92% of families face tax hike of over $2,200 beginning in 2019

[Anonymous]

new Fraser Institute report — The Effect of Canadian Families of Changes to Federal Income Tax and CPP Payroll Tax — says more than 90% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025. The first of seven increases to CPP tax — which all workers must pay — begins January 2019. The study's co-author, Charles Lammam, talks about the impact on middle-class families.



What was the most surprising thing you found in the report?



"Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they've already put in the case, we've found that's not true for the vast majority of middle class families. But then there are major tax changes set to come into effect, starting next year, particularly the payroll tax hike to fund the Canada Pension Plan expansion. We found that plus what has already been implemented will result in over 92% of all families with children in Canada paying higher taxes and they'll be paying on average $2,200 more per year."



Why is this significant?



"The Trudeau government has repeatedly claimed to cut taxes on the vast majority of families and our findings show that's not the case...The reason why the Trudeau government is claiming they cut taxes because they're focusing on just one of the many changes that they've either enacted themselves or spearheaded as a government. The focus has been on the federal rate cut from 22% to 20.5% — however, the reality is they've introduced several other tax changes both to the personal income tax system and they've spearheaded with the provinces, CPP, which will result in higher payroll taxes."





What does a $2,200 tax hike mean in context for 92% of families in Canada?



"It could be a mortgage payment for a family, it could be childcare, grocery bills. We're not talking about a trivial amount here. It is a significant increase in the tax bill, no doubt. When we look at the middle class, they're actually more hard-hit than the overall average. Which is ironic because that is the group of families that Trudeau government has said they want to help. In fact, what will happen in practice, there will be basically no tax decrease for anybody once the CPP tax changes are in full effect."



What happens to the remaining 8% of families?



"Either their tax bill stays the same or slightly decrease. We don't do the analysis – who the incomes are of the 8%. It's not something our analysis includes. What I can say is when you look at that middle group of families – these are families with income of $78,000 and $110,000. About 99% in this income range will be paying higher taxes."



Your report explains that Canadian families could be paying even more. Can you explain?



"In our report, we've only calculated two of the major tax changes that have been announced so far. But then there's others that we do not account for in these numbers. So, for example, you raise the carbon tax. This is a federally mandated tax that will be increasing over the course of the coming years. The potential for an even higher tax bill for families is greater than what we've outlined here. There's also the scaling back of the contribution room of the Tax Free Savings Account, there are also new taxes they're implementing on small businesses."



How can Canadian families prepare for this up-shift in taxes beginning Jan. 2019?



"I don't know if they can. A tax is a forced contribution to the government. I think the takeaway is we have a government that is repeating a claim to Canadians and I think it's important for Canadians to be aware of what the claim is. And the reality is contrary to what the government is saying."



BY THE NUMBERS



92.2%  –  The percentage of Canadian families with kids that will pay higher taxes as a result of federal income tax changes and the Canada Pension Plan payroll tax hike



$2,218 – What Canadian families with kids—regardless of income—will pay, on average, in higher taxes



$1,624 – What the CPP tax increase alone will cost



2025 – The year the CPP payroll tax hike will be fully implemented

https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk">https://torontosun.com/news/national/92 ... _Z5f67PsJk">https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk



Trudeau has made life expensive for Canadians, but you haven't seen anything yet,

[Anonymous]

new Fraser Institute report — The Effect of Canadian Families of Changes to Federal Income Tax and CPP Payroll Tax — says more than 90% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025. The first of seven increases to CPP tax — which all workers must pay — begins January 2019. The study's co-author, Charles Lammam, talks about the impact on middle-class families.



What was the most surprising thing you found in the report?



"Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they've already put in the case, we've found that's not true for the vast majority of middle class families. But then there are major tax changes set to come into effect, starting next year, particularly the payroll tax hike to fund the Canada Pension Plan expansion. We found that plus what has already been implemented will result in over 92% of all families with children in Canada paying higher taxes and they'll be paying on average $2,200 more per year."



Why is this significant?



"The Trudeau government has repeatedly claimed to cut taxes on the vast majority of families and our findings show that's not the case...The reason why the Trudeau government is claiming they cut taxes because they're focusing on just one of the many changes that they've either enacted themselves or spearheaded as a government. The focus has been on the federal rate cut from 22% to 20.5% — however, the reality is they've introduced several other tax changes both to the personal income tax system and they've spearheaded with the provinces, CPP, which will result in higher payroll taxes."





What does a $2,200 tax hike mean in context for 92% of families in Canada?



"It could be a mortgage payment for a family, it could be childcare, grocery bills. We're not talking about a trivial amount here. It is a significant increase in the tax bill, no doubt. When we look at the middle class, they're actually more hard-hit than the overall average. Which is ironic because that is the group of families that Trudeau government has said they want to help. In fact, what will happen in practice, there will be basically no tax decrease for anybody once the CPP tax changes are in full effect."



What happens to the remaining 8% of families?



"Either their tax bill stays the same or slightly decrease. We don't do the analysis – who the incomes are of the 8%. It's not something our analysis includes. What I can say is when you look at that middle group of families – these are families with income of $78,000 and $110,000. About 99% in this income range will be paying higher taxes."



Your report explains that Canadian families could be paying even more. Can you explain?



"In our report, we've only calculated two of the major tax changes that have been announced so far. But then there's others that we do not account for in these numbers. So, for example, you raise the carbon tax. This is a federally mandated tax that will be increasing over the course of the coming years. The potential for an even higher tax bill for families is greater than what we've outlined here. There's also the scaling back of the contribution room of the Tax Free Savings Account, there are also new taxes they're implementing on small businesses."



How can Canadian families prepare for this up-shift in taxes beginning Jan. 2019?



"I don't know if they can. A tax is a forced contribution to the government. I think the takeaway is we have a government that is repeating a claim to Canadians and I think it's important for Canadians to be aware of what the claim is. And the reality is contrary to what the government is saying."



BY THE NUMBERS



92.2%  –  The percentage of Canadian families with kids that will pay higher taxes as a result of federal income tax changes and the Canada Pension Plan payroll tax hike



$2,218 – What Canadian families with kids—regardless of income—will pay, on average, in higher taxes



$1,624 – What the CPP tax increase alone will cost



2025 – The year the CPP payroll tax hike will be fully implemented

https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk">https://torontosun.com/news/national/92 ... _Z5f67PsJk">https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk



Trudeau has made life expensive for Canadians, but you haven't seen anything yet,

Taking almost two hundred net dollars more a month away from my family.

 

[Anonymous]

Taking almost two hundred net dollars more a month away from my family.

 

If he can claim he is working for the middle class in next year's election and not giggle, he is a gifted liar.

[Chuck Bronson]

There are two sides to the CPP issue...  There has to be adequate CPP funding, or you'll end up with a huge elderly population that can't afford to live, and then guess whos problem they become?



CPP income is a joke.  People can barely live on it.  The ONLY reason it has worked so far, is that historically most people had a unionized job that also had a pension plan.  Those days are disappearing fast.



Most people can't save, and as such WILL rely on enough CPP income for them to NOT become our problem, and the only way to make that work is to increase the CPP deductions.



That said, I do not pay CPP, but I am self employed and can opt to do that.  The 'average' retired guy in a few more decades will rely on every cent of the CPP, as that will likely be the only income.

[Anonymous]

There are two sides to the CPP issue...  There has to be adequate CPP funding, or you'll end up with a huge elderly population that can't afford to live, and then guess whos problem they become?



CPP income is a joke.  People can barely live on it.  The ONLY reason it has worked so far, is that historically most people had a unionized job that also had a pension plan.  Those days are disappearing fast.



Most people can't save, and as such WILL rely on enough CPP income for them to NOT become our problem, and the only way to make that work is to increase the CPP deductions.



That said, I do not pay CPP, but I am self employed and can opt to do that.  The 'average' retired guy in a few more decades will rely on every cent of the CPP, as that will likely be the only income.

CPP has adequate funding. What we are talking about are significantly reducing average earnings of employees. What is also means is another job killing burden for job creators.



CPP was never meant to support workers comfortably in retirement. It was designed to supplement savings. But, Canadians are living longer and being taxed more. Between provinces and Ottawa overcharging businesses and workers, they are making it hard to save.



The solution to CPP is to privatize it. Singapore has mandatory savings accounts that give individuals choice over their own retirement. Sweden semi privatized it's national pension plan.

[Anonymous]

new Fraser Institute report — The Effect of Canadian Families of Changes to Federal Income Tax and CPP Payroll Tax — says more than 90% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025. The first of seven increases to CPP tax — which all workers must pay — begins January 2019. The study's co-author, Charles Lammam, talks about the impact on middle-class families.



What was the most surprising thing you found in the report?



"Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they've already put in the case, we've found that's not true for the vast majority of middle class families. But then there are major tax changes set to come into effect, starting next year, particularly the payroll tax hike to fund the Canada Pension Plan expansion. We found that plus what has already been implemented will result in over 92% of all families with children in Canada paying higher taxes and they'll be paying on average $2,200 more per year."



Why is this significant?



"The Trudeau government has repeatedly claimed to cut taxes on the vast majority of families and our findings show that's not the case...The reason why the Trudeau government is claiming they cut taxes because they're focusing on just one of the many changes that they've either enacted themselves or spearheaded as a government. The focus has been on the federal rate cut from 22% to 20.5% — however, the reality is they've introduced several other tax changes both to the personal income tax system and they've spearheaded with the provinces, CPP, which will result in higher payroll taxes."





What does a $2,200 tax hike mean in context for 92% of families in Canada?



"It could be a mortgage payment for a family, it could be childcare, grocery bills. We're not talking about a trivial amount here. It is a significant increase in the tax bill, no doubt. When we look at the middle class, they're actually more hard-hit than the overall average. Which is ironic because that is the group of families that Trudeau government has said they want to help. In fact, what will happen in practice, there will be basically no tax decrease for anybody once the CPP tax changes are in full effect."



What happens to the remaining 8% of families?



"Either their tax bill stays the same or slightly decrease. We don't do the analysis – who the incomes are of the 8%. It's not something our analysis includes. What I can say is when you look at that middle group of families – these are families with income of $78,000 and $110,000. About 99% in this income range will be paying higher taxes."



Your report explains that Canadian families could be paying even more. Can you explain?



"In our report, we've only calculated two of the major tax changes that have been announced so far. But then there's others that we do not account for in these numbers. So, for example, you raise the carbon tax. This is a federally mandated tax that will be increasing over the course of the coming years. The potential for an even higher tax bill for families is greater than what we've outlined here. There's also the scaling back of the contribution room of the Tax Free Savings Account, there are also new taxes they're implementing on small businesses."



How can Canadian families prepare for this up-shift in taxes beginning Jan. 2019?



"I don't know if they can. A tax is a forced contribution to the government. I think the takeaway is we have a government that is repeating a claim to Canadians and I think it's important for Canadians to be aware of what the claim is. And the reality is contrary to what the government is saying."



BY THE NUMBERS



92.2%  –  The percentage of Canadian families with kids that will pay higher taxes as a result of federal income tax changes and the Canada Pension Plan payroll tax hike



$2,218 – What Canadian families with kids—regardless of income—will pay, on average, in higher taxes



$1,624 – What the CPP tax increase alone will cost



2025 – The year the CPP payroll tax hike will be fully implemented

https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk">https://torontosun.com/news/national/92 ... _Z5f67PsJk">https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk



Trudeau has made life expensive for Canadians, but you haven't seen anything yet,

I don't know how much more gouging Canadians can take.

[Anonymous]

new Fraser Institute report — The Effect of Canadian Families of Changes to Federal Income Tax and CPP Payroll Tax — says more than 90% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025. The first of seven increases to CPP tax — which all workers must pay — begins January 2019. The study's co-author, Charles Lammam, talks about the impact on middle-class families.



What was the most surprising thing you found in the report?



"Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they've already put in the case, we've found that's not true for the vast majority of middle class families. But then there are major tax changes set to come into effect, starting next year, particularly the payroll tax hike to fund the Canada Pension Plan expansion. We found that plus what has already been implemented will result in over 92% of all families with children in Canada paying higher taxes and they'll be paying on average $2,200 more per year."



Why is this significant?



"The Trudeau government has repeatedly claimed to cut taxes on the vast majority of families and our findings show that's not the case...The reason why the Trudeau government is claiming they cut taxes because they're focusing on just one of the many changes that they've either enacted themselves or spearheaded as a government. The focus has been on the federal rate cut from 22% to 20.5% — however, the reality is they've introduced several other tax changes both to the personal income tax system and they've spearheaded with the provinces, CPP, which will result in higher payroll taxes."





What does a $2,200 tax hike mean in context for 92% of families in Canada?



"It could be a mortgage payment for a family, it could be childcare, grocery bills. We're not talking about a trivial amount here. It is a significant increase in the tax bill, no doubt. When we look at the middle class, they're actually more hard-hit than the overall average. Which is ironic because that is the group of families that Trudeau government has said they want to help. In fact, what will happen in practice, there will be basically no tax decrease for anybody once the CPP tax changes are in full effect."



What happens to the remaining 8% of families?



"Either their tax bill stays the same or slightly decrease. We don't do the analysis – who the incomes are of the 8%. It's not something our analysis includes. What I can say is when you look at that middle group of families – these are families with income of $78,000 and $110,000. About 99% in this income range will be paying higher taxes."



Your report explains that Canadian families could be paying even more. Can you explain?



"In our report, we've only calculated two of the major tax changes that have been announced so far. But then there's others that we do not account for in these numbers. So, for example, you raise the carbon tax. This is a federally mandated tax that will be increasing over the course of the coming years. The potential for an even higher tax bill for families is greater than what we've outlined here. There's also the scaling back of the contribution room of the Tax Free Savings Account, there are also new taxes they're implementing on small businesses."



How can Canadian families prepare for this up-shift in taxes beginning Jan. 2019?



"I don't know if they can. A tax is a forced contribution to the government. I think the takeaway is we have a government that is repeating a claim to Canadians and I think it's important for Canadians to be aware of what the claim is. And the reality is contrary to what the government is saying."



BY THE NUMBERS



92.2%  –  The percentage of Canadian families with kids that will pay higher taxes as a result of federal income tax changes and the Canada Pension Plan payroll tax hike



$2,218 – What Canadian families with kids—regardless of income—will pay, on average, in higher taxes



$1,624 – What the CPP tax increase alone will cost



2025 – The year the CPP payroll tax hike will be fully implemented

https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk">https://torontosun.com/news/national/92 ... _Z5f67PsJk">https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk



Trudeau has made life expensive for Canadians, but you haven't seen anything yet,

This, cancelling many of the previous Conservative government's tax credits and a carbon tax. a few thousand bucks more a year after 45 years of paying into CPP. It's not worth the drag on jobs.

[Chuck Bronson]

CPP was never meant to support workers comfortably in retirement. It was designed to supplement savings.

And that's what I'm saying...  What it was historically meant to do, is different than what it actually has to do now.



I had this same argument with a buddy of mine, pissed off about deductions like CPP.  I asked him what all these old people will do when they retire, with CPP being their ONLY means of income.  I asked him whose problem he thinks they will become...  As is usual, he couldn't come up with a viable answer, so I gave him two possible outcomes:  They become OUR problem financially, or we start sending them to the gas chambers.  Only TWO possible outcomes.



The days of good union pensions are dwindling, and most of the population cannot save a penny, for whatever reasons that can be appropriate for a separate thread.  These are the FACTS!

[Anonymous]

CPP was never meant to support workers comfortably in retirement. It was designed to supplement savings.

And that's what I'm saying...  What it was historically meant to do, is different than what it actually has to do now.



I had this same argument with a buddy of mine, pissed off about deductions like CPP.  I asked him what all these old people will do when they retire, with CPP being their ONLY means of income.  I asked him whose problem he thinks they will become...  As is usual, he couldn't come up with a viable answer, so I gave him two possible outcomes:  They become OUR problem financially, or we start sending them to the gas chambers.  Only TWO possible outcomes.



The days of good union pensions are dwindling, and most of the population cannot save a penny, for whatever reason.  These are the FACTS!

But, the deductions are too high for too long to justify the little bit more money people will collect. It's not worth the loss of jobs. It takes too much money from workers and businesses.

[Chuck Bronson]

But, the deductions are too high for too long to justify the little bit more money people will collect. It's not worth the loss of jobs. It takes too much money from workers and businesses.

Too high according to whom?  The idea is, the more YOU pay in, the more YOU will get back.  I can understand that some don't like a government run pension fund, but I can assure you the majority of the population is unable to save a fucking dime...



And the deductions can't be for too 'long'...  You ONLY pay into the fund while you are actively employed, and at no other time would you.

[Anonymous]

CPP was never meant to support workers comfortably in retirement. It was designed to supplement savings.

And that's what I'm saying...  What it was historically meant to do, is different than what it actually has to do now.



I had this same argument with a buddy of mine, pissed off about deductions like CPP.  I asked him what all these old people will do when they retire, with CPP being their ONLY means of income.  I asked him whose problem he thinks they will become...  As is usual, he couldn't come up with a viable answer, so I gave him two possible outcomes:  They become OUR problem financially, or we start sending them to the gas chambers.  Only TWO possible outcomes.



The days of good union pensions are dwindling, and most of the population cannot save a penny, for whatever reason.  These are the FACTS!

But, the deductions are too high for too long to justify the little bit more money people will collect. It's not worth the loss of jobs. It takes too much money from workers and businesses.

Exactly.

[Gaon]

The increased rates are still lower than in Israel. Employer pays 6.86% and employee pays 9.86%.

[Anonymous]

The increased rates are still lower than in Israel. Employer pays 6.86% and employee pays 9.86%.

That is a lot.

[Anonymous]

new Fraser Institute report — The Effect of Canadian Families of Changes to Federal Income Tax and CPP Payroll Tax — says more than 90% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025. The first of seven increases to CPP tax — which all workers must pay — begins January 2019. The study's co-author, Charles Lammam, talks about the impact on middle-class families.



What was the most surprising thing you found in the report?



"Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they've already put in the case, we've found that's not true for the vast majority of middle class families. But then there are major tax changes set to come into effect, starting next year, particularly the payroll tax hike to fund the Canada Pension Plan expansion. We found that plus what has already been implemented will result in over 92% of all families with children in Canada paying higher taxes and they'll be paying on average $2,200 more per year."



Why is this significant?



"The Trudeau government has repeatedly claimed to cut taxes on the vast majority of families and our findings show that's not the case...The reason why the Trudeau government is claiming they cut taxes because they're focusing on just one of the many changes that they've either enacted themselves or spearheaded as a government. The focus has been on the federal rate cut from 22% to 20.5% — however, the reality is they've introduced several other tax changes both to the personal income tax system and they've spearheaded with the provinces, CPP, which will result in higher payroll taxes."





What does a $2,200 tax hike mean in context for 92% of families in Canada?



"It could be a mortgage payment for a family, it could be childcare, grocery bills. We're not talking about a trivial amount here. It is a significant increase in the tax bill, no doubt. When we look at the middle class, they're actually more hard-hit than the overall average. Which is ironic because that is the group of families that Trudeau government has said they want to help. In fact, what will happen in practice, there will be basically no tax decrease for anybody once the CPP tax changes are in full effect."



What happens to the remaining 8% of families?



"Either their tax bill stays the same or slightly decrease. We don't do the analysis – who the incomes are of the 8%. It's not something our analysis includes. What I can say is when you look at that middle group of families – these are families with income of $78,000 and $110,000. About 99% in this income range will be paying higher taxes."



Your report explains that Canadian families could be paying even more. Can you explain?



"In our report, we've only calculated two of the major tax changes that have been announced so far. But then there's others that we do not account for in these numbers. So, for example, you raise the carbon tax. This is a federally mandated tax that will be increasing over the course of the coming years. The potential for an even higher tax bill for families is greater than what we've outlined here. There's also the scaling back of the contribution room of the Tax Free Savings Account, there are also new taxes they're implementing on small businesses."



How can Canadian families prepare for this up-shift in taxes beginning Jan. 2019?



"I don't know if they can. A tax is a forced contribution to the government. I think the takeaway is we have a government that is repeating a claim to Canadians and I think it's important for Canadians to be aware of what the claim is. And the reality is contrary to what the government is saying."



BY THE NUMBERS



92.2%  –  The percentage of Canadian families with kids that will pay higher taxes as a result of federal income tax changes and the Canada Pension Plan payroll tax hike



$2,218 – What Canadian families with kids—regardless of income—will pay, on average, in higher taxes



$1,624 – What the CPP tax increase alone will cost



2025 – The year the CPP payroll tax hike will be fully implemented

https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk">https://torontosun.com/news/national/92 ... _Z5f67PsJk">https://torontosun.com/news/national/92-of-middle-class-families-face-tax-hike-over-2200-beginning-in-2019-fraser-institute?fbclid=IwAR0l3K9rLwHytkVKchIXT3CS3FDQdYGarwCq41z6Rw3rXACzu_Z5f67PsJk



Trudeau has made life expensive for Canadians, but you haven't seen anything yet,

Taking almost two hundred net dollars more a month away from my family.

 

By making you poorer, True Dope is strengthening the middle class.



How does he get away with this shit,

[JOE]

There are two sides to the CPP issue...  There has to be adequate CPP funding, or you'll end up with a huge elderly population that can't afford to live, and then guess whos problem they become?



CPP income is a joke.  People can barely live on it.  The ONLY reason it has worked so far, is that historically most people had a unionized job that also had a pension plan.  Those days are disappearing fast.



Most people can't save, and as such WILL rely on enough CPP income for them to NOT become our problem, and the only way to make that work is to increase the CPP deductions.



That said, I do not pay CPP, but I am self employed and can opt to do that.  The 'average' retired guy in a few more decades will rely on every cent of the CPP, as that will likely be the only income.

CPP has adequate funding. What we are talking about are significantly reducing average earnings of employees. What is also means is another job killing burden for job creators.



CPP was never meant to support workers comfortably in retirement. It was designed to supplement savings. But, Canadians are living longer and being taxed more. Between provinces and Ottawa overcharging businesses and workers, they are making it hard to save.



The solution to CPP is to privatize it. Singapore has mandatory savings accounts that give individuals choice over their own retirement. Sweden semi privatized it's national pension plan.

Really eh, sb?



If thats the case, where can you suggest what may be a more affordable place to retire then?



Seems the dollar isn't worth much in Canada so the solution may be to go somewhere else where it goes further.



hopefully A place with a warmer sunnier climate.



How about Vietnam?



Friend of mine a white guy went there got married to a Vietnamese woman he seems happy.



He was poor here but over there hes living comfortably.



Philippines is nice too I hear.



Can get a house for $20,000.



If retirement here isn't affordable then maybe we'll see an exodus of people leaving where it is.