A plan to strengthen OAS, help younger Canadians and reduce the deficit? Thanks, affluent boomers! - The Globe and Mail
A plan to strengthen OAS, help younger Canadians and reduce the deficit? Thanks, affluent boomers! - The Globe and Mail
A motion from the Bloc will increase benefits for affluent retirees, to be paid for by younger (and poorer) Canadians. The advocacy group for Canadian seniors has proposed a much fairer alternative;
[Canadian Association of Retired Persons's proposal] would strengthen OAS, help younger Canadians, reduce the deficit and save Parliament. This would enable MPs to make the most significant improvement to generational fairness in the federal budget in my professional lifetime – rather than play political games by proroguing Parliament or launching an early election.
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In my previous column, I costed out some options. The government could start to claw back OAS at an individual income threshold of $70,000 or a household income of $90,000. These alternatives would free up $12-billion and $48-billion, respectively, over the next five years.