CPP Lags behind
Harper (says he’s) ambivalent because lower-income Canadians don’t contribute to the CPP. Neither do Numbered Companies. Neither do most of those who have 6 digit salaries or more. I guess he forgot that they can’t afford it! Given that Numbered Companies and businesses in general account for the majority of sales of goods and services in Canada, you’d think Government would begin to sway the tax burden, but no, its always the Middle Class workers who get the brunt.
If the government of Canada does not want to shore up its pension plan, like it orders all other pensions plan in Canada to do or face legal fines, etc, then here’s what it should do: First - Strike the Bail-In law. Second – give me back every penny I paid into the CPP and let me do as I please with it. Third – if I place the amount in an RRSP, or any other registered account, the amount will not be taxable; make it so that it is considered in my yearly contribution.