What we have done for far too long is simply not working. Even with all the social supports in place, the resulting income is often only enough to maintain a family in poverty. At their worst, existing policies and programs actually entrap people in poverty. This is why we need a new way. A basic income would work as a tax credit administered through the taxation system similar to the Guaranteed Income Supplement for seniors. If someone earns less or has less than the poverty line, they would simply be topped up to a point above the poverty line.
There are a ton of regulations involved in reverse mortgages, but they are still becoming more and more popular because frankly they can be beneficial. Like any mortgage or loan it is all situational. For some people a reverse mortgage is a great idea and maybe even their best option, but for others it is just a way to incur more debt.
Before we blindly adopt the Australian pension system as our own, we need to take several long moments in deep thought and contemplation -- and look at the evidence. Yes, you are able to invest as you wish. In fact, you are responsible for investing your dollars to achieve the highest rate of return available. Is this something for which you feel capable?
Budgeting isn't a dirty word, yet for many people the process of creating and living on a budget is seen as confusing, restrictive and scary. Creating a budget is actually a very straightforward process. Budgets aren't difficult but they require organization and discipline in order to be successful.
On the surface it seems like a fabulous idea: Carve out a portion of your home, rent it out and use the rental income to pay your mortgage. You get to live basically "rent free" while at the same time reaping the tax benefits of writing off some of the costs associated with accommodating a rental apartment in your home.
With a federal election on the horizon, certain high level policy topics are bound to make the headlines beyond the personalities of the political leaders: the economy, energy prices, jobs prospects even climate change. But what seems surprisingly absent from the political hustings so far has been a fulsome discussion of the health of everyday Canadians.
I lived in poverty growing up. I dealt with social issues no child should ever have to deal with: bullying, low self-esteem and self-confidence, and their impact of my grades. My father unexpectedly passed away when I was 12 years old, and as a result, my mother worked two jobs to support my sister and me.
If the government is serious about tackling Ontario's youth unemployment and fostering job creation, then it should steer clear of future minimum wage increases regardless of what formula the advisory panel recommends. The reality is that increasing the minimum wage will actually reduce job opportunities and not alleviate poverty.
The authors of a report by the Canadian Foundation of Labour Rights warn that the enactment of right-to-work legislation will weaken unions and effectively toss Canadian workers under the jackboot of the corporate elite. But the fact of the matter is not as clear-cut as the CFLR and its sources of information let on.
We often hear that in Canada, "the rich are becoming richer while the poor are getting poorer." Fortunately, studies focusing on economic mobility in Canada tell a totally different and more accurate story. By looking at these data, it becomes clear that it is the poorest 20 per cent who enjoy the highest upward economic mobility.