Who knew that Canada’s problems are the result of not paying people enough not to work?
At the heart of the issue, he said, is Canada’s eroded social safety net, particularly employment insurance (EI), which, along with other social programs, isn’t keeping up with today’s economy.
EI benefits have mostly stayed the same in value and replace roughly 55 per cent of a person’s wages. The benefits are higher than in the United States, but they lag far behind European countries such as Denmark, where they replace 90 per cent of a person’s wages, the Netherlands (70 per cent) and Sweden (80 per cent).
The Canadian federal employee I know gets 90% for 37 weeks for paternity leave.
EI benefits have mostly stayed the same in value and replace roughly 55 per cent of a person’s wages. The benefits are higher than in the United States, but they lag far behind European countries such as Denmark, where they replace 90 per cent of a person’s wages, the Netherlands (70 per cent) and Sweden (80 per cent).
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Now, think about it. What do all these countries have in common? And, keep in mind that a significant factor as mentioned in the article is “defense costs.” Defense costs not just for Canada, but for the vast majority of the EU. Consider who has been ponying up the vast majority of these costs. And, consider which country mentioned has the lowest entitlement payouts as a result. Then, consider which countries have streamlined comfortably into a “socialist” apparatus as a focus for their finances over the years. Which countries had the misguided luxury of transforming into an expensive and questionably unsustainable “universal healthcare” status due to not having to invest heavily in their own defense.
Take a good close look at the current economic difficulties on the horizon for Sweden, Netherlands, and Canada due to being forced to face what has been taken for granted over the decades.
These truths have been left out of this article for some reason.
Get a job!
As I constantly say, repetetively all the time, that governments LIKE inflation, despite what they say. It reduces the size of their debt and payments, and increases tax income. What’s not to like?
Government is not your friend.
Allow me to explain a little more deeperly:
Government inflation figures may be oh, say 3%, and their social payments will be 3% increased. But their actual income through sales tax and income tax creep will match the real inflation rate. Bonus doubleplus! Even if their publicised inflation stat matches real inflation, they do not lose. In fact, the greater the inflation, the less value their debts have.
Government is not your friend.
Do they plan to increase the required amount of contributions to increase the % of income replaced? or can we just look forward to the Liberal government raiding the fund yet again?