The CPP is a Ponzi scheme that every single employee at our plant would opt out of were it not mandated by law, and the fact that you are jacking up this tax for the next 5 years is plenty enough reason for every working Canadian to vote you out
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How is it a ponzi scheme?
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How is that different from any other DB pension plan?
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You mean a plan I would actually OWN? If CPP is so great, then give us the choice to opt out and buy RSP's instead. You know, something we actually OWN for our money. Stop forcing us to pay into your scam & let us choose. You are for freedom of choice, aren't you?
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I'm living on CPP right now. It's been a godsend. So far, no scam that I can see, just a regular deposit into my bank account every month. Like clockwork.
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And when you die, do your heirs get the money? Nope. If you had an RRSP, your estate would get everything that's left. And what if you had paid in your whole life and died at 64? Nada for your heirs.
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My dad died at 54. Worked a great job for many years full time. Never married to my mother so The government kept every cent ever paid in.
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So sorry to hear about your family's experience. Currently, the survivor benefit applies to common-law partners. Not sure when that started. Did your dad pass away before that came into effect?
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Great!! Thanks. I worked for 42 years and I clear $614.00 per month on CCP. When is my raise coming? Will the increase cover my carbon taxes. I’ll wait for your answer. I know you are surfing so maybe Butts can answer.
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CPP is based on your contributions over those 42 years. At 65 you will also get OAS and, if low income, the Guaranteed Income Supplement. And, probably all tax free. Plus you'll get the GST rebate. And a carbon tax rebate if eligible. Hopefully you've saved some $$ as well.
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And a lot of it will be taxed back.
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If a lot of it will be taxed back then you're making a lot of money. If, like myself, you're low income, not much, if any, will be taxed back. I'm not sure how much exactly because I'm just about to start OAS next month. I'll let you know what happens. If I remember.
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Pay no attention to this it is just another failing socialist country taking care of their citizens instead of the rich.
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I agree, how dare
@JustinTrudeau look after us when there are so many rich people needing their handouts from@AndrewScheer@CPC_HQ! (I'm just throwing this in, Don't rain on my list, I just signed up!
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Look after us? Taxes went up for many middle class, and CPP contributions increasing. Veterans, homeless and indigenous are still waiting for needed services. What hand-outs from Scheer?
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I do payroll & income taxes have gone down twice for middle class. I don't begrudge paying for my retirement thank you very much, paying for it ourselves is personal responsibility is it not? I agree with some of what of you say, but be fair. Try the SK gov't & their taxes.
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The SK conservatives have exploded the deficit & are killing us with taxes, cutting services & corruption. I'd take Trudeau style gov't here any day thanks.
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For best, review the Liberal report card first.
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Canada has serious trade issues which Liberals are exacerbating, including destroyed relations with India/Asia-Pacific & not ratifying TPP now, with the US from retaliatory tariffs (Cda not in same position as others) & NAFTA demands for gender/indigenous/CC, which don’t belong.
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We’ve suffered 26% decline in business investment since’15; a government with the smallest legislative agenda in recent history, and a gender Budget without proper focus on economic issues, for which IMF has raised concerns. There’s no meeting the promised prosperity.
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