Canadian Money Forum banner

81 - 87 of 87 Posts

·
Registered
Joined
·
2,971 Posts
Don't worry. Our income in retirement isn't what it used to be, but it is still 6 figures a year. We won't be needing any of your money..........LOL.
I have a serious question. If the government changed policy and your retirement income was taxed so you have to pay 15% more tax. Are you okay with that?

Since many are concerned about the "spenders", I would be okay with raising the HST to pay the bills

At it's current rate, the HST revenue is about the same as the cost of the OAS/GIS benefits. An increase should be directed to paying down the national debt.

I am a "spender" so I would be paying more, but that is my choice.
It's not the spenders that people have problems with. You have the money, you want to buy stuff, and can sock some money away for your retirement - great. Just don't come asking for debt forgiveness, or any government hand outs if spent all your money when you are younger (even if you weren't in debt) and expect others to pay for your retirement.

People generally have problems parasites. One who can fully support their lifestyle from cradle to grave is not a parasite.
 

·
Registered
Joined
·
12,522 Posts
Discussion Starter #82 (Edited)
Everyone makes choices.

We buy new vehicles but we don't take vacations. Some people take vacations instead of spending on a new car.

The consumer debt problem could be solved if lenders just said no.

Only problem is a big one. What would the economy look like if people suddenly stopped spending ?

Businesses would close. Unemployment would rise. Home prices would fall. Stock values would fall.

Better for the government to give people cash and allow them to legally default. It keeps the wheels on the economy rolling.

That's why the government is handing out hundreds of billions in COVID support.
 

·
Registered
Joined
·
12,522 Posts
Discussion Starter #83
If people feel badly about government handouts, they have the option of sending back the child benefits, OAS or anything else they collect.

Their choice, but I have no plans on being a martyr for the cause.
 

·
Registered
Joined
·
2,183 Posts
So the consumer debt problem is the lender's fault?? Really??? It is a catalyst no doubt but the root cause is in the debtor's mirror if he or she looks hard enough and is honest enough with him or herself. Total cop out.

That is simply and excuse for people who shift blame for their own actions and choices on to others.
 

·
Registered
Joined
·
12,522 Posts
Discussion Starter #85
Buy something every day. Your local merchants are depending on you.
 

·
Registered
Joined
·
2,183 Posts
Don't pay a dime until 2029. Let's push out the boat and go first class all the way. Worry about it in 2029.
 
81 - 87 of 87 Posts
Top