Comments on: Published in Report Magazine ~ Talkin’ Bout My Generation: Why the Coming Demographic Collapse Will Hurt Taxpayers Coming of Age

By: Lee Harding

Lee Harding — Fri, 12 Jun 2009 15:27:32 +0000

This demographic tsunami is indeed a big deal. In Canada, this is also exacerbated by the First Nations population which is burgeoning in birth rates, struggles with high unemployment and social problems, and has numerous tax exemptions. Will this be straightened out by 2031? Hope so, but if not, oh boy…

By: Kez

Kez — Thu, 11 Jun 2009 14:05:25 +0000

I learned about this in high school in the late 80s/early 90s so I’m not sure why some people are still surprised by it and questioning it’s scare factor. We made charts and tables showing how much greater and greater the number of ‘over 65s’ there would be in our future and it was explained to us why that was a problem. And that while a lot of women were joining the work force, the generation above me (my mother’s group) were still not in high enough numbers to cover future pensions.

I also think on my own now about the greater amount of money needed now and in the future – what people were paying in taxes/CP/EI etc 10 20 30 years ago is not reflecting what people actually receive now to account for the higher cost of living. I make half of what my dad made 13 years ago, but pay almost double in deductions (I had 2 of his last pay statements before his death). The cost of living in my city has jumped enormously the past few years and anyone hitting age 65 soon will need a heck of a lot more money to live on than was put into the system via their own taxes and others’. The same can be said about EI – maternity leave is 52 weeks now, unemployment is the same I believe, and what I received in 2 months is more than I paid in over 15 years of work! Let alone what I received the rest of the year – all of that comes from other people’s taxes/deductions and empties the pot for the future. My mom has not worked since 1970 but will start receiving CP and OAP and whatever else next year. She will be living off money put in by others too. By the time I reach retirement age, let along my children, I can’t help but wonder where that money is going to come from.

By: Grandma

Grandma — Thu, 11 Jun 2009 08:52:49 +0000

This report is flawed in that it does not consider that the up-coming baby boom generation of retirees are paying LOTS of money to the governments. I am the first year of the boomers and most of us worked all of our lives. I am retired and still in the top tax bracket as I have a good, fully taxable pension plan and plenty of good investments. We oldies will be taxed to the max until death and taxed again. I will never receive the OAS and my CPP is taxed at 46%. Don’t be alarmed – just spend less! Many of your generation never made their own curtains or used fabric-covered cardboard boxes for coffee tables in their 20’s.

By: Durward

Durward — Wed, 10 Jun 2009 23:19:53 +0000

“Governments today already plead to the public that they cannot balance their books.”
Huh?
Governments and politicians today as yesterday and tomorrow must continually come up with new programs, laws and ministries to justify their existence and to be put forward in the media so they can climb the great ladder to the treasury keys and power.
It has never been the people of Canada that want nurturing from spoiled civil servants, just small fringe groups with government funding.
Once a country is set up with a constitution, an armed force, penal system( our “justice” system is a joke), and trade deals the effer can near run itself with a bare bones Federal government.
Government is the problem not the solution, less IS better, Federally, Provincially and Municipal.
Who else tells you to tighten your belt while voting themselves a forty percent increase in pay?