Thursday, March 11, 2010

A tale of two neighboring countries

My friend lived in Canada and the United States. Although these two countries are similar in many aspects, they are quite different in their economic philosophy.

The Canadians pay higher taxes but are able to enjoy many social services provided free or highly subsidized by the state, such as health care, education and security. The Americans pay lower taxes but have to pay more for their private health care and also to take care of their security.

Although America claims to have lower taxes, they are not collecting sufficient tax to pay for their medicare, social security and unemployment benefits. This has resulted in their large budget. deficit.

Americans dislike the word "socialist". In Canada, socialism is considered to be desirable. He finds the Canadian system to be better for the people.

Tan Kin Lian