How our Government Will Benefit
Paying Off our National Debt - WITHOUT Raising Taxes or Cutting Government Programs
According to the Fraser Institute,
"Budget deficits and increasing debt have become serious fiscal challenges facing the federal and many provincial governments recently"
Since 2007/08, combined federal and provincial net debt (inflation-adjusted) has nearly doubled from $1.18 trillion to a projected $2.18 trillion in 2023/24.
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The federal and provincial governments must
develop long-term plans to meaningfully address
the growing debt problem in Canada.
To solve this problem, we need to think differently.
As a society, we need to rally around newborns and their parents.
More specifically, we need to make it possible for new and expecting parents to come up with enough extra money - so they can afford to finish investing for their baby's retirement by their 3rd birthdays, when it costs 96% less.
This requires several groundbreaking new strategies.
For starters, the Federal Government should automatically open a registered retirement account for each child, on the day they're born.
And, parents should be given compelling tax incentives to contribute to this account. ​Specifically, 100% of the income they earn for their child's BIGShift, should be tax-free. We are lobbying for this.
Next, the government should also give compelling tax incentives to employers for helping parents earn extra income (during the first 3 years of their baby's life) - which goes directly into their baby's retirement account (tax-free). Importantly, this will actually end up costing employers substantially LESS than what they are presently required to contribute to the Canada Pension Plan. We're also lobbying for this.
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The reality is, it's simply too expensive for EVERYONE (parents, employers & taxpayers) to forego 20 or more, years of investment horizon.
Instead, as a society, we need to fully capitalize on each baby's 65-year investment horizon, as it's in everyone's financial interest.
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Presently, the Canadian government spends $77 billion per year supporting retirees, which is 17% of its entire budget (more than one of every six dollars spent).
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By comparison, to enable EVERY one of the approximately 370,000 babies born in Canada annually to accumulate $10 million* in retirement savings, a one-time investment of just $12.54 billion per year is required (by investing for each baby $33,874 on the day they are born).
This is over $64 billion (83.7%) LESS per year.
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And, it's not as if seniors who receive this financial assistance from the government are doing very well financially. In Canada, as of August 2023, over 7.1 million Canadian seniors received financial support, averaging just $10,697 per year, before tax.
The BIGShift represents a MUCH better way.
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Not only will it substantial increase the standard of living kids will enjoy throughout both their working years and retirement years, it's also be the key to paying off our national debt, balancing the federal budget, and lowering almost everyone's taxes - which will further increase the standard of living.
We'd be happy to answer any questions you have and invite you to either call us at 647-846-0300 ext. 800
or email us at: info@BIGShiftCanada.com
Here's a glimpse at how we do it.
*Assuming a 9% average annual rate of return (with ZERO fees), compounded annually until age 65