Quote:
Originally Posted by hulkrogan
Selfishly it sounds great. But as the article says, the percentage of people hitting the max every year is pretty low. All it's doing is taking away tax burden from people who are diligent savers or have cash to burn, and everyone else has to pick up that slack.
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I guess the question is why is the percentage so low? If it is because most people need to use that money to put food on the table then I get it. But if it is because they have maxed out their credit to drive a new car, live in a $600K house, and eat out each night, I don't know why I should care... IMO if the latter is the larger cause, then it is not a case of the TFSA benefitting the rich, it's a case of the TFSA benefitting people who are smart with their money.
I save a lot of my money, so selfishly, I want the limits doubled so I can have a very comfortable retirement.