...but it grows unavoidably and becomes very large over time.
So says the author of a study on the effects of TFSAs (tax-free savings accounts), Rhys Kessselman, a School of Public Policy professor at Simon Fraser University. As the money accruing in those accounts grows, the revenue losses to both federal and provincial coffers grow commensurately over time. You will find other facts of interest here as well:
I think the Royal Bank board should start coating their members in Royal Bank blue lipstick, just so us ignorant Canadians have a visual cue about Amanda's political bias.
ReplyDeleteA good one, Anon. Perhaps it will come up at the next shareholders' meeting?
DeleteOn the surface, there is not much difference between TFSAs and their other partner the RRSP. However, ethically speaking, the government that enacted the RRSP did so by taking the pain, at the expense of leaving the future government with the taxes. Forego taxes now, but when you use the money you have to pay.
ReplyDeleteCompare that to todays ethically challenged group. Put in a policy of after tax largesse. You still get your budget (and couldn't balance that) while hobbling your successors with the results of the grant that keeps on giving and giving (tax free).
Just one more form of starve the beast.
Re-election and 'starving the beast' seem to be the main motivations behind this utterly irresponsible budget, Anon.
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