Saturday, June 5, 2010

Another sky is blue moment brought to you by Jack Layton

Layton blasts corporate tax breaks- Politics -

You know, I could understand Mr. Layton opposing everything listed in the article. I understand that Mr. Layton wants to suck everything possible out of corporations. I understand that he wants to do everything in his power to ensure that we Canadians continue to support money losing, life sucking, unionized crown corporations rather than forcing them to be competitive and profitable. I understand all this.

What I don't understand is where his head is at when it comes to the CPP.

So Mr. Layton? Jack? I'm going to give you some history on the CPP, just so that you understand how absurd your assertion is. The CPP was legislated in 1965 and began in 1966 as an elaborate ponzii scheme. The whole thing was meant to be funded on the backs of the current workers. In 1997, the rules changed such that the CPP became partially funded. Since that time, the plan has steadily moved towards being fully funded by the contributions currently being made.

Now here's the thing Jack - nothing in the CPP ever intended it to be funded out of tax receipts. To have YOU, Jack, suggest that corporate tax cuts could just as easily have been rescinded in favour of beefing up the CPP benefits currently paid smacks as political opportunism - hurting the faceless entity in order to enrich the masses. To be quite frank, Jack, the CPP was never intended to be a comprehensive pension plan, it was intended to force most workers without a pension plan to save something for their retirement. In that goal it succeeded. In the rest, it fails miserably.

So to close Jack, I've said it before, and I'll say it again. The LAST thing that needs to be done is to give more to people who have not fully funded the CPP in the past. The more you push for it, the more I will make sure that every one of my clients does everything they can to save every other way EXCEPT the CPP. After all, if you want to return it to the ponzii scheme it started off as, then so be it, but you should always remember one thing - people in ponzii schemes have a CHOICE whether to participate.

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