On Tuesday, 12 August 2014 12:30:11 UTC-3, wrote:
On Tue, 12 Aug 2014 08:12:35 -0700 (PDT), True North

wrote:



On Tuesday, 12 August 2014 11:33:16 UTC-3, wrote:

On Tue, 12 Aug 2014 07:59:23 -0500, amdx wrote:











Just a note:



Many accountants think that tax rates will be higher in the future



because of the huge debt we have. Because of this they are suggesting



Roth IRAs instead of the traditional tax deductible IRA.



Mikek







That assumes the government would not change the tax code on a Roth. I



am old enough to remember when they said Social Security would never



be taxed ... because you already paid taxes on that money ... just



like a Roth.



When it comes to the government ****ing you, just plan on it.



Wow!

We pay both federal and provincial income tax on anything over our basic exemption, which is around 11k and another $2K if on pension plus I get another $7K because I turn 65 this month.

After that everything is taxed at the rate of the income category you fall in... and yes that's all pensions, interest received on investments, monies taken out of RRSPs etc.



Y'all have been spoiled down there and the chickens are coming home to roost.



It sounds like you guys have as many debt problems as we do



http://www.fraserinstitute.org/resea...ent-Debt-2014/

Don't know how much I'd trust that 'right wing think tank'.. but yes, our federal and provincial governments have been spending like drunken sailors, and not properly addressing liabilities in public servant pensions.