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The Canadian Personal Finanacial System is broken

Thank you, Cochrane Eagle, for the January 16 editorial that speaks the truth.

L. Leugner gaslights by espousing personal responsibility and ranting about socialism, but the Canadian financial system ensures that the poor and singles are the only citizens who are forced to be personally responsible since they are more likely to be the only ones paying their full share of income taxes.

Single persons including millennials not yet married aged 18 to 34, singles never married age 35 to 65 and early in life divorced persons, with 2019 $50,000 Alberta gross income ($25/hr. and 2,000 worked hours) and $11,000 tax, CPP and EI deductions results in net incomes of $39,000 ($19.50/hr.) and inability to save for retirement. At any given time approximately 30 per cent of the population is financially subsidizing the wealthy and the married.

Both Liberals and Conservatives have their own brand of selective socialism for the wealthy and the married. Trudeau gaslights by saying poverty will be partially eliminated with extra $130 spending power per year but same benefit is given to the wealthy with incomes up to $150,000. Tax free CCBs are given to the wealthy with net incomes up to $188,000. Conservatives do their own gaslighting by creating TFSAs and then allowing wealthy persons to use income-tested programs intended for the poor since TFSAs are not declared as income. They continue to cut public sector jobs and cut taxes for corporations who then use it for stock buybacks since no limits are attached.

All single employees with less than $50,000 incomes are financially disadvantaged. Public sector employees are demonized. Since single entrepreneurs with no spouses and no children are basically financially responsible to themselves, ‘Income sprinkling’, etc. is of no benefit to these entrepreneurs so they will pay more taxes. Since Leugner seems to have all the answers maybe he could answer the question regarding which businesses are more likely to fail - singles or married.

The Canadian financial system for personal finances is broken. The financial imbalance between the rich and the poor, singles and married only leads to populist anger, male millennial suicides and despair. Failure of the wealthy to pay their fair share of taxes and avoiding taxes through many different avenues can only result in financial bankruptcy of the country.

- Lin Gackle

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