gnatwest

What kind of stuff do you do? How good is the matching process?

Ive been thinking of becoming a Big Brother, but I dont know what I would do with a little.

People need to realize that the parties purposely do not state what the Middle or Lower classes are. That way they can say they are helping these people without any context.

Example 1 - Income splitting

helps the lower class

Joe is a labourer earns 60k per year his wife works part time and earns 15k per year

Total income 75k per year. Income splitting helps this family by allowing Joe to defer some of his tax liability to his wife so they can both be in the lower tax bracket. ~10k can be taxed in a lower bracket - Yay tax cut for the poor on 13 % of household income

For the rich.

Steve is a banker who earns 500k per year his wife is a socialite that doesnt work. He spits his income with his wife and ~125k is now taxed at a lower rate. The rich family reduces taxes on 25% of their earnings.

Example 2 TFSA Joe the labourer can afford to save $1000 per year into his TFSA. He is happy with not paying taxes on returns on an indexed fund ~8% return. Taxes saved on ~80 per year

Steve is able to max his TFSA each year and affort to gamble on IPOs he earns a %300 return Taxes saved on ~ 15000 per year

In my view all Canadians would be better served by lowering the tax rate on the bottom tax bracket, and creating a new tax bracket for the "1%" which would adequately compensate. the "1%" would get an increase in taxes the remaining Canadians would get a tax cut.

Join the RCMP

So hypothetically there are 3 other votes in this poll. 2 are for Party A and 1 for Party B. SceneMaker votes Party B. 4 Votes total how do you -1 that?

Im not saying that classes cannot be defined. I mean that in sound bites they are not. For example I do not recall any reporting on how any party defines the middle or lower class. However I have read about arguments as to what constitutes the middle class.

This goes for both federal and provincial politics. I am not slamming on any of the parties specifically I think it is a global problem.

I know there was a promise for a raise on taxes for people earning over $200K. Personally I think this is a step in the right direction.

As to straight tax cuts being less effective, I dont know that I agree. For those making 44 700 or less a minimum of 15% is taken off the top. I think anyone in that tax bracket would want their 15% back.

http://www.macleans.ca/economy/money-economy/are-you-in-the-middle-class/

According to MacLeans almost 80% of Canadians fall into the lowest tax bracket. It stands to reason that a reduction in taxes here and an increase at greater than 200k would be beneficial to all but the richest Canadians.

I am definately concerned with the shrinking Middle class as noted here http://www.moneysense.ca/columns/are-you-in-the-middle-class/

/u/CanPoliEnthusiast I appreciate your reply and look forward to the next.