Bag Tax Possibly Nixed

[tboy]

^^^^ know anyone who is retired?

I do and since many rrsp's have a mandatory withdrawal, the one's I know are paying the same tax as when they were working full time.

I mean with maybe a better money manager they might be able to hide some of it, offshore or ??? but it ain't all a bed of roses tax free when you hit old age.......

 

[jumpingjackflash]

I agree the RRSP's are only delaying the inevitable tax hit. It's even worse for workers that get a decent pension when they retire. The money they withdraw from RRSP if not careful can elevate them into a higher tax bracket.

It's even sadder when you think with all the taxes we pay we still have a bogged down medical system that has people suffering on waiting lists for tests and procedures that need to be done.

 

[Bubba]

^^^^ know anyone who is retired?

I do and since many rrsp's have a mandatory withdrawal, the one's I know are paying the same tax as when they were working full time.

I mean with maybe a better money manager they might be able to hide some of it, offshore or ??? but it ain't all a bed of roses tax free when you hit old age.......

I agree on your points but the whole idea to buy RRSP's is to make sure your coming income is lower once you hit that dreaded age. Investing and buying in Sun life insurance stock options is another choice as it's tax free. Way too long to explain.

 

[tboy]

I agree the RRSP's are only delaying the inevitable tax hit. It's even worse for workers that get a decent pension when they retire. The money they withdraw from RRSP if not careful can elevate them into a higher tax bracket.

It's even sadder when you think with all the taxes we pay we still have a bogged down medical system that has people suffering on waiting lists for tests and procedures that need to be done .[/QUOTE]

that's another discussion all together but from what I have read, the major problems facing our medical system now are:
1) People clogging up the system with simple illnesses (such as colds, flu etc) which only require medical attention if severe, they hit the young, or the elderly.
2) Each province negotiates with the various suppliers and drug companies independantly. If they all banded together and said "listen pfizer, we want an 80% discount or else".....that's quite some buying power.

Just an aside: some hospitals with deficites have been found to have lobbyists in their employ. I heard on the news that some politico or another called the heads to his office and said: if you're so broke, why are you paying these high priced people when you should be spending that money on medical care?

 

[Fullthrottle]

I love this

I love this

 

[Bubba]

I agree the RRSP's are only delaying the inevitable tax hit. It's even worse for workers that get a decent pension when they retire. The money they withdraw from RRSP if not careful can elevate them into a higher tax bracket.

It's even sadder when you think with all the taxes we pay we still have a bogged down medical system that has people suffering on waiting lists for tests and procedures that need to be done .[/QUOTE]

that's another discussion all together but from what I have read, the major problems facing our medical system now are:
1) People clogging up the system with simple illnesses (such as colds, flu etc) which only require medical attention if severe, they hit the young, or the elderly.
2) Each province negotiates with the various suppliers and drug companies independantly. If they all banded together and said "listen pfizer, we want an 80% discount or else".....that's quite some buying power.

Just an aside: some hospitals with deficites have been found to have lobbyists in their employ. I heard on the news that some politico or another called the heads to his office and said: if you're so broke, why are you paying these high priced people when you should be spending that money on medical care?

Bro don't get me going on these subjects. I've got family members and in-laws that work as a social worker, another into the pharmaceutical business, another is a scum insurance/broker agent and another one is a nurse. Our Christmas discussion time covered all these points. Man i am getting a headache just reminiscing about it. Till tomorrow, going into the in call section to relax LOL.