I agree. I actually simulated some options like that, where I'm saying, look, if we're going to have a guarantee, why have a 50% effective tax rate on the first $6,000 or more, which, with the provincial top-up, claws back a large part of what the private sector is doing with workplace pensions, and then have a zero effective marginal tax rate? Then the income tax kicks in and then the clawback kicks in. It's a dog's breakfast.
On June 1st, 2012. See this statement in context.