Cost of housing in Canada

[Halifax Tar]

I wasn't sure where to put this...

Millennials pay higher taxes for boomers’ retirement - and the burden is only going to increase

Canada’s plans for population aging run afoul of the ‘intergenerational golden rule’ and needs to be remedied

www.theglobeandmail.com

 

[IKnowNothing]

I wasn't sure where to put this...

Millennials pay higher taxes for boomers’ retirement - and the burden is only going to increase

Canada’s plans for population aging run afoul of the ‘intergenerational golden rule’ and needs to be remedied

www.theglobeandmail.com

Start writing your CPC MP / candidate.

A CPC majority will have the power to reform the OAS/GIS system early in their mandate- but they have to know that working Canadians are demanding it, otherwise it will be too easy to kowtow to the retirees that ARE writing, that ARE donating, that ARE voting party members.

 

[Remius]

Start writing your CPC MP / candidate.

A CPC majority will have the power to reform the OAS/GIS system early in their mandate- but they have to know that working Canadians are demanding it, otherwise it will be too easy to kowtow to the retirees that ARE writing, that ARE donating, that ARE voting party members.

And still a significant voting block until 2027 when millennials will be the largest voting block.

After that date I suspect boomers will be in for some rougher waters policy wise.

 

[IKnowNothing]

And still a significant voting block until 2027 when millennials will be the largest voting block.

After that date I suspect boomers will be in for some rougher waters policy wise.

Seniors are a big voting block-but properly targetting OAS to trim the fat doesn't effect "seniors" writ large- it effects the ~20% that stand to lose: those in the 90-97th income percentile for 65+ that were in the clawback range, and those in the ~75-90th that would be captured by a lower one.
Income Data - in 2020 OAS Clawback range was 79k to 128k

 

[Remius]

Seniors are a big voting block-but properly targetting OAS to trim the fat doesn't effect "seniors" writ large- it effects the ~20% that stand to lose: those in the 90-97th income percentile for 65+ that were in the clawback range, and those in the ~75-90th that would be captured by a lower one.
Income Data - in 2020 OAS Clawback range was 79k to 128k

I meant government policy writ large.

 

[Eaglelord17]

It is BS I am providing welfare (as OAS IS welfare) to people making substantially more than me. If you failed to plan for retirement with a 100k+ salary/pension that isn’t my problem.

 

[Halifax Tar]

It is BS I am providing welfare (as OAS IS welfare) to people making substantially more than me. If you failed to plan for retirement with a 100k+ salary/pension that isn’t my problem.

 

[MilEME09]

It is BS I am providing welfare (as OAS IS welfare) to people making substantially more than me. If you failed to plan for retirement with a 100k+ salary/pension that isn’t my problem.

Agreed, OAS needs significant reforms to help those who need it, there's a big difference between the well off corporate manager retiring after making 150k a year, and say my mother for example who at 57 can't retire because of financial problems caused by my abusive, alcoholic father.

 

[Bruce Monkhouse]

I've had a lot of not-so-nice comments made towards me when I answer those ridiculous "Seniors shouldn't have to pay taxes as we've paid our share" memes.
When I mention we should pay more, as to make up for the debt we left the next generation, well lets just say I'm not a big hit at a party.

 

[AbdullahD]

You know what's funny, I generally agree with you guys.. if you have been lazy in you're planning and are hit hard by it.. why should I pay.. but recently I have had a family member get Dementia and lose his wealth and is living off the government now. So I see both sides.

Then again I am pretty sure with our existing framework, he is covered anyways.. so maybe I should just jump on the bandwagon lol.. our taxes are wasted far to much irregardless and the fat does need trimming.

Abdullah

slips back into the shadow

 

[Eaglelord17]

You know what's funny, I generally agree with you guys.. if you have been lazy in you're planning and are hit hard by it.. why should I pay.. but recently I have had a family member get Dementia and lose his wealth and is living off the government now. So I see both sides.

Then again I am pretty sure with our existing framework, he is covered anyways.. so maybe I should just jump on the bandwagon lol.. our taxes are wasted far to much irregardless and the fat does need trimming.

Abdullah

slips back into the shadow

Is he making 100k a year and still receiving welfare?

I am not opposed to OAS in general, but the income cap needs to be lowered substantially.

 

[Halifax Tar]

You know what's funny, I generally agree with you guys.. if you have been lazy in you're planning and are hit hard by it.. why should I pay.. but recently I have had a family member get Dementia and lose his wealth and is living off the government now. So I see both sides.

Then again I am pretty sure with our existing framework, he is covered anyways.. so maybe I should just jump on the bandwagon lol.. our taxes are wasted far to much irregardless and the fat does need trimming.

Abdullah

slips back into the shadow

My question is why is this a government, taxpayer, problem ?

Why should this not fall on the family and charity ?

Not aimed at you @AbdullahD just in general.

 

[YZT580]

My question is why is this a government, taxpayer, problem ?

Why should this not fall on the family and charity ?

Not aimed at you @AbdullahD just in general.

Why? Because some politician at some point in time decided it would buy a bunch of votes from the seniors' group. As has been said many times there is only one wallet to pay for all the government assistance and that is yours./mine. The last 3 years have been classic: we are now subsidizing massive numbers of daycare spaces, drugs and dental. None of which were in the budget 5 years ago. Whereas all of these items may be nice to have, every one of them contributes to inflation and in the end, the cost of your housing.

 

[MilEME09]

My question is why is this a government, taxpayer, problem ?

Why should this not fall on the family and charity ?

Not aimed at you @AbdullahD just in general.

Because the facilities to properly care for dementia patients aren't cheap, the one my grandmother is in sets the family back about 8k a month. Relying on charities and that isn't viable look what was discovered about care homes in Ontario during covid. The budget isn't there nor will it be.

 

[Halifax Tar]

Because the facilities to properly care for dementia patients aren't cheap, the one my grandmother is in sets the family back about 8k a month. Relying on charities and that isn't viable look what was discovered about care homes in Ontario during covid. The budget isn't there nor will it be.

When have we asked the taxpayer enough ?

 

[suffolkowner]

Who are all these boomers that made 100,000 a year plus pensions? I doubt the vast amount of people qualify for that category

 

[Halifax Tar]

Who are all these boomers that made 100,000 a year plus pensions? I doubt the vast amount of people qualify for that category

I did the google search for you

 

[suffolkowner]

I did the google search for you

wealth or income?
my house is worth more, I paid less for it. I need to sell my house to realise that wealth but then I need to still find another place to live
In 2011 how many boomers were making 100,000 a yr

 

[Halifax Tar]

wealth or income?
my house is worth more, I paid less for it. I need to sell my house to realise that wealth but then I need to still find another place to live
In 2011 how many boomers were making 100,000 a yr

No idea. Try Google.

 

[suffolkowner]

No idea. Try Google.

Millennials are the highest paid generation in American history - Kevin Drum

I happened to click today on a post about the (still) massive power of the Baby Boomer generation, something about which I'm fairly agnostic. However, before I even got to the main argument I ran across this throwaway line: The American Dream is no longer true in the way it was for more than a...

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