Friday, March 5, 2010

Globe: Harper to ask Canadians for input on pension reform

My posted comment:

Harper already engaged in a pension reform exercise when he told Canadians that he would "NEVER raid seniors nest eggs by taxing income trusts", and broke that promise with the PATENTLY FALSE ARGUMENT that income trusts cause tax leakage. What was his proof of alleged tax leakage?....18 pages of blacked out documents, made necessary because the argument of tax leakage was arrived at by leaving out all the taxes collected on RRSPs. So why have RRSPs if the taxes are ignored when it comes time to evaluate new policies? That's like sucking and blowing. the net result of which is we have government that doesn't know if it is coming or going...helping people saving for retirement or nuking their a schizophrenic.

Then to add to the gov't schizophrenia, they tax income trusts in RRSP a second time, for the simple fact the gov't ignored the taxes that RRSPs were paying, but let the pension funds own trusts and not pay the 31.5%.....and they called this "tax fairness" and "leveling the playing field"???

These guys are not to be trusted at all!

Meanwhile the solution known as the Marshall Savings Plan, which resolves all these gross mistakes and unfairnesses should have been a part of Budget 2010 as 79.6% of Canadians were in support of according to Environics Research.

See for more info and comments of support from hundreds of Canadians from across the country.

1 comment:

Dr Mike said...

The biggest thing that the gov`t can do is butt out of the financial markets.

As we saw with the income trust debacle , we had a group of people planning for or in the midst of their retirement that were moving in the direction of self-sufficiency by developing a sustainable income stream.

Gov`t interference has ruined this opportunity for these people to maintain themselves outside of any gov`t dole-outs & now the crunch is on.

Investment vehicles that supply a sustainable & adequate income stream are the fastest & most cost-efficient means of looking after the aging "boomers".

It is just too bad that the people in power were not wise enough to not look a gift horse in the mouth.

Dr Mike