Mr. Speaker, for seniors who have just downsized and want to invest the proceeds of their sale, or seniors who have had one spouse pass away with a small inheritance following, the tax-free savings accounts allow them to save. That is why almost two-thirds of those who max out their tax-free savings accounts have incomes below $60,000. However, the Liberal plan has a $2 billion hole and that means they will not only have to eliminate income splitting for families, but they will also eliminate it for seniors.
Raising taxes on vulnerable seniors is the last thing we should be doing. We should lower their taxes.