Quote:
Originally Posted by Build.It
1. I was using "social security" as blanket term for combined retirement, and was referring to both Canada and the US.
2. Pension/OAS needs to be capped at $50K per year (or some number in that range) - if you're retired and your taxable income the previous year was less than $50K, then you get a top up. If your income was more, then you're on your own.
3. Qualifying age needs to be increased to 70.
4. I also don't see why OAS/Pension can't be privatized - ie have private funds invest and distribute the funds, just like they do for rich people. (this might already be the case, but I'm not sure)
5. It is critically important that kids learn personal finance in school, every year from grade 4 until graduation - a mandatory subject. They need to learn how to manage their money so that they don't need to rely on the government when they become adults. Wealth creation is a skill that can be taught to anyone. (Some still will, but we need reduce that as much as possible)
6. The federal government's responsibility should be limited to protecting the border and conducting international relations. Everything else (including all social programs) can be downloaded to the provinces.
Basically, where I'm headed with this is that the system needs to be built so that anyone with an IQ over 80 can take care of themselves once they turn 18, versus what we have now (where numerous people with 120+ IQs, and degrees rely on social assistance to get by).
A nation of independently wealthy citizens won't need as many social programs (since they'd be able to pay for it themselves), and that is how you get taxes down.
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I can see a lot of surface logic to your program when you lay it out like this but you need to think deeper.
Pensions and caps and privatization will leave some people (and I accept mostly irresponsible people) in real trouble. Old people used to have to eat catfood and without large families even more old people would be in dire straits now.
I think it's hard for conservatives to accept just how hopeless a lot of people are. An IQ of 80 makes life extremely difficult. They are nearly unemployable. Here's commentary from someone you probably trust:
https://www.youtube.com/watch?v=HPmaAE3jq6I
Same with habits such as personal finance and general conscientiousness which while not as inherited as IQ certainly are related to upbringing but regardless blaming them doens't solve the problem that 1/3 to 1/2 of people will save nothing for retirement, nothing for their kids education etc.
Downloading to the provinces sounds great but doesn't really solve the budget problem except the provinces borrow at higher rates. And many things would be difficult for example does PEI now needs a Air Accident investigation unit? I guess you would get rid of equalization which makes Quebec separate and the Maritimes destitute. Sure Alberta can enjoy lower income tax rates and no sales tax with similar services but Canada will be finished.
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