I’ll leave it to you to make an informed decision on wearing a helmet. You know how I’ll vote.
Mike Sowers, Lahaina
- Make an informed decision regarding helmet use, The Maui News, October 3, 2011.
2. In his Feb. 8 From The Hill column Larry Miller wrote that the Old Age Security is not sustainable in its present form. The reasons he gave were that the OAS was funded from general government revenues and that by 2030 there will be only two working-age Canadians for every senior. This meant that there would not be enough revenue to cover the benefits.
While the general facts may be true, I believe that Mr. Miller is not giving us enough information to make an informed decision.
On Feb. 8 the Parliamentary budget officer, Kevin Page, released a report which stated the OAS system is fully sustainable in its current form and in fact stated that it could be improved.
The reason for this is that even though the costs will increase by 2030 (to $108 billion) the size of the economy and resulting government revenues will also increase dramatically.
The current government likes to use simple numbers ($36 billion in 2010 to $108 billion in 2030) as its justification to reduce benefits. These numbers are large and scary.
The PBO uses a percentage of the gross domestic product or “size of the economy.” By his calculations the current and future cost of OAS will remain between 2.2% and 3.2 % of the GDP, or a 1% increase over 20 years.
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