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The federal budget admits millennials and Gen Z are being left behind. Now it’s time to fix the system
(www.theglobeandmail.com)
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this post was submitted on 22 Apr 2024
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The most insane part to me is that the minimum threshold to start cutting back OAS is $80,000 when it's only $35,000 for the CCB. This should be flipped, a fundamental requirement of the CCB is that you have a whole extra person (or more) to take care of. How does it make any sense that a senior needs more than double to live on than a whole family?
What are OAS and CCB? Child care benefit tax is my guess for CCB
Child care benefit and Old age security. They're both benefits paid out periodically throughout the year.
(They were also both in the article)
Considering the median individual income in Canada is close to $45k, that’s a good point. Maybe there’s an argument that seniors have additional living expenses with healthcare or living in an assisted living or full-time care facility, but I feel like it should then be a lower OAS clawback with supports available for those with particularly high expenses.
Or we could subsidize the health care and the assisted living, etc. facilities directly. I wonder if anyone's actually done a study on which is more expensive. (Of course, any attempt to do this would probably make certain whiny premiers raise even more jurisdictional issues.)