not only did you and I contribute to CPP but your
employer did, too. It totalled 15% of your income before
taxes. If you averaged only $30K over your working life,
that's close to $220,500. Read that again. Did you see
where the Government paid in one single penny?
We are talking about
the money you and your employer put in a Government bank to insure you
and I that we would have a retirement cheque from the money we put in,
not the Government. Now they are calling the money we put in an
entitlement when we reach the age to take it back. If you calculate the
future invested value of $4,500 per year (yours & your employer's
contribution) at a simple 5% interest (less than what the govt. pays on
the money that it borrows), after 49 years of working you'd have
If you took out only 3% per year, you'd receive $26,787.60 per year and
it would last better than 30 years (until you're 95 if you retire at age
65) and that's with no interest paid on that final amount on deposit! If
you bought an annuity and it paid 4% per year, you'd have a lifetime
income of $2,976.40 per month.
THE FOLKS IN OTTAWA HAVE PULLED OFF A BIGGER
PONZI SCHEME THAN BERNIE MADOFF EVER DID.
Entitlement my foot, I paid cash
for my CPP! Just because they borrowed the money for other
government spending, doesn't make my benefits some kind of
charity or handout!!
They call CPP an
entitlement even though most of us have been paying for it all
our working lives, and now, when it's time for us to collect,
the government is running out of money. Why did the government
borrow from it in the first place? It was supposed to be in a
locked box, not part of the general fund.
Sad isn't it? 99% of people won't have the guts to forward this.
I'm in the 1% and I just did.
PS. Do you ever
hear them talk about running out of welfare money ? Strange !
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