Quote:
Originally Posted by rubecube
How exactly is it a punishment? The program in its current form isn't beneficial for the vast majority of Canadians, so it's reasonable to ask whether it's fair to ask the vast majority of Canadians to pay for it. From the other side of that, I know that I personally cannot contribute more than $5k annually to a TFSA, so why should my tax dollars go towards helping you save money? It seems like that's punishing me for not making enough to contribute.
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Just curious - how are your taxes subsiding me saving? I already paid taxes on the money I am placing into my TFSA, so frankly I am paying my fair share.
Quote:
Originally Posted by opendoor
How are you being punished? Do you really think it's an inalienable right to have the government subsidize your savings? You can just as easily put money aside if TFSA contribution limits are rolled back to where they were for the first 6 years they existed.
The purpose of things like TFSAs are to encourage individuals to save money. They've worked somewhat at the $5K level, but there is simply no evidence that increasing it serves any purpose that is worth the billions of dollars it'll cost the country.
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So if no one is using this room (the argument used to justify rolling it back), how on earth is it costing Canada billions of dollars?