doylio, 1 month ago It’s not the simple unfortunately, because of 2 factors: Our boomers are a very large generation, larger than the millenials Life expectancy has increased so people live much longer (with high medical costs) In the 70s - 2000s we had a large generation of in their working years paying for a small generation’s 5-10 year retirement Now, we have a small generation in their working years paying for a large generation 15-25 year retirement And this is not something we can solve by just “taxing the rich”. The numbers are so huge that taxing Canada’s richest people is a drop in the bucket
It’s not the simple unfortunately, because of 2 factors:
In the 70s - 2000s we had a large generation of in their working years paying for a small generation’s 5-10 year retirement
Now, we have a small generation in their working years paying for a large generation 15-25 year retirement
And this is not something we can solve by just “taxing the rich”. The numbers are so huge that taxing Canada’s richest people is a drop in the bucket