CPP Liability

[chuckChuck]

Lots of seniors are living off CPP and OAS. Not everyone has had the income to save for retirement on their own.

The private finacial sector has been charging excess management fees on many of their lack lustre investment funds.

In the next recession or depression don't plan on counting on your investments to fund all of your retirement.

[rumrocks]

I've read a few stories lately saying this is one of the reasons governments are embracing the global climate change hysteria.

Governments desperately need money for under funded pensions, as Errol has pointed out numerous times, economies are becoming very fragile.

Most of the time finance ministers know their fiscal policies are not sustainable in the long term, but their need for power drives their decisions to reward the voters. I understand young voters with families and the struggles they go through and I understand as you get older why you call for fiscal restraint.

It's a dilemma to say the least.

[jazz]

Huh? Jazz is in favour of increasing taxes in the US to cover the growing deficit and paying off the debt!
Who would have thought that would happen?

Reigning in QE and raising taxes will be a job killer! LOL

Unlike Canada where the govt has taxed every orifice they can, the US has been more measured so they have some room.

Canada has none, their next tax moves will kill the economy dead. They tried that on higher income earners already and got less revenue back. Most people will never see a CPP payout certainly not anyone under 40.

Just watch the socialist public go crazy when health care premiums get introduced.