-white isn't illegal, so that helps.
That made me chuckle. You think Canada doesn't have racists? Good lord.
And sure, if you just look at the income tax rates BC looks reasonable. Of course, if you look closer at the actual income brackets for each rate, it looks very different. That doesn't even include the sales tax (up to 15% in some provinces), taxes on alcohol, gas, etc.
I was being facetious, and yes, we do absolutely have racists, and yes, most of the people in our prisons are not white (they're First Nations, in our case).
Even so, we don't quite have the same legal system that seems to systematically lock up non-white people in bulk. A lower percentage of our population is in jail, they stay in for less time, and we have less violent crime overall. If you aren't white, I feel confident in saying you'll feel welcome here and won't get arrested for walking down the wrong street along at night.
You sure about that? Canada is, 78% white, 92% white + asian, only 1.2% hispanic and only 2.9% black. 700 million hispanics in the Americas, and Canada somehow only has ~300,000. The US is around 15%-16% black by comparison, and 20% or more hispanic. Sure sounds like it may be illegal to be non-white in Canada, how else to explain the lack of diversity?
$100,000 USD, $200,000 USD, and $400,000 USD, you will pay:
$32,000, $69,000, and $159,000 in taxes in California.
$28,000, $73,500, $169,000 in taxes in BC.
But that's just income tax. There's also Social Security/Unemployment Insurance contributions. In the US, 13%[1] of your salary up to $130,000 will go to social security contributions. In Canada, 10% of your salary, up to $40,000 USD will go towards the CPP and Unemployment Insurance.
So, at the $100,000 USD salary, you will pay $45,000 in taxes in California. In BC, you will pay $32,000 in taxes.
At $200,000 USD, you will pay $86,000 in taxes in California. In BC, you will pay... $77,500.
At pretty much every tax bracket, you will pay more taxes in California, and get less for them, then you would in BC. As it turns out, maintaining twelve super-aircraft carrier groups is expensive.
Mind you, BC is not all flowers and roses. The provincial government runs the place with all the integrity and forward-thinking of a banana republic.
[1] Yes, your employer pays half of it. That money would have otherwise gone towards your salary.
That's a common misconception. I paid more in US + California taxes than Canada + Ontario taxes at the same company, same salary, when I moved location.
I'm skeptical, because both Ontario and the feds have raised the higher tax brackets in the last few years, plus the dollar is around 74 cents to the US dollar now.