CPP Increases Will Erode Personal Wealth

From CFIB:

Trouble for small business The employer portion would also increase by about $1,100/year per employee. That means a company with 15 employees would be paying an additional $16,500 per year. The self-employed, who pay the entire premium themselves, would be paying an additional $2,200/year.

This is insane. The cost of these 'social benefits' already has a big impact on my bottom line

Trouble for families A typical family of four is missing out on an extra $3,110 a year (where both parents are working) to put towards their own retirement. Why? Because public sector employees are currently compensated between 25 to 42 per cent above their private sector counterparts, making it a two-tiered system.

When will people learn the best way to prosperity and freedom in terms of financial security is to have more money in their own pocket to manage? $3100! Flushed away. Give me the $3100 I guarantee I can invest it more appropriately according to MY NEEDS.

Worse, $3100 away from you and towards the public sector. A subsidy for someone else if you prefer.

Trouble for the economy Higher labour costs, with no increase in productivity, would lead to job losses or reduced hours for many workers over the first 10 years of a CPP increase, and wages would go down by 1.5%. Many Canadians would go without work for years. Some might escape unscathed, but everyone would be at risk. 

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