Food for thought.

[JBen]

Given the other two threads, I thought this was worth posting, but also deserving it's own.

It's in today's FP
It's a "Fraser" study

1) I'd ask,don't shoot the messenger (s)
2) consider many things, be it the state of this or that,
3) some facts in it, are indisputable, nor open to interpretation. They are what they are.

I would note, isn't it "interesting" that while Ms Wynne entirely agrees the peons are in trouble, and that most of them (unlike her friends and her employees) the vast majority don't have pensions.

She doesn't admit or can't see that one of the reasons the big reasons the peons are in trouble and can't save is because.

She and her friends keeps robbing them, more and more, raising taxes to pay for A, B and C. And costing them, more and more, be it Hydro and the GEA, or fees for this or that or XYZ.

And we all know govt PPs are Ponzi schemes, we know the middle class is bearing the brunt. Gee Ms Wynne would you explain for me please how if you take another 2% from me, and I die before I can finally retire to....how you've helped me or my family?

And what makes you think, you are better able to manage my affairs?

Maybe I'd rather use that money to pay off some of my mortgage? Or park it in an RESP, or a TFSA, or RRSP or spend it, maybe fixing the roof of my house. Maybe I'd rather use my money, and not have to use my credit line (see household debt levels).

Ontario government officials, who intend to roll out a new mandatory provincial plan in 2017, say the Ontario Retirement Pension Plan is necessary, in part, because personal savings rates have dropped to 3.2 per cent from more than 22 per cent in 1982.

I wonder why that may be????

http://www.financialpost.com/m/wp/ne...ate=2015-07-21

[terrym]

Liberals managing a multi billion dollar retirement portfolio. What could go wrong?

[werner.reiche]

Re: Personal savings decrease when public pension plans increase.

The explanation for that is a no-brainer. When you knock 2K off someones income, they are likely going to save less - you don't even need a calculator for that one. If you want people to save more, they need to have the money to be able to make that decision.

Re: Wynn seeing the peons are in trouble...she likely doesn't see it - and if she does, she doesn't care. People are going to see nothing from the ORPP or whatever is called. That money is not being invested for your future - its being spent on her infrastructure promises to Toronto. Its gone, like spent tax dollars, and only an idiot would believe it will provide something for their future.

[werner.reiche]

Liberals managing a multi billion dollar retirement portfolio. What could go wrong?

There isn't going to be a portfolio to manage. This money is going to be "invested" - and I'll use the term in its broadest sense here, in Ontario infrastructure projects. The purpose of this is not to provide for Ontario retirees, but to put a more palatable label on a huge tax grab.

[JBen]

Werner, I might go so far as to say.

/puts on dancing shoes to tread carefully.
Many on the left.....more than just Ms Wynne. don't "see it" or "get it"

[terrym]

She has already said that the funds will be used to invest in infrastructure. Code for this is just another tax that will be used to balance the books and give bigger raises than the economy can handle. Jben lists out the realities of taking that much more out of taxpayers limited buying power. Consumption drops as does the economy. Problem is unionized PS never contracts with dropping tax revenue only debt rises. This government has proven to be pathetic money managers and liars. Now they are stealing billions more to hire freinds and children of Liberal connected supporters and give themselves raises. The government needs to freeze all wages for at least 5 yrs and do away with defined benefit pension plans for every new hire. Never gonna happen.

[seabast]

Liberals managing a multi billion dollar retirement portfolio. What could go wrong?

Teachers seems to manage it pretty well.......

[werner.reiche]

Teachers seems to manage it pretty well.......

That's run by a private enterprise OTTPB.

[JBen]

Yep.
and I always laugh about OTPP and when socialist bring up corporate greed, CEO salaries and evil capitialist laying people off, or scaling back salaries. and for the record OTPP owns one very big chunk of my private company (aka not public, aka not listed on an exchange).


who do you think has a big say about our profits, salaries and overhead


but that's a different topic, lets stay on

The future and the futures of the majority, the "working stiffs"

[seabast]

That's run by a private enterprise OTTPB.

So, no Liberal influence?