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LETTER: Canada has its own dividend equivalent

Dear editor, Critical analysis shows the majority of democratic capitalist countries have multiple tax-free and avoidance financial schemes that benefit the wealthy, married, and families. As a result, singles and the impoverished almost always lose financially.
Airdrie letters_text

Dear editor,

In his Jan. 19 letter, Alan Spiller lamented the oil dividend cheques that Alaska (a state) receives, as well as the savings of Norway (a country).

Canada (also a country) has its own “dividend” equivalent – they’re called TFSAs. The only difference between these financial vehicles is that TFSA recipients must be disciplined enough to save and then determine how many tax-free dollars can be generated from their TFSAs.

The total potential for tax-free TFSA dollars is a lot more than any Alaskan dividend cheque potential. Since tax-free dollars generated from TFSAs are not considered to be income or assets, recipents can even declare bankruptcy and manipulate the system to get benefits intended for the impoverished.

Other “dividend” equivalents include CCB, childcare, and pension-splitting for senior couples, etc. that are indexed to inflation and are based on tax-free or tax avoidance schemes with income cut-off being a generous $180,000.

Critical analysis shows the majority of democratic capitalist countries have multiple tax-free and avoidance financial schemes that benefit the wealthy, married, and families. As a result, singles and the impoverished almost always lose financially.

Who is cheating whom?

Lin Gackle

Sunset Ridge

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