Forbes: No Coincidence Canada's Middle Class Surpassing US

Wednesday, 23 Apr 2014 11:31 AM

By Wanda Carruthers

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
It's no coincidence that the middle class in Canada is surpassing the United States as the world's most affluent, said Steve Forbes, chairman of Forbes Media.

A report in The New York Times on Tuesday showed Canada's middle class after-tax income grew to surpass all other nations since 2000. Forbes told Fox News' "America's Newsroom" that he attributes the difference to Canada's government, which "got its finances in order."

"I don't think it's a coincidence," the Forbes magazine editor and former presidential candidate said Wednesday. "Canada's been cutting taxes ... They didn't go for boosting artificially the housing market, so they had no bust."

By contrast, Forbes pointed to U.S. policies that hindered the economy, affecting the middle class in the process. He said the middle class has stayed "stuck on stuck because of a rotten economic environment."

"Look what we've done. We've trashed the dollar. We've been increasing taxes. We've been putting massive regulations, especially on smaller businesses, which is where the new jobs are created. And, so, you do that, and you pay a price for it," he said.

Federal spending during the last 12 years in the United States had been "gobbling up more resources," Forbes said, adding that Americans in the past did well when the government "liberated the people in this country to move ahead."

Related Stories:

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

US Army War College to Launch Plagiarism Probe on Senator's Thesis

Thursday, 24 Jul 2014 21:36 PM

The political hole deepens for beleaguered U.S. Sen. John Walsh of Montana, a Democrat who is running for re-election a . . .

Honduran President: US Policy Partly to Blame for Border Crisis

Thursday, 24 Jul 2014 21:10 PM

The president of Honduras lays part of the blame for the border crisis on an unclear immigration policy of the United St . . .

German Report: NSA Tracks Users Researching Privacy Software Online

Thursday, 24 Jul 2014 20:12 PM

A warning to those who might do a little online research about Internet privacy software: The NSA is tracking you, a rep . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved