Abolish the CPP Entirely Before it Kills more Canadians

[Glacier]

The justification for forced pensions is moral. But where’s the morality if pensions promote ill health?

http://business.financialpost.com/fp-co ... -canadians

[hobbyguy]

Lol - who writes this sarcastic nonsense. Had me going until I realized it was April 1st - oh wait, it isn`t.

Really, the right wing People are trying to convince Canadians that CPP is bad for your health?

[occasional thoughts]

I am collecting my CPP, I'm thankful for it, I don't see any socio-political scams going on, unlike the EI scam that government is perpetrating, starting largely with Stephen but ongoing with Justin. Cut the benefits, cut the eligibility, but don't cut the premiums, oops, put them in general revenue. Another place where the Stephen/Justin right wing are screwing us.

[Donald G]

Unread postby Glacier » Today, 2:50 pm

But where’s the morality if pensions promote ill health?

Anyone who believes that pensions promote ill health has to believe that eating to stay healthy promotes sickness and death.

[icanthearyou]

The justification for forced pensions is moral. But where’s the morality if pensions promote ill health?

http://business.financialpost.com/fp-co ... -canadians

*removed*

[manmade]

The justification for forced pensions is moral. But where’s the morality if pensions promote ill health?

is this a serious question?

[dontrump]

CPP in its ideals make sense as too many people are smart enough to save on their own.whats crazy about CPP is its max limits and forced payments after retirement if still working and collecting til age 65
Example I was self employed so I pay my share and the company share.In case you hourly workers are unaware for every dollar you pay your employer is forced by law to also pay a 1.00
my biggest complaint is I was at the max allowed pension (when I turn 60) at age 53 so for 7 years I was forced to pay in CPP(double) cause of self employed and yet got the same max pension as had I stopped paying at age 53
Now I was technically retired but because I was finded from my company I still drew wages
thats ridiculous A pension should always be the more you contribute the more you get back
CPP is unfair in this regard also I think CPP should be tax free

[Glacier]

is this a serious question?

I would assume so.

[occasional thoughts]

don, baby, CPP contributions are tax deductible so CPP proceeds are taxable, as with all superannuation type schemes. I don't have a problem with that.

[Donald G]

Unread postby occasional thoughts » 48 minutes ago

don, baby,

I appreciate the endearment but what is your comment in response to ??

[Rwede]

don, baby, CPP contributions are tax deductible so CPP proceeds are taxable, as with all superannuation type schemes. I don't have a problem with that.

CPP premiums only give non-refundable tax credits at 15%.

CPP payments can attract income tax at the higher end of the marginal rate, 40% plus.

This is why I prefer RRSPs, where the tax savings at the marginal rate represents a tremendous motivation for people to contribute. Well, people who understand how taxes work, that is, are motivated. Seems most have no idea how the tax system in this country works, and thus they rely on their government to tell them that a 15% non-refundable tax credit is better than a 40% income tax savings.

[icanthearyou]

The justification for forced pensions is moral. But where’s the morality if pensions promote ill health?

http://business.financialpost.com/fp-co ... -canadians

can someone provide a link for this "forced retirement/cpp pension" thing that this opinion piece talks about? Because I can't find anything

[K_teela]

CPP payments can attract income tax at the higher end of the marginal rate, 40% plus.

You mean just like RRSPs can as you're withdrawing them?

This is why I prefer RRSPs, where the tax savings at the marginal rate represents a tremendous motivation for people to contribute. Well, people who understand how taxes work, that is, are motivated. Seems most leftists have no idea how the tax system in this country works, and thus they rely on their Liberal government to tell them that a 15% non-refundable tax credit is better than a 40% income tax savings.

When it comes to CPP/RRSP, it's not one or the other. You may not be aware of this, but you can actually use both...and your CPP contributions have no effect on how much you can deposit into your RRSP :) There's also a third option, a TFSA, which you don't get income tax reduction...is still a great way to lower the taxes your paying later on, especially if you're already collecting from RRSP, CPP and/or a pension plan.

"Leftists" are just as aware of how the tax system works as "rightists", but don't get angry about every little change that a non-Conservative party makes in our country.

The CPP has been around a long time, but I guess since now the Liberals are in power...the CPP is apparently killing people and it's all their fault. What a joke.

[Rwede]

can someone provide a link for this "forced retirement/cpp pension" thing that this opinion piece talks about? Because I can't find anything

Maybe look on your pay stub *removed* . It's right there.

[Rwede]

You mean just like RRSPs can as you're withdrawing them?

Of course. Tax in, tax out at an equal rate, which even you have to admit is better than paying 40% and saving 15%.

When it comes to CPP/RRSP, it's not one or the other. You may not be aware of this, but you can actually use both...and your CPP contributions have no effect on how much you can deposit into your RRSP :) There's also a third option, a TFSA, which you don't get income tax reduction...is still a great way to lower the taxes your paying later on, especially if you're already collecting from RRSP, CPP and/or a pension plan.

"Leftists" are just as aware of how the tax system works as "rightists", but don't get angry about every little change that a non-Conservative party makes in our country.

Justin' new payroll tax reduces the amount of money available for people to contribute to RRSPs and TFSAs. That's a fact: if I take $500 more a year from you, you'll have less money to put away. And if I take $500 more a year from your employer, he's going to take that into consideration when annual raises are doled out, and you'll lose again.

I'm glad you brought up TFSAs. Justin slashed TFSAs by 41%, causing a large reduction in working families' abilities to put money away for retirement.

Justin hates working people, and has taken away much of their ability to save for retirement, and replaced that with a job-killing payroll tax increase.

If you understood how the tax system works, you'd share our outrage. You've proven you don't know how it works, whatsoever.