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Response to TrueDemVA (Reply #1)

Mon Mar 28, 2016, 11:22 AM

6. So double taxation for the same benefits.

Taxed once through SS and then through income taxes to repay it. This is the problem with any financial tool the government can get their fingers on. They'll rip it off and say trust us, we'll pay it back.

In Canada, in 1997 the Chretien Liberal government changed the laws governing the Canada Pension Plan (our equivalent to SS) and put contributions into an indepentent investment board. At the time, the CPP had a total of $30 Billion in government bonds and that was it. It has now grown to $283 Billion of diversified assets from around the world and had a 7.5% annualized rate of return over the past 10 years. Because the government can't get its hands on it, the Chief Actuary of Canada has said the plan is on solid footing for the next 75 years.

http://cppib.com/en/home.html

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eniwetok Mar 2016 OP
TrueDemVA Mar 2016 #1
eniwetok Mar 2016 #4
LineLineReply So double taxation for the same benefits.
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