Tuesday, March 20, 2007

The Budget - Boomer Impact

Here's my brief reaction to the Canadian Federal Government budget.

The baby-boomer generation is going to have social and political impact for a long time to come (20 more years?). I think we are starting to see some of that grey power in this budget with the benefits to seniors.

In the future, I expect the boomers will use their political might to protect CPP and OAS income as much as possible. I'm not counting on it being successful, but they will try.

In addition, any boomer-politicians who are relatively close to retirement will be inclined to "feather their own bed".

The pension splitting might be useful but I will have to try it out in Quick Tax next year and see if it is a better option. Right now my wife is a dependent which helps a lot at tax time.

My taxes are so low now, compared to when I was working, anything more is ...just gravy. But - gravy has always been one of my favourites and even $200 bucks goes a long way at Tim Horton's!

In a future post I will tell you how to save a couple bucks the next time you and a friend go to Tim Horton's'.

No comments: