I was an executive at a SW firm in Toronto for almost 9 years (I'm originally from the US).

In order to hire relatively talented people, the salaries were (even in 2007) no where near what you are describing.

When I resigned in 2014 the lowest paid developer on a 30 person team might have been making around $80k. Typically salaries were between $88 and $110.

While there are a large number of Canadians that have gone to the US to work, I regularly encounter Americans in tech that have come here. Sure, it's anecdotal.

My taxes are only slightly more than I paid in Wisconsin, and likely on par with California. And for that I always have some level of basic healthcare, even if I lose my job. Plus, the government tries harder for its citizens here.