QPP/CPP -present expenses-future benefits & the Debt?
Dear Financial Post & Jon Kesselman,
re: "Rebalance public pensions", FinPost, May 12/06
If we are mandatorily removing 9.9% of an employee's pay in addition to each taxpayer's contribution of 15% of every tax-dollar (let's call that 30% of every personal income-tax-dollar) why don't we stop fiddling with 'generational equity' issues in CPP/QPP contributions vs benefits and just focus on paying off the $600B Gross (~$500B net) national debt?
Less debt = less interest charges = less revenue necessary to service debt = lower taxes = more affordable life = more money leftover to save for retirement.
re: "Rebalance public pensions", FinPost, May 12/06
If we are mandatorily removing 9.9% of an employee's pay in addition to each taxpayer's contribution of 15% of every tax-dollar (let's call that 30% of every personal income-tax-dollar) why don't we stop fiddling with 'generational equity' issues in CPP/QPP contributions vs benefits and just focus on paying off the $600B Gross (~$500B net) national debt?
Less debt = less interest charges = less revenue necessary to service debt = lower taxes = more affordable life = more money leftover to save for retirement.
posted by Ed E. Trebor at
6:02 p.m.
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