San Francisco tech salaries are not representative for the entire US tech industry. And on top of that, San Francisco salaries drive up housing prices, so i'm not sure if working in SF results in a higher discretionary income.
I just checked and in EU big cities like Munich, tech salaries are also around 1.0x-1.2x GPD per capita, making EU just as bad as Toronto. Man, the US is really in a league of its own for tech wages.
For comparison US GDP per capita is 71k usd and San Francisco salaries are 172k usd. That's a big difference.