54 billion stolen by the government!

[LoneWolf_53]

Insurance absolutely is an investment. It's a risk management plan in which you're investing money (your EI contribution) in order to transfer risk from yourself to another (the government). What part of *that* do you not understand?

Clearly we have vastly differing views of what an investment is.

An investment is the outlay of money usually for income or profit. Most people I know don't expect to have to rely on EI for income, and certainly not for profit.

EI is insurance and just as I pay for auto insurance, hoping all the while to never have the need to use it, so EI is viewed by most, but by all means spin it any way you wish.

Everyone throws money into the pot called EI, but most don't expect to get anything back from it.

You want to invest buy stocks.

Oh and FYI, EI premiums are something you "must" pay, as does the employer, so again completely different than an investment, where choosing to participate or not is up to each individual person. You don't get that choice here because it's a federal work insurance program.

The "I" in EI stands for insurance, I've never heard it called the Employment Investment program.

[Captain Awesome]

CA - you miss the point.

Nope. If for some reason I have stacks of money in one of my pockets destined for gas money, but I haven't paid my Visa bill in months, it only makes sense to put that money to use leaving appropriate amount of money for gas. Govt paid its bills instead of borrowing money - sounds like a good decision to me.

[maryjane48]

Not realy that money should go to lowerimg premiums ,taking it to use Elsewhere is theft

[Captain Awesome]

Well, that's your opinion. Thank god people who run this country have a different one.

[36Drew]

Clearly we have vastly differing views of what an investment is.

An investment is the outlay of money usually for income or profit. Most people I know don't expect to have to rely on EI for income, and certainly not for profit.

EI is insurance and just as I pay for auto insurance, hoping all the while to never have the need to use it, so EI is viewed by most, but by all means spin it any way you wish.

Everyone throws money into the pot called EI, but most don't expect to get anything back from it.

You want to invest buy stocks.

Oh and FYI, EI premiums are something you "must" pay, as does the employer, so again completely different than an investment, where choosing to participate or not is up to each individual person. You don't get that choice here because it's a federal work insurance program.

The "I" in EI stands for insurance, I've never heard it called the Employment Investment program.

I absolutely understand that the I in EI stands for insurance. I also understand what risk management is. I also have a hankering that my bi-weekly paycheque deductions rival your actual gross pay. EI is absolutely insurance, a risk management program, and it is entirely possible to use the term "investment". Not all investment returns are monetary gains. It's a shame you don't grasp that.

As for EI itself - it needs to go or be drastically revamped. When you and I are subsidizing seasonal workers because they cannot save up for a slow season or otherwise be motivated to find suitable employment, the system is dramatically broken. That would be akin to allowing motorists to drive their car into a brick wall whenever they wanted a payout.

[Ranger66]

“Not realy that money should go to lowerimg premiums”

This statement is correct; lowering the cost of doing business is good for the economy. The real problem here is a government that is using EI as a tax that hurts the lowest income brackets. If the government needs more money because they are over spending then they should be up front about it and raise taxes. Deceit is what it is.

[Bsuds]

When you and I are subsidizing seasonal workers because they cannot save up for a slow season or otherwise be motivated to find suitable employment, the system is dramatically broken.

How does someone making min wage or not much more save for the "off" season?

You could be right about the system being broken when EI will find any excuse to get out of paying someone who is out of work.

Just remember if it wasn't for seasonal workers you wouldn't have many fruits and vegetables on your table and no golf course to go play at.

[36Drew]

When you and I are subsidizing seasonal workers because they cannot save up for a slow season or otherwise be motivated to find suitable employment, the system is dramatically broken.

How does someone making min wage or not much more save for the "off" season?

Work a second job to save up. Live within their means. Instead of relying on EI, save the money you'd otherwise spend on an expensive cell plan or a car payment.

You could be right about the system being broken when EI will find any excuse to get out of paying someone who is out of work.

I think in a lot of cases, EI is probably quite right in being frugal. It's not meant to be collected every 6 months.

Just remember if it wasn't for seasonal workers you wouldn't have many fruits and vegetables on your table and no golf course to go play at.

Seasonal fruit pickers can get jobs working at the ski hills in the winter, or pumping gas or flipping burgers. I don't see why my tax dollars (or EI contributions) should be going towards subsidizing the wage of an otherwise able-bodied worker. I'd far rather that money went into health or education.

[jimmy4321]

There's many rural areas that literally shut down for winter, and EI gets them through for a few months. Usually in these areas the seasonal income isn't enough to save, EI doesn't pay enough to opt for it rather than work if there was work.

They also should make it similar to ICBC in that if you draw, you pay max contribution off your cheque.For each year you don't it would go down annually to the basic amount everyone pays. It still wouldn't cover the dollar amount that an individual would draw if you went on EI but would help.

[Captain Awesome]

They also should make it similar to ICBC in that if you draw, you pay max contribution off your cheque.

And if one never used it at all, can they stop paying into it?

[jimmy4321]

Everyone would have to but the base rate could be much lower. If they so much money to burn maybe they should assist people in small businesses (no safety net there in the slow season) in the first few years

[hobbyguy]

Nope. If for some reason I have stacks of money in one of my pockets destined for gas money, but I haven't paid my Visa bill in months, it only makes sense to put that money to use leaving appropriate amount of money for gas. Govt paid its bills instead of borrowing money - sounds like a good decision to me.

You still miss the point.

EI is supposed to be an insurance fund. By your reasoning it would be OK for the government to dip into CDIC funds to pay operating bills.

EI funds, like CDIC funds, are supposed to be separate for very good reasons. What's next, CPP funds? Might as well eh? Cut corporate taxes some more and pay for it out of CPP funds, ya, that'll work.

[kurtan]

There are too many people who work seasonal jobs and rely on the system to survive.

I work in construction there simply isnt enough work to keep me busy all year round.

[36Drew]

I work in construction there simply isnt enough work to keep me busy all year round.

Then why not find something else to do during your off-season, or move somewhere where there is enough work to keep yourself busy all year round? You've already made a couple of other posts hinting at where there's money. Go follow the money trail.

[Danielson99]

*removed*