The Canadian government is raising taxes to help pay for CPP.
They don’t call it a tax, but it is. Anytime a government takes money away from you it’s a tax. They can call it an investment but here is what is really going on. The “Me” generation blew all their money, don’t have enough to retire on and are now expecting their kids and grandkids to help foot the bill. This cartoon sums it up pretty nicely.
In the CBC article Neil MacDonald mentions the code of real estate in places like Toronto and Vancouver. I don’t know too many young people who can afford to live in the city. If you look at the entire system it is corrupt, or at least rotten.
The banks give out cheap loans to people to encourage them to invest in real estate, (2.45% interest is a cheap loan)
So the government is going to take a little more money from works, a little more money from employers and give it to whom? Those who don’t do anything. You can argue they’ve already paid their share into the system! Then they shouldn’t need to take money from the working young.