New report suggests Pierre Poilievre's TFSA statements are quite "misleading"
A new report suggests the Conservatives, and most notably Employment Minister Pierre Poilievre, have been "misleading" the public when it comes to claiming those who benefit from Tax Free Savings Accounts are overwhelmingly lower-income Canadians.
In fact, the report suggests the only low-income Canadians likely see any real benefit from TFSAs are spouses and children in high-earning households.
In April, two separate reports from the Parliamentary Budget Officer and the Broadbent Institute that found TFSAs disproportionately benefit wealthy Canadians and, in the long term, will eventually lead to more than $10 billion in lost revenue.
In response, jobs minister Poilievre pointed to data not released to the public and said "most of the people who have maxed out their tax-free savings accounts earn less than $60,000 dollars a year."
Well, now that data's been disclosed and it seems Poilievre is trying to pull a fast one.
According to the new Broadbent Institute report authored by Simon Fraser economics professor Rhys Kesselman (one of the original architects of TFSAs), Poilievre's repeated claims that "about 60 per cent" or "two-thirds" of those who maxed out their TFSA contribution earn less than $60,000 a year can be explained by asset shifting within wealthy households.
READ MORE: http://www.pressprogress.ca/new_report_suggests_pierre_poilievre_tfsa_statements_quite_misleading
In fact, the report suggests the only low-income Canadians likely see any real benefit from TFSAs are spouses and children in high-earning households.
In April, two separate reports from the Parliamentary Budget Officer and the Broadbent Institute that found TFSAs disproportionately benefit wealthy Canadians and, in the long term, will eventually lead to more than $10 billion in lost revenue.
In response, jobs minister Poilievre pointed to data not released to the public and said "most of the people who have maxed out their tax-free savings accounts earn less than $60,000 dollars a year."
Well, now that data's been disclosed and it seems Poilievre is trying to pull a fast one.
According to the new Broadbent Institute report authored by Simon Fraser economics professor Rhys Kesselman (one of the original architects of TFSAs), Poilievre's repeated claims that "about 60 per cent" or "two-thirds" of those who maxed out their TFSA contribution earn less than $60,000 a year can be explained by asset shifting within wealthy households.
READ MORE: http://www.pressprogress.ca/new_report_suggests_pierre_poilievre_tfsa_statements_quite_misleading
No comments:
Post a Comment