XPost: can.general, can.politics, ott.general   
   From: Canuck57@nospam.com   
      
   On 16/06/2011 11:00 PM, John Fleming wrote:   
   > On Thu, 16 Jun 2011 00:07:12 -0600, while chained to a desk   
   > in the scriptorium Canuck57  wrote:   
   >> $On 15/06/2011 10:13 PM, merlin! wrote:   
   >> $>  "John Fleming"   wrote in message   
   >> $>  news:hkliv6d5fam9sf90dn7gi7gp22vehhajbb@4ax.com...   
   >> $>>  On Wed, 15 Jun 2011 09:23:46 -0400, while chained to a desk   
   >> $>>  in the scriptorium "Fred Williams"   wrote:   
   >> $>>   
   >> $>>>  $One thing you didn't mention, is that now our income tax has to be   
   paid   
   >> $>>>  $in 4 3-monthy installments, rather the whole annually. As seniors,   
   our   
   >> $>>>  $income tax burden is 10% of our pensions - and the above change   
   >> $>>>  $only makes it more burdensome.   
   >> $>   
   >> $>  yeah, most of the taxes fall on working guys who are trying to raise a   
   >> $>  family. That's the Canadian socialist version of "fairness".   
   >> $   
   >> $Actually, the biggest ones screwed are single working people.  Married   
   >> $with kids has many more deductions and generally 2 work capable people.   
   >   
   > These days, you pretty much need two incomes to own a home   
   > where you can raise a family, so both parents have to work.   
   > And I understand a lot of kids after school programs can   
   > cost an arm and a leg too.  Especially if it is something   
   > where your kid needs a lot of extra equipment--like   
   > participation in hockey.   
      
   Depends, I did it on one but yes, the ability to do it with one income   
   as a single is tougher than ever.  Married, hell, I told my wife if she   
   is going to work make more than $35K in a calendar year or forget it and   
   give me the deduction.   
      
   Between her shopping skills, ability to keep a home in ace shape,   
   frugality, tax deduction I win big in $$ and quality of life.  Real   
   sweetie too...love her with everything.   
      
   >> $But basically everyone not living near poverty gets screwed.   
   >   
   > Living in poverty has its drawbacks.  That said, you   
   > probably get a more balanced diet eating cat food than you   
   > do eating the human equivalent.   
      
   I bet some do.  A lot of people are in for a rude reality check when   
   they discover CPP isn't survivable.  And disability or vets too.  Except   
   for vets and disabled, they did it to themselves, trust of big   
   inefficient government skimming CPP, the false promises of government,   
   living high on the hog in good years saving little....   
      
   Just mass stupidity a happening.   
      
   >> $Best way to beat it is use TFSA type accounts.  Use it or loose it as   
   >> $someday some greedy bugger in Ottawa is going to cancel the accounts.   
   >> $You just know it.   
   >   
   > Agreed.  Contributing to the RRSP cuts the taxes owing quite   
   > nicely thank you.   
      
   Yes, and everyone and their dog should have one, even before RRSP.  Two   
   reasons I say this, first is if you are low/med income, your not likely   
   at the top rate.  No sense in doing RRSP at say 15% marginal tax rate,   
   you want 40% marginal rates then RRSP is great.  Seecond reason is that   
   it is very unlikely to see tax relief from greedy governments.  TFSA   
   shelters this completely, where if greedy governemnt go rid of basic   
   deductions, your RRSP tax on the way out could go up.   
      
   People are nuts not to have a TFSA.   
      
   But if you make lots in good years, do both.   
      
   --   
   Government isn't the solution to the bad economy, it is the problem.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)