Paying taxes

paying-taxes.pngWhen today’s seniors were working, the taxes they paid did not fully cover the cost of the services they want and use in retirement – leaving working age taxpayers to underwrite the wellbeing of older Canadians to a far greater extent today than in the past. You might think this is an intractable problem, because the solution would have required collecting sufficient taxes before seniors retired – but there’s another option. Shifting taxes towards wealth (and not just for the uber rich) could raise revenue from windfalls gains in housing wealth to cover growing costs of services for seniors, as well as other programs that benefit younger generations.

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