Quote:
Originally Posted by MarchHare
I think this is a mischaracterization of the Liberal position re: TFSAs. They're not cancelling the program or saying that only rich people use it. They're proposing rolling back the maximum annual contribution limit from $10k to the previous $5.5k amount. It's a fair assessment that typically only the wealthy can afford to take advantage of the $10k cap. That amount is certainly beyond the means of all low-income Canadians and most middle-income earners as well.
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And that's the issue I have with it.
It is not beyond most middle-income earners if they actively save to reach that goal.
I know many people who make MORE money than my wife and I who don't contribute to a TFSA at all. Yet they have nice Audi's and BMWs and $700K houses to live in... If they want to have to work until they are 80, great.
Just don't take away my vehicle to being financially independent sooner because other people have different priorities than me.