Mr. Speaker, yesterday in the debate over Canada's biggest tax grab, Bill C-2, the parliamentary secretary to the minister stated that if a young person contributed $1 to the CPP fund they could expect a whopping return of $1.80 after only 30 years of uncertainty. Wow.
If the young person had a buck to invest which, first of all, is unlikely because they are already dead broke from Liberal taxes, but if they did happen to find a rusty old loonie on the street they would have to consider where to invest it. Would they rather mail that loonie off to Ottawa to a plan that is already $500 billion in debt in the faint hope of $1.80 return if they are really, really lucky or would they invest it themselves?
Even at 5% return on that investment that loonie would turn into at least $4 in 30 years. That would be in a safe or secure bank or credit union where they could visit their investment any time they wanted to.
One does not have to be a brain surgeon to figure out which is a better bet.