Quote:
Originally Posted by GGG
I don’t think you can complain about debt while at the same time advocate for TFSA contribution increases which have significant long term revenue affects for the government with low short term consequences. It’s almost has the same balance sheet affect as taking on debt.
And instead of targeting the benefit all people or lower income you target it at the upper and upper middle class.
With a 10k income at 4% post inflation return for 40 years you have 1 million in a tax free account so you could collect GIS while being a millionaire.
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My concerns about the debt are valid, especially over the top reckless COVID related government spending, regardless of my wishes for an increased TFSA contribution room.
You can collect GIS while being a millionaire. You can also collect maximum OAS with an income up to $79,000 a year. Seniors also got other "one time" government cheques this year, again not means tested, just because they're old and vote.
I rent, I don't own, I'd like the opportunity for more tax free building of my retirement nest egg, you know, like so many in this country that don't get taxed a single cent on their capital gains from the sale of their residence. I'd say that revenue stream should be taxed, but we all know that won't happen.