- Armine Yalnizyan counters the Cons' spin on tax-free savings accounts. And Rob Carrick points out that raising the limit on TFSAs would forfeit billions of desperately-needed dollars to benefit only the wealthiest few in Canada:
TFSAs are Swiss army knives – a financial knife, corkscrew, screwdriver and more. But doubling the annual contribution limit of $5,500 is a bad idea.- Thomas Walkom offers some suggestions to save Canadian capitalism from its own most destructive impulses. And Don Lenihan discusses another set of big ideas worth considering, while recognizing that none of them will come to pass without a more effective political process.
Message to the federal government: Please don’t, because we can’t afford it.
A report from the Parliamentary Budget Officer this week says the federal government would lose $14.7-billion a year in revenue by 2060 and the provinces would lose $7.6-billion a year. That’s a tremendous amount of money to forgo in a country with a population aging as quickly as ours.
The latest population estimates from Statistics Canada suggest that seniors will account for 25.5 per cent of the population by 2061, up from 14.4 per cent in 2011. You can imagine what this trend will mean for government spending on health care and income programs such as Old Age Security and the Guaranteed Income Supplement.
In fact, Ottawa was so concerned about the sustainability of OAS – it’s funded from general government revenue – that it announced that it would gradually increase the age of eligibility to 67 from 65 starting in 2023. Ottawa saved a whack of money doing that. Now, it’s looking at depleting the savings it realized with a higher TFSA contribution limit.
- Elizabeth Douglass writes that between plunging prices and increasing recognition of safety and climate risks, 2015 is off to a rather rough start for the oil industry. And that's before doctors start highlighting pollution and climate change as serious health issues - which Kyle Plantz reports to be a foreseeable and desirable possibility.
- Meanwhile, Bruce Johnstone reminds us that farmers are still suffering from the Cons' choice to prioritize the use of rail to transport oil.
- Aarian Marshall discusses what the Cons' census vandalism has cost Canada:
Though Peterborough’s situation is particularly difficult, it’s not an anomaly. In 2006, 93.5 percent of Canadians responded to the then-mandatory long-form census. In 2011, 68.6 percent returned the NHS. This is despite the fact that census officials distributed more surveys to compensate for the predicted drop in response rates—to one in three Canadians in 2011 instead of the one in five in 2006. Still, Statistics Canada withheld 2011 NHS data for 1,128 of 4,567 Canadian census subdivisions. “[A]pproximately 25 percent of geographic areas do not have reliable National Household Survey data available for their use,” Canada’s auditor general wrote in a 2014 report.- Finally, PressProgress points out that the Harper Cons and their mouthpieces seem to be the only people alive - whether in Canada or elsewhere - who don't think the tragic and ongoing history of missing and murdered aboriginal women in Canada merits a public inquiry. And Stephen Maher highlights the complete disconnect between the Cons and Canada's First Nations who rightly expect far better.
“Because of the move to the voluntary NHS, Canada is a richer, whiter, more educated country now,” says Ryan Berlin, a Vancouver-based economist and demographer with the non-profit Urban Futures Institute. Berlin is making a joke here, one that’s been making the rounds in Canadian academic conferences for the past few years. But he’s not wrong. Certain populations—low-income residents, immigrants, the disabled, aboriginal peoples, and those without a firm grasp of the English language—were far less likely to return the voluntary census. These are also often the communities most in need of social programs. The question marks are particularly disconcerting in the wake of the worldwide recession. Where are the needy? Canada isn’t entirely sure.
While statisticians with the Canadian government do have sophisticated mathematical tools to help estimate how many underserved citizens they missed, the 2011 still survey left glaring uncertainties. In one example, the NHS found that Filipinos were the most represented group among immigrants who entered Canada between 2006 and 2011. But a footnote in the Statistics Canada release notes that this result is “not in line with administrative data from the Department of Citizenship and Immigration Canada which provides the number of recent immigrants by their country of birth settling in Canada each year.” Why the gap? It could be sampling errors, it could be response patterns, or it could be an “under or over estimation of certain groups of recent immigrants in the NHS.” Officials say they just can't be certain why they don’t know what they don’t know.
Academics also stress that census data is often used as a benchmark, to check whether other data sets derived from alternative sources are correct. Now there appears to be no universally-acknowledged set of numbers against which to check one’s own work.