American expat in Canada here. Agreed that the compensation is not as competitive as in the US, and the prospect of living in bustling NY or sunny Cali is probably quite alluring for Canadian programmers to boot. (Having moved from Texas, I'm not sure I could thrive in Toronto and am quite relieved that Victoria has lovely weather.)

That said, the Canadian system seems to be far less dysfunctional than its American counterpart. Perhaps the brain drain will diminish if political or economic turmoil continues to make the US less appealing for the liberal crowd?