So yeah, a lower dollar is somewhat bad for employees who see some of their costs go up (in CAD) due to the exchange rate, as well as those who are planning to spend their earnings in other countries. It's also bad for companies that need to import goods. Of course it's good for companies that export goods, especially those with costs (like employee salaries!) paid in CAD. If the dollar stays low (in a relative sense) for long enough, these things tend to be pulled back into equilibrium, but they never move as fast as currencies can fluctuate.

I haven't researched the historical averages and correlated them with exchange rates, but I have been employing software developers in Canada for around 8 years now and so have kept current on market rates. In my experience, currency fluctuations, even on the order of 25-30%, have very little impact on market salaries.

Healthcare, stability and democracy (sans land/house prices) make up a lot for this.

Healthcare: We're talking about tech jobs. The healthcare coverage you will get from any tech company paying 6 figures is going to be essentially zero cost full coverage.

Stability: I have no idea what you are even talking about here, but it would be pretty hard to refer to the US as unstable from the perspective of someone working in a tech job. I suspect you pay too much attention to click-bait news and not enough talking to people that live here?

Democracy: again, what is this even referring to? The fact that the US is a republic? That's a pretty weak argument when comparing to a monarchy.

This is not always the case, especially for small startups. I know engineers who make 6 figures in small startups and pay $1K a month for Health insurance for family of 2 young people.

>> Stability.

I think what OP refers to is stability of financial markets. Canada does not have major financial crisis every decade or so, that wipes out half of your 401K and real estate value.

>> Democracy: again, what is this even referring to? The fact that the US is a republic? That's a pretty weak argument when comparing to a monarchy.

Canada is not monarchy, it is "Federal parliamentary representative democracy under a constitutional monarchy", so essentially Canada has parliamentary form of government. Also per my understanding they do not have electoral college. US has wired and extremely complex election system. In last elections Democratic candidate received 3M more votes, yet she lost election and Republicans control both House and Senate. Similarly Al Gore lost elections to Bush.

That's not been my experience. Microsoft used to offer a 100% plan, but that was unusual, and they dropped it a few years back. (Don't remember exactly when; I'd already left.) Google did not have a 100% plan, and no startup I've worked for has done better - in fact the startup I'm working for right now has no health plan at all.

All in all I don't really think it's a useful point of comparison when considering compensation between the two countries.

US politics are pretty terrible.

If any relevant number of people left you would know someone anecdotally at a minimum or be impacted in your tech company.

So, point is, you might not see a sudden movement but it might still be there.