George Dyer

2015-10-23 16:21:05 -0400

I usually try to avoid that four letter ‘F’ word but here goes; It’s not fair, it’s just not fair.



Scrapping this ponzi scheme was going to be the one little silver lining within the cloud of the Liberal’s election victory. This won’t affect me now, but I hope that my fellow Ontarians who are heading towards retirement realize that to make their initial contribution to this scam they will first be required to earn a dollar, which will immediately get taxed, say, 25 cents. So now they can expect that remaining 75 cents to be “returned” to them upon retirement.



But wait a minute if, like me, you are otherwise a low income senior then you will also be receiving the Guaranteed Income Supplement, but (broadly speaking) the Supplement gets clawed back by 50 cents for every dollar of additional income above OAS and CPP pensions so now our original dollar will be down to anything between 25 and 50 cents.



What’s more, if this ORPP also happens to bring your total pension into the range of being taxable . . . where are we now? I’ve lost track, but I think I’m reasonably showing that contributors will be pretty close to being in the hole, and that’s without even getting into the effect of an employer’s contribution.



Of course everyone’s situation is different, so in generalizing I’ve had to play a bit fast and loose with the arithmetic but I’m sure, dear readers, you all get my drift.



I mentioned earlier that this won’t affect me now, but I currently experience something similar. As an immigrant to Canada I don’t receive a full OAS pension (that’s not a complaint, just a matter of fact) but I do receive a modest UK pension as a result of working there earlier in my life. This little additional pension affects my Canadian GIS in exactly the way that I’m suggesting the ORRP would.



RRSP’s can have a similar effect on pension incomes, which is why the great alternative to this rip-off was the Conservative’s Tax Free Savings Account. Those Liberal critics who said that TFSA’s benefit only the wealthy and that us poor folks would be better off with RRSP’s have it back-asswords. They are either liars, or they are ignorant, or they are stupid.



Did the brain-dead Liberal zombies think that Prime Minister Harper was just opening his mouth and letting his stomach rumble when he told us that he was dead set against this and that it was dumber than dirt?



So come on Kathleen, for once in your miserable, lying, cheating, thieving, pathetic life, keep at least one promise.

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