5.14 Taxing: the end of RRSPs

It's a hot mess. You need a professional just to steer through it. And it's enemy #1: big, bad taxes.
When they should be our shared resource, rooted in our values and reliably reflecting our care for one another.
How do we get from here to there?
More easily than you might think!
I dig into the what and why of our current income tax and retirement financing systems, not just the intention but the impact of what we've got now- and emerge ready to throw out RRSPs, TFSAs and so many other tax-based motivational systems, and make room for simpler, more direct solutions.

Namely' Universal Basic Income. If we all got enough every month to cover our essential needs, how would that change retirement in Canada? It would save it! And it would save us. It would save us 10% of what we currently spend on taxes (the cost of poverty-measures we now spend tax dollars is 13% of our tax spending, the cost of basic or guaranteed basic income making those measures unnecessary is only 3% of our current tax spending!)

Referencing:

The case for Universal Basic Income in Canada: https://www.ubiworks.ca/guaranteed-livable-basic-income

History of Income Tax in Canada: https://thecanadianencyclopedia.ca/en/article/income-tax

History of Pension plans in Canada: https://nupge.ca/wp-content/uploads/2024/12/2024-10-29-Module-2-final.pdf

History of our CPP: https://documents1.worldbank.org/curated/en/780721510639698502/pdf/121375-The-Evolution-of-the-Canadian-Pension-Model-All-Pages-Final-Low-Res-9-10-2018.pdf

History of RRSP https://www150.statcan.gc.ca/n1/en/pub/75-001-x/1990004/article/121-eng.pdf?st=_LtpmXP5

When TFSAs were launched: https://www.canada.ca/en/news/archive/2010/05/harper-government-highlights-tax-free-savings-account-success-canadians.html