I fine with boosting OAS as long as it’s paid for by a wealth tax. Many olds are doing great but some are doing poorly. Also OAS plus CPP is way too low and not enough to live on.
flamboyantdebauchry on
1927 Â *Old Age Pensions Act*Â was enacted, permitting the federal government to give assistance to provinces that provided a pension to British subjects 70 and older.
If you work your whole life in Canada you should be taken care of at 65, the country can afford it.
kremaili on
OAS is pretty outrageous at this point. The amount of tax revenue it requires from the working population is staggering, all to top up the most well off generation in our country. As young workers are struggling and cannot afford property, retirees collecting an income of up to $150k still get OAS. I’m all for taking care of elderly people, but something’s gotta give. Increasing it a further ten percent seems like a slap in the face to the young Canadians starting their careers.
1950truck on
I would sooner a reduction of income tax based on what you make up to 10 percent based on income the more you make the less reduction.
taco_helmet on
Trudeau’s immigration policies may increase the cost of housing, but also alleviated the tax burden on working families by increasing the % of working age population in the workforce. I understand why that is an unpopular position. Immigrants are more likely to work in lower wage jobs, to co-habitate, to disincentivize investments in productivity, and to compete with Canadians for housing and other resources. All that is mostly true. But they (SIN 9 numbers for TRs) do pay a lot of taxes that the rest of us don’t need to pay and OAS recipients will be part of that bill. We have a huge fucking fiscal problem.Â
7 Comments
Points from the article:
РBloc Qu̩b̩cois demands a 10% OAS increase for those aged 65-74 and protection for supply-managed markets (pay your boomers and pay your cartels).
– A non-binding motion supporting these demands passed.
– Increasing OAS may mainly benefit higher-income seniors, worsening income inequality.
– Seniors have experienced better financial conditions than younger households recently.
– Estimated cost of OAS increase exceeds $3 billion annually, adding to federal debt.
– Historically, such OAS increases were funded by raising income taxes. Such increase would cost working household up to $500.
– Aging population is already straining finances; OAS increase could worsen fiscal pressures.
I fine with boosting OAS as long as it’s paid for by a wealth tax. Many olds are doing great but some are doing poorly. Also OAS plus CPP is way too low and not enough to live on.
1927 Â *Old Age Pensions Act*Â was enacted, permitting the federal government to give assistance to provinces that provided a pension to British subjects 70 and older.
[Civilization.ca – The History of Canada’s Public Pensions (historymuseum.ca)](https://www.historymuseum.ca/cmc/exhibitions/hist/pensions/cpp-timeline_e.html)
If you work your whole life in Canada you should be taken care of at 65, the country can afford it.
OAS is pretty outrageous at this point. The amount of tax revenue it requires from the working population is staggering, all to top up the most well off generation in our country. As young workers are struggling and cannot afford property, retirees collecting an income of up to $150k still get OAS. I’m all for taking care of elderly people, but something’s gotta give. Increasing it a further ten percent seems like a slap in the face to the young Canadians starting their careers.
I would sooner a reduction of income tax based on what you make up to 10 percent based on income the more you make the less reduction.
Trudeau’s immigration policies may increase the cost of housing, but also alleviated the tax burden on working families by increasing the % of working age population in the workforce. I understand why that is an unpopular position. Immigrants are more likely to work in lower wage jobs, to co-habitate, to disincentivize investments in productivity, and to compete with Canadians for housing and other resources. All that is mostly true. But they (SIN 9 numbers for TRs) do pay a lot of taxes that the rest of us don’t need to pay and OAS recipients will be part of that bill. We have a huge fucking fiscal problem.Â