Quote:
Originally Posted by Geraldsh
TFSAs are the greatest thing since sliced bread. Every Canadian should be encouraged to start one with their first paycheque. The numbers being bandied about are the maximum annual allowance, you can start with far less and watch it grow. The wealth generated within the TFSA is not taxed at withdrawals-a huge savings for retirees.
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Sure, but we already have a TFSA, and most people don't max them out because they need to pay for existing first. Drastically raising the limit only helps those wealthy enough to have the cash to max it out, which means not paying taxes on it. So it's a tax break for the wealthy, primarily, while reducing government income that needs to be made up elsewhere, or cut services. That's why I don't think it's good policy.